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Report Date : |
30.11.2013 |
IDENTIFICATION DETAILS
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Name : |
HIJAZI AND GHOUSHEH COMPANY |
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Registered Office : |
Al Qamaz Street, North Marqa Area, PO Box : 183292, Amman 11118 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
04.12.1985 |
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Com. Reg. No.: |
5685, Amman |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject is engaged in the production and processing of meat products,
such as burgers, luncheon meat and poultry |
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No. of Employees : |
400 |
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Jordan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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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 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 : HIJAZI AND GHOUSHEH COMPANY
Country of Origin :
Jordan
Legal Form :
Limited Liability Partnership
Registration Date :
4th December 1985
Commercial Registration Number :
5685, Amman
Chamber Membership Number :
7801
Issued Capital :
JD 13,000,000
Paid up Capital :
JD 13,000,000
Total Workforce :
400
Activities :
Production and processing of meat products
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed :
Mohamed Yassen, Finance Manager
HIJAZI AND
GHOUSHEH COMPANY
Registered &
Physical Address
Street : Al Qamaz
Street
Area : North Marqa
Area
PO Box : 183292
Town : Amman 11118
Country : Jordan
Telephone : (962-6) 4886155
/ 4886166 / 4886177
Facsimile : (962-6)
4886211 / 4884612
Email : info@hgg.com.jo
/ suhail@hgg.com.jo
Premises
Subject operates from a large suite of offices and a warehouse that are
rented and located in the Industrial Area of Amman.
Name Position
Essam Khaleel Hijazi Managing
Partner
Abdul Razak Ahmed Ghousheh Partner
Dr Hani Khaleel Hijazi Partner
Ahmed Abdulrazzak Ghousheh Partner
Tariq Essam Hijazi Partner
Zakaria Al Qassim Operations
Manager
Mohamed Yassen Finance
Manager
Sohail Kherbat Sales
Manager
Date of Establishment : 4th December 1985
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 5685, Amman
Chamber Mem. No. : 7801
National ID No. : 200022675
Issued Capital : JD 13,000,000
Paid up Capital : JD 13,000,000
Name of Partners
(s)
Essam Khaleel Hijazi
Abdul Razak Ahmed Ghousheh
Dr Hani Khaleel Hijazi
Ahmed Abdulrazzak Ghousheh
Tariq Essam Hijazi
·
International United Farm Company
·
Al Maraai Corporation
·
Baddar Poultry
·
Al Shad Co For Food Industry
Activities: Engaged in the production
and processing of meat products, such as burgers, luncheon meat and poultry.
Import Countries: United
Kingdom, Belgium, Austria, Germany, Turkey and Australia.
International Suppliers:
KIPCO Belgium
PARCO Belgium
Almi Austria
Multi Pack Germany
NOBASA Germany
Budenhien Germany
Jacob & White Ltd United
Kingdom
Operating Trend: Steady
Subject has a workforce of approximately 400 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
22,400,000 JD
23,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Mohamed Yassen, Finance Manager
HSBC Bank Middle East
Khalid Bin Walid Street
Jebel Hussein
PO Box: 925286
Amman
Tel: (962-6) 5660471 / 5607471
Fax: (962-6) 5692964
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.62.39 |
|
|
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
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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 |
|
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 |
|
<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.