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Report Date : |
10.04.2014 |
IDENTIFICATION DETAILS
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Name : |
JAWAD BAKERY |
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Registered Office : |
Amman Zarqa Highway, PO Box : 310168, Amman 11131 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
29.11.1993 |
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Com. Reg. No.: |
58540, Amman |
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Legal Form : |
General Partnership |
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Line of Business : |
Subject is engaged in the manufacture of bakery products. |
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No. of Employees : |
65 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Jordan |
B1 |
B1 |
|
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. In 2013, Jordan depended heavily on foreign
assistance to finance the budget deficit, as the influx of about 600,000 Syrian
refugees put additional pressure on expenditures.
|
Source
: CIA |
Company Name :
JAWAD BAKERY
Country of Origin :
Jordan
Legal Form :
General Partnership
Registration Date :
29th November 1993
Commercial Registration Number :
58540, Amman
Chamber Membership Number :
6591
National Identification Number :
200014075
Partners Capital :
JD 240,000
Total Workforce :
65
Activities :
Manufacturers of bakery products
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
JAWAD BAKERY
Registered &
Physical Address
Location : Amman Zarqa
Highway
PO Box :
310168
Town : Amman 11131
Country : Jordan
Telephone : (962-6)
48974192 / 48974193
Facsimile : (962-6)
4897127
Mobile : (962-79)
6488800
Email : jawadbk@yahoo.com
/ info@jawadbakeries.com
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Amman.
Branch Office (s)
Location Description
Amman Zarqa Highway Factory
premises
Amman
Tel: (962-6) 4892167
Fax: (962-6) 4889990
Zarqa Amir Mohamed Street Office
premises
Zarqa
Tel: (962-5) 3987977 / 3931060
Name Position
Nedal Abdul Jawad Abu Sininah Managing
Partner
Mohamed Khaled Abdul Jawad Abu Sininah Partner
Date of Establishment : 29th November 1993
Legal Form : General Partnership
Commercial Reg. No. : 58540, Amman
Chamber Member No. : 6591
National ID No. : 200014075
Partners Capital : JD 240,000
Name of Partners
(s)
Nedal Abdul Jawad Abu Sininah
Mohamed Khaled Abdul Jawad Abu Sininah
Activities: Engaged in the manufacture
of bakery products.
Subject has a workforce of 65 employees.
Financial highlights provided by local sources are given below:
Currency: Jordanian Dinars (JD)
Year Ending 31/12/12: Year Ending 31/12/13:
Total Sales JD
3,110,000 JD
3,485,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
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.
According to local sources, subject enjoys a good reputation for the
quality of its products with nothing detrimental uncovered regarding the manner
in which operations are conducted. As such the business is considered to be a
fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.07 |
|
|
1 |
Rs.100.56 |
|
Euro |
1 |
Rs.82.79 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
NNA |
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 |
|
-- |
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.