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Report Date : |
07.09.2013 |
IDENTIFICATION DETAILS
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Name : |
SAS INDUSTRIAL AND PETROLEUM SERVICES |
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Registered Office : |
3rd
Circle, Jabal Amman, P O Box 927140, Amman 11190 |
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Country : |
Jordan |
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Date of Incorporation : |
12.12.1996 |
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Com. Reg. No.: |
97008 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is
engaged in the provision of industrial and petroleum services |
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No. of Employees : |
09 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Moderate |
B1 |
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High |
B2 |
|
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 : SAS INDUSTRIAL AND PETROLEUM SERVICES
Country of Origin : Jordan
Legal Form : Sole Proprietorship
Registration Date : 12th December 1996
Commercial Registration Number : 97008
National ID Number : 100072870
Invested Capital : JD 20,000
Total Workforce : 9
Activities : Providers of industrial and petroleum services
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
SAS INDUSTRIAL AND PETROLEUM SERVICES
Registered &
Physical Address
Location : 3rd Circle, Jabal Amman
PO Box : 927140
Town : Amman 11190
Country : Jordan
Telephone : (962-6) 5372220 / 5364440
Facsimile : (962-6) 5364440
Mobile : (962-79) 9657054
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Amman.
Name Position
·
Wael
Tawfiq Gergis Karchja Proprietor
& General Manager
Date of Establishment : 12th
December 1996
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 97008
National ID No. :
100072870
Invested Capital
: JD 20,000
Mr Wael Tawfiq
Gergis Karchja is the sole proprietor of the business.
Activities: Engaged in the provision of industrial and
petroleum services.
Subject has a
workforce of 9 employees.
Companies
registered in Jordan are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
·
Arab
Jordan Investment Bank
Ibn Hani Street
Shmeisani
PO Box: 8797
Amman 11121
Tel: (962-6) 5607126 / 5607138
Fax: (962-6) 5681482 / 5690646
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 business
is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.96 |
|
UK Pound |
1 |
Rs.102.91 |
|
Euro |
1 |
Rs.86.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.