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Report Date : |
14.09.2013 |
IDENTIFICATION DETAILS
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Name : |
ASIA STAR GLOBAL CO |
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Registered Office : |
Al Birr Building, 2nd Floor, Suite No. 205 Abdul Hameed
Sharaf Street Shmeisani PO Box 94180 Amman 11194 |
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Country : |
Jordan |
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Date of Incorporation : |
01.05.2013 |
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Com. Reg. No.: |
32464, Amman |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of ferrous and non-ferrous metals, HMS, LMS and medical products. |
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No. of Employees : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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 |
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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 : ASIA STAR GLOBAL CO
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 1st May 2013
Commercial Registration Number : 32464, Amman
National ID Number : 200133496
Issued Capital : JD 10,000
Paid up Capital : JD 10,000
Total Workforce : 4
Activities : Distributors of ferrous and non-ferrous metals, HMS, LMS and medical
products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Mohamed Abdullatif Qutaish, Managing Director
ASIA STAR GLOBAL CO
Building : Al Birr
Building, 2nd Floor, Suite No. 205
Street : Abdul Hameed Sharaf Street
Area : Shmeisani
PO Box : 94180
Town : Amman 11194
Country : Jordan
Telephone : (962-6) 5673236
/ 5655506 / 5653636
Facsimile : (962-6)
5673237
Email : moh_nurse@yahoo.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Amman.
Name Position
· Mohamed Abdullatif
Qutaish Managing
Director
· Raedha Qutaish Director
Date of
Establishment : 1st
May 2013
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 32464, Amman
National ID No. : 200133496
Issued Capital : JD 10,000
Paid up Capital : JD 10,000
· Mohamed Abdullatif
Qutaish
· Raedha Qutaish
Activities: Engaged in the import and distribution of ferrous and non-ferrous
metals, HMS, LMS and medical
products.
Import Countries: Europe and the Far East
Subject has a workforce of 4 employees.
Subject is a newly formed business and as a result financial information
is not currently available.
·
Bank of Jordan Ltd
Jebel Amman
PO Box: 2140
Amman
Tel: (962-6)
642034
No complaints regarding subject’s payments have been reported.
In view of subject’s infancy, extensive payment and financial are not
available, therefore dealings are recommended to be on secured terms, and a
close monitoring of subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.78 |
|
|
1 |
Rs.100.70 |
|
Euro |
1 |
Rs.84.66 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.