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Report Date : |
13.09.2013 |
IDENTIFICATION DETAILS
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Name : |
WORLD COMPANY FOR AIR AND WATER FOR COMMERCIAL AGENCIES - 235040 |
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Registered Office : |
Yajouz Road Industrial Area, Awajan Zarka |
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Country : |
Jordan |
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Date of Incorporation : |
10.08.1995 |
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Com. Reg. No.: |
4102 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and distribution of water and beverages. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Under Liquidation |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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 |
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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 : WORLD COMPANY FOR AIR AND WATER FOR COMMERCIAL
AGENCIES
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 10th August 1995
Commercial Registration Number : 4102
National ID Number : 200048271
Issued Capital : JD 5,000
Paid up Capital : JD 5,000
Activities : Distributors of water and beverages
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
WORLD COMPANY FOR AIR AND WATER FOR COMMERCIAL AGENCIES
Street : Yajouz Road
Area : Industrial
Area, Awajan
Town : Zarka
Country : Jordan
Subject operates from a small suite of offices that are rented and
located in the Industrial Area of Zarqa.
Name Position
· Mohamed Al
Bargouthi Managing
Director
· Ali Al Jundi Director
Date of
Establishment : 10th
August 1995
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 4102
National ID No. : 200048271
Issued Capital : JD 5,000
Paid up Capital : JD 5,000
· Mohamed Al
Bargouthi
· Ali Al Jundi
Activities: Engaged in the import and distribution of water and beverages.
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.
·
Jordan Ahli Bank
Zarqa Free Zone
Zarqa 13134
Tel: (962-5)
3826214
Fax: (962-5)
3826171
No complaints regarding subject’s payments have been reported.
The Zarqa Chamber of Commerce stated that the subject was listed as
being under liquidation and that they had not renewed their details with the
chamber since 2002.
We were unable to contact the subject directly during our investigation.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.67 |
|
|
1 |
Rs.100.71 |
|
Euro |
1 |
Rs.84.72 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.