|
Report Date : |
02.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
AL MUTALLIKA FOR
CERAMIC AND SANITARYWARE COMPANY |
|
|
|
|
Registered Office : |
Al Raqeem Area, 58
& 735610, Amman 11591 |
|
|
|
|
Country : |
Jordan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
07.06.2008 |
|
|
|
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Com. Reg. No.: |
16727 |
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|
|
|
Legal Form : |
Limited Liability
Company |
|
|
|
|
Line of Business : |
Engaged in the import and distribution
of ceramics and sanitaryware products |
|
|
|
|
No. of Employees : |
20 |
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 – 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 : AL
MUTALLIKA FOR CERAMIC AND SANITARYWARE COMPANY
Country of Origin : Jordan
Legal Form :
Limited Liability Company
Registration Date : 7th
June 2008
Commercial
Registration Number : 16727
National ID Number : 200096924
Issued Capital : JD
30,000
Paid up Capital : JD 30,000
Total Workforce : 20
Activities : Import and distribution of ceramics and
sanitaryware products
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
AL MUTALLIKA FOR
CERAMIC AND SANITARYWARE COMPANY
Location : Al Raqeem Area
PO Box : 58 & 735610
Town : Amman 11591
Country : Jordan
Telephone : (962-6) 4161312
Facsimile : (962-6) 4123977
Mobile : (962-79) 5713667
Email : ahmad19654@yahoo.com
Subject operates
from a medium sized suite of offices, a warehouse and a showroom that are
rented and located in the Industrial Area of Amman.
Name Position
·
Ayman Abdullah Abu Nasser Managing
Director
·
Ahmed Abdullah Abu Nasser Director
·
Waleed Abdullah Abu Nasser Director
·
Jamal Abdullah Abu Nasser Director
·
Mahmoud Abdullah Abu Nasser Director
·
Khalid Sulaiman Ali Bin Huzayle Director
·
Ms Noran Nahar Ahmed Abu Zayed Director
Date of Establishment : 7th
June 2008
Legal Form :
Limited Liability Company
Commercial Reg. No. : 16727
National ID No. : 200096924
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
·
Ayman Abdullah Abu Nasser
·
Ahmed Abdullah Abu Nasser
·
Waleed Abdullah Abu Nasser
·
Jamal Abdullah Abu Nasser
·
Mahmoud Abdullah Abu Nasser
·
Khalid Sulaiman Ali Bin Huzayle
·
Ms Noran Nahar Ahmed Abu Zayed
Activities: Engaged in the import and distribution
of ceramics and sanitaryware products.
Import
Countries: Egypt and Saudi
Arabia
International
Suppliers:
·
Rawandi Ceramic Egypt
·
Nova Standar Egypt
·
Salimco Egypt
·
Riyadh Ceramic Saudi
Arabia
·
Al Ankaa Ceramic Saudi
Arabia
Operating Trend: Steady
Subject has a
workforce of 20 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 2,110,000 JD 2,275,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Arab
Bank Plc
Shmeisani Branch
PO Box: 950545 & 950544
Amman 11195
Tel: (962-6) 5607231 / 5607115
Fax: (962-6) 5606793 / 5606830
Email: secretariat@arabbank.com.jo
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.66.57 |
|
|
1 |
Rs.103.34 |
|
Euro |
1 |
Rs.88.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.