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Report Date : |
28.11.2013 |
IDENTIFICATION DETAILS
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Name : |
JORDAN BAHRAIN PAPER INDUSTRIES LTD (JOBAPACK) |
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Registered Office : |
King Hussain Bin Talal Development Area, PO Box 1352, Mafraq 25110 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
05.05.2007 |
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Com. Reg. No.: |
318, Mafraq |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the manufacture of paper and carton for packaging. |
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No. of Employees : |
120 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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 – March 31st,
2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 and 2012,
the government approved two economic relief packages and a budgetary
supplement, meant 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 diesel
imports, primarily from Saudi Arabia, to generate electricity. Jordan is
currently exploring nuclear power generation in addition to the exploitation of
abundant oil shale reserves and renewable technologies to forestall energy
shortfalls. In 2012, to correct budgetary and balance of payments imbalances,
Jordan entered into a $2.1 billion, multiple year International Monetary Fund
Stand-By Arrangement. Jordan''s financial sector has been relatively isolated
from the international financial crisis because of its limited exposure to
overseas capital markets. Jordan will continue to depend heavily on foreign
assistance to finance the deficit in 2013.
|
Source : CIA |
Company Name : JORDAN
BAHRAIN PAPER INDUSTRIES LTD (JOBAPACK)
Country of Origin :
Jordan
Legal Form :
Limited Liability Company
Registration Date :
5th May 2007
Commercial Registration Number :
318, Mafraq
Chamber Membership Number :
5584
National ID Number :
200027724
Issued Capital :
JD 5,000,000
Paid up Capital :
JD 5,000,000
Total Workforce :
120
Activities :
Manufacturers of paper and carton for packaging
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed :
Mohamed Eid, Finance Manager
JORDAN BAHRAIN PAPER INDUSTRIES LTD (JOBAPACK)
Location : King Hussain
Bin Talal Development Area
PO Box : 1352
Town : Mafraq 25110
Country : Jordan
Telephone : (962-2) 6297120
Facsimile : (962-2)
6297134
Email : info@jobapack.net
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of Mafraq.
Name Position
· Hani Al Akkad General
Manager
· Mohamed Eid Finance
Manager
· Mohamed Abu El
Sheikh Commercial
Manager
Date of Establishment : 5th May 2007
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 318, Mafraq
Chamber Member No. : 5584
National ID No. : 200027724
Issued Capital : JD 5,000,000
Paid up Capital : JD 5,000,000
· Bahrain Pack
Bahrain
· Zalatimo
Industries
Sahab Industrial
Area
Amman
Activities: Engaged in the manufacture of paper and carton for packaging.
Import Countries: Europe and GCC countries.
Operating Trend: Steady
Subject has a workforce of 120 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
7,100,000 JD
8,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Mohamed Eid, Finance Manager
·
Arab Bank Plc
PO Box: 144186
King Faisal Street
Mafraq
Tel: (962-2)
6231697
Fax: (962-2)
6232895
Swift Code: ARABJOAX104
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.62.36 |
|
UK Pound |
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.84.67 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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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.