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Report Date : |
05.03.2013 |
IDENTIFICATION DETAILS
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Name : |
AL SHORJA TRADING CO LTD |
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Registered Office : |
Baker Center, 2nd Floor, Building No. 122, Office No. 204
Garden Street Amman |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
16.04.2008 |
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Com. Reg. No.: |
6164951 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of sculpture and copper work |
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No. of Employees : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made on
e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Jordan |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
JORDAN - ECONOMIC OVERVIEW
Jordan's economy is among the smallest in the Middle East, with insufficient supplies of water, oil, and other natural resources, underlying the government''s heavy reliance on foreign assistance. Other economic challenges for the government include chronic high rates of poverty, unemployment, inflation, and a large budget deficit. Since assuming the throne in 1999, King ABDALLAH has implemented significant economic reforms, such as opening the trade regime, privatizing state-owned companies, and eliminating some fuel subsidies, which in the last decade spurred economic growth by attracting foreign investment and creating some jobs. The global economic slowdown and regional turmoil, however, have depressed Jordan''s GDP growth, impacting export-oriented sectors, construction, and tourism. In 2011 the government approved two economic relief packages and a budgetary supplement, largely to improve the living conditions for the middle and poor classes. Jordan''s finances have also been strained by a series of natural gas pipeline attacks in Egypt, causing Jordan to substitute more expensive heavy fuel oils to generate electricity. An influx of foreign aid, especially from Gulf countries, has helped to somewhat offset these extrabudgetary expenditures, but the budget deficit is likely to remain high, at nearly 10% of GDP excluding grants. Amman likely will continue to depend heavily on foreign assistance to finance the deficit in 2012. Jordan''s financial sector has been relatively isolated from the international financial crisis because of its limited exposure to overseas capital markets. Jordan is currently exploring nuclear power generation to forestall energy shortfalls.
Source
: CIA
Company Name : AL SHORJA TRADING CO LTD
Country of Origin : Jordan
Legal Form : Limited Liability Partnership
Registration Date : 16th April 2008
Commercial Registration Number : 6164951
National ID Number : 200099253
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
Total Workforce : 15
Activities : Distributors of sculpture and copper work
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
AL SHORJA TRADING CO LTD
Building : Baker
Center, 2nd Floor, Building No. 122, Office No. 204
Street : Garden
Street
Town : Amman
Country : Jordan
Telephone : (962-6) 5605609
Facsimile : (962-6)
5606051
Mobile : (962-79)
5577905
Email : info@alshorjaco.com
/ alshorja@yahoo.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Amman.
Branch Offices
Location Description
· Al Shorja Office
premises
Baghdad
Iraq
Tel: (964)
7707599952
Fax: (964)
7712923126
Name Position
· Watheq Katie Habib Managing
Partner
· Nouri Saeed Partner
Date of
Establishment : 16th April
2008
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 6164951
National ID No. : 200099253
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
· Watheq Katie Habib
· Nouri Saeed
Activities: Engaged in the import and distribution of sculpture and copper work.
The company mainly
contracts to supply all kinds of domestic and foreign large sculpture
(stainless steel
sculpture,
copper), indoor art sculpture, hotel decoration and fountain sculpture,
anaglyph, modern
technology flowerpot, flagpole and landscape
art products.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 15 employees.
Financial highlights provided by local sources are given below:
Currency: Jordanian Dinars (JD)
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Sales JD
875,000 JD
930,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Jordan National Bank
Jabal Amman Branch
PO Box: 1578
Amman 11118
Tel: (962-6)
5642391
Fax: (962-6)
5628809
No complaints regarding subject’s payments have been reported.
During the course of this investigation nothing detrimental was
uncovered regarding subject’s operating history or the manner in which payments
are fulfilled. As such the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.05 |
|
|
1 |
Rs.82.75 |
|
Euro |
1 |
Rs.71.61 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.