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Report Date : |
12.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
I L F TRADE CO LTD |
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|
|
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Registered Office : |
Al Sayegh Commercial Centre, King Hussein
Street, Abdali, PO Box: 911666, Amman 11191 |
|
|
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Country : |
Jordan |
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|
|
Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
03.02.2002 |
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Com. Reg. No.: |
7107, Amman |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of pharmaceuticals, veterinary drugs and cosmetics. |
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No. of Employees : |
12 |
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 |
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|
|
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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 |
|
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 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 :
I L F TRADE CO LTD
Country of Origin :
Jordan
Legal Form :
Limited Liability Company
Registration Date :
3rd February 2002
Commercial Registration Number :
7107, Amman
Issued Capital :
JD 30,000
Paid up Capital :
JD 30,000
Total Workforce :
12
Activities :
Distributors of pharmaceuticals, veterinary drugs and cosmetics.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Fadi Sarsak, Commercial
Manager
I L F TRADE CO LTD
Registered &
Physical Address
Building : Al Sayegh Commercial Centre
Street : King Hussein
Street
Area : Abdali
PO Box : 911666
Town : Amman 11191
Country : Jordan
Telephone : (962-6) 4629111
Facsimile : (962-6)
4620662
Mobile : (962-79)
5588335
Email : info@ilf-jo.com
Premises
Subject operates from a small suite of offices that are rented and located
in the Central Business Area of Amman.
Name Position
Hisham Abdul Rahman Jadallah Managing
Director
Najah Yousef Hasan Jadallah Director
Thalji Luis Hattar Director
Fadi Sarsak Commercial
Manager
Date of Establishment : 3rd
February 2002
Legal Form : Limited Liability
Company
Commercial Reg. No. : 7107, Amman
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
Name of
Shareholder (s) Percentage
Hisham Abdul Rahman Jadallah 37.5%
Thalji Luis Hattar 37.5%
Najah Yousef Hasan Jadallah 25.0%
Activities: Engaged in the import and distribution of pharmaceuticals, veterinary
drugs and cosmetics.
Import Countries: Europe and the Far East.
International
Suppliers:
Nectar Lifescience India
Unimark Remedies India
Lee Pharma India
Anqui Lu’an China
Hisoar China
Jiande China
Dasan South
Korea
Medichem Hong
Kong
Nutrilo Germany
Epo Italy
Gattefosse France
Seppic France
Glide Chem India
Ranq Pharma India
Austar China
Export Countries: Syria, Saudi Arabia, Lebanon and Iraq.
Operating Trend: Steady
Subject has a workforce of 12 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
6,135,000 JD
6,400,000
Local sources consider subject’s financial condition to be Fair.
Arab Bank Plc
Shmeisani Branch
PO Box: 950545 & 950544
Amman 11195
Tel: (962-6) 5607231 / 5607115
Fax: (962-6) 5606793 / 5606830
Bank of Jordan Ltd
King Hussain Street
PO Box: 37
Amman
Tel: (962-6) 5630301
Fax: (962-6) 5638889
No complaints regarding subject’s payments have been reported.
Established in 2002, subject is involved in the import and distribution
of pharmaceuticals, veterinary drugs and cosmetics.
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.61.16 |
|
|
1 |
Rs.97.77 |
|
Euro |
1 |
Rs.82.78 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.