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Report Date : |
20.09.2013 |
IDENTIFICATION DETAILS
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Name : |
IZHIMAN GLOBAL TRADE & INVESTMENT GROUP |
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Registered Office : |
Building 34, Mahmoud Al Mousa Street, Al Sofiya Area, P O Box 815333, Amman 11180 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
06.01.1992 |
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Com. Reg. No.: |
67132, Amman |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
importer & distributor of roasted coffee, cocoa, tea, spices and herbs, subject
also roasts and packages coffee and nuts. |
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No. of Employees : |
75 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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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 : IZHIMAN GLOBAL TRADE & INVESTMENT GROUP
Country of Origin : Jordan
Legal Form : Sole Proprietorship
Registration Date : 6th January 1992
Commercial Registration Number : 67132, Amman
Chamber Membership Number :
37245
National ID Number : 100014568
Invested Capital : JD 30,000
Total Workforce : 75
Activities : Distributors of roasted coffee, cocoa, tea, spices and herbs.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Naser Matooq, Sales Manager
IZHIMAN
GLOBAL TRADE & INVESTMENT GROUP
Registered &
Physical Address
Building : Building 34
Street : Mahmoud Al Mousa Street
Area : Al
Sofiya Area
PO Box : 815333
Town : Amman 11180
Country : Jordan
Telephone : (962-6) 5865156 / 4209696
Facsimile : (962-6) 5824254 / 4206700
Mobile : (962-79) 54005091
Email : info@izhiman.com
Premises
Subject operates
from a medium sized suite of offices and a showroom with storage facilities
that are rented and located in the Central Business Area of Amman.
Branch Office (s)
Location Description
·
Moqablin
Industrial Area Office
premises
Amman
Tel: (962-6) 4209696
Fax: (962-6) 4206700
·
Al
Hishimi Area Office
premises
Amman
Tel: (962-6) 4204096
·
Sowyifiah
Area Office
premises
Amman
Tel: (962-6) 58565156
·
Aswaq
Al Slam Office
premises
Amman
Name Position
·
Ishaq Mostafa Khalid Izhiman Proprietor
& General Manager
·
Fayez
Al Keswani Assistant
General & Marketing Manager
·
Husam Abu Hejleh Administration
Manager
·
Naser Matooq Sales
Manager
·
Duaa
Abu Issa Accounts
Manager
Date of Establishment : 6th
January 1992
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 67132, Amman
Chamber Member No. : 37245
National
ID No. : 100014568
Invested Capital
: JD 30,000
Mr Ishaq Mostafa Khalid Izhiman is the sole proprietor
of the business.
Activities: Engaged in the import and distribution of roasted coffee, cocoa, tea, spices and herbs, subject also
roasts and packages coffee and nuts.
Import
Countries: India, Sri Lanka
and East Africa.
Brand Names: IZHIMAN
Operating Trend: Steady
Subject has a
workforce of 75 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 Revenue JD 5,200,000 JD 5,250,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Jordan Islamic
Bank for Finance and Investment
PO Box: 295
Tareq Branch
Amman 11947
Tel: (962-6) 5060548
Fax: (962-6) 5060436
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.61.75 |
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UK Pound |
1 |
Rs.99.56 |
|
Euro |
1 |
Rs.83.55 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.