|
Report Date : |
29.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
GLOBAL GRAINS TRADING CO LTD |
|
|
|
|
Registered Office : |
Al Ber Complex
88, 4th Floor, Suite No. 409, Yousif Ben Tashfeen Street, Shmeisani,
P O Box 710782, Amman 11171 |
|
|
|
|
Country : |
Jordan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
04.04.2009 |
|
|
|
|
Com. Reg. No.: |
21375, Amman |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Distributors of general foodstuff products |
|
|
|
|
No. of Employees : |
06 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Jordan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 : GLOBAL GRAINS TRADING CO LTD
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 4th April 2009
Commercial Registration Number : 21375, Amman
Membership Number : 155301
National ID Number : 200110229
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
Total Workforce : 6
Activities : Distributors of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
GLOBAL GRAINS
TRADING CO LTD
Registered &
Physical Address
Building : Al Ber Complex 88, 4th
Floor, Suite No. 409
Street : Yousif Ben Tashfeen Street
Area : Shmeisani
PO Box : 710782
Town : Amman 11171
Country : Jordan
Telephone : (962-6) 5667191 / 5481271
Facsimile : (962-6) 5668191
Mobile : (962-79) 5023332 / 5141380 /
5607263
Email : global3grains@gmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Amman.
Name Position
·
Mahmoud
Tawfiq Al Haji Managing
Director
·
Taha
Abdulrahman Firhat Director
·
Bassam
Mohamed Makahla Director
·
Tony
Maroon Naser Sader General
Manager
·
Mariam
Al Salem Administration
Executive
Date of Establishment : 4th
April 2009
Legal Form :
Limited Liability Company
Commercial Reg. No. : 21375, Amman
Membership No. :
155301
National ID No. :
200110229
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
Name of
Shareholder (s)
·
Mahmoud
Tawfiq Al Haji
·
Taha
Abdulrahman Firhat
·
Bassam
Mohamed Makahla
·
Makahla
Company
Amman
Activities: Engaged in the import and distribution of
general foodstuff products, including grains, nuts, canned foods, dried fruits,
rice, juices and food additives. Subject also deals in bird feed, including
sorghum, millet, canary seeds, vetch,
yellow corn, hemp seeds and flax seeds.
Import
Countries: Europe and GCC
countries.
Brand Names: MY BIRD
Subject has a
workforce of 6 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 1,380,000 JD 1,520,000
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.54.39 |
|
UK Pound |
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
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.