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Report Date : |
02.10.2013 |
IDENTIFICATION DETAILS
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Name : |
JORDAN BIO INDUSTRIES CENTRE |
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Registered Office : |
Yajooz Area, PO Box: 43, Amman 11941 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
30.11.1996 |
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Com. Reg. No.: |
4705, Amman |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturers of veterinary vaccines, drugs and biological diagnostic reagents. |
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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 : |
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 |
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Risk Category |
ECGC
Classification |
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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.
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Source
: CIA |
Company Name :
JORDAN BIO INDUSTRIES CENTRE
Country of Origin :
Jordan
Legal Form :
Limited Liability Company
Registration Date :
30th November 1996
Commercial Registration Number :
4705, Amman
Chamber Membership Number :
11156
National ID Number :
200008708
Issued Capital :
JD 2,200,000
Paid up Capital :
JD 2,200,000
Total Workforce :
120
Activities :
Manufacturers of veterinary vaccines, drugs and biological diagnostic
reagents.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Eiad Khalifa, Finance Manager
JORDAN BIO INDUSTRIES CENTRE
Registered &
Physical Address
Location : Yajooz Area
PO Box : 43
Town : Amman 11941
Country : Jordan
Telephone : (962-6) 5232162
/ 5233161 / 5232745
Facsimile : (962-6)
5232210
Email : sales@jovaccenter.com
/ eiad.jovac@gmail.com
Premises
Subject operates from a medium sized suite of offices and a factory that
are owned and located in the Industrial Area of Amman.
Name Nationality Position
Faisal Ahmed Mahmoud Abdul Dayem Jordanian Chairman
Salem Awaad Al Kuhewi Jordanian Managing Director
Nabill Ibrahim Shahid Syrian Director
Abdulaziz Ibrahim Al Jammaz Saudi Director
Ghassan Basim Al Khateeb Jordanian Director
Marwan Al Zoubi - Director
Eiad Khalifa - Finance
Manager
Amjad Al Qysiyah - Commercial
Manager
Date of Establishment : 30th
November 1996
Legal Form : Limited Liability
Company
Commercial Reg. No. : 4705, Amman
Chamber Member No. : 11156
National ID No. : 200008708
Issued Capital : JD 2,200,000
Paid up Capital : JD 2,200,000
Name of
Shareholder (s) Percentage
United Technical Group Company Consultants and
Investment 31.00%
Iraq Jordanian Co 22.50%
Abdulaziz Ibrahim Al Jammaz 15.07%
Ministry Of Finance 15.00%
Faisal Ahmed Mahmoud Abdul Dayem 4.08%
Ghassan Basim Al Khateeb 4.02%
Nabill Ibrahim Shahid 3.07%
Local businessmen and private investors 2.76%
Jordan Bio Employee Fund 2.50%
Activities: Engaged in the manufacture
of veterinary vaccines, drugs and biological diagnostic reagents.
Import Countries: Europe
and the Far East.
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
5,704,164 JD
6,022,540
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Eiad Khalifa, Finance Manager
Bank of Jordan Ltd
Jebel Amman
PO Box: 2140
Amman
Tel: (962-6) 642034
Arab Bank Plc
Shmeisani Branch
PO Box: 950545 & 950544
Amman 11195
Tel: (962-6) 5607231 / 5607115
Fax: (962-6) 5606793 / 5606830
No complaints regarding subject’s payments have been reported.
According to local sources, subject enjoys a good reputation for the
quality of its products with nothing detrimental uncovered regarding the manner
in which operations are conducted. As such the company is considered to be a
fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.35 |
|
|
1 |
Rs.101.20 |
|
Euro |
1 |
Rs.84.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
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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 |
|
<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.