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Report Date : |
14.04.2014 |
IDENTIFICATION DETAILS
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Name : |
LUNA FOR TRADING FOOD INGREDIENTS & CHEMICALS
INDUSTRIES |
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Registered Office : |
Luna Company Building Zarqa Free Zone Zarqa |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
03.06.2007 |
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Com. Reg. No.: |
2109/4 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the import and distribution of food ingredients,
flavourings and chemicals for the pharmaceutical industry |
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No. of Employees |
05 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Jordan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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 : LUNA FOR TRADING FOOD INGREDIENTS & CHEMICALS INDUSTRIES
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 3rd June 2007
Commercial Registration Number : 2109/4
National ID Number : 20006076
Issued Capital : JD 1,500,000
Paid up Capital : JD 1,500,000
Total Workforce : 5
Activities : Distribution of food ingredients, flavourings and chemicals for the
pharmaceutical industry.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Dr Ahmed Jalal, Commercial Manager
LUNA FOR TRADING FOOD INGREDIENTS & CHEMICALS INDUSTRIES
Building : Luna Company
Building
Area : Zarqa Free
Zone
Town : Zarqa
Country : Jordan
Telephone : (962-5) 3826507
Facsimile : (962-5)
3979013
Mobile : (962-79)
5315710
Email : ahmed1987_20@yahoo.com
/ lunazarqafz@lunajo.com
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Zarqa Free Zone.
Name Position
· Dr George Amin
Yousef Managing
Director
· Ramzi George Amin
Yousef Director
· Rania George Amin
Yousef Director
· Dr Ahmed Jalal Commercial
Manager
Date of
Establishment : 3rd
June 2007
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 2109/4
National ID No. : 20006076
Issued Capital : JD 1,500,000
Paid up Capital : JD 1,500,000
· Dr George Amin
Yousef
· Ramzi George Amin
Yousef
· Rania George Amin
Yousef
· The Egyptian Luna
Co
Zarqa Free Zone
Zarqa
Tel: (962-5)
3826507
Fax: (962-5)
3979013
· Luna Co for
Trading Ingredients for Food and Chemical Industries
Amreya Free Zone
Alexandria
Egypt
Tel: (20-3) 4500495 / 4500496
Fax: (20-3) 4500302
· Luna Industrial Investments
72 EL Sharikat Street
Ghamra
PO Box: 43
Cairo 11251
Tel: (20-2)
22361501 / 22344117
Fax: (20-2)
22361504 / 22322858
· Luna for Flavors & Fragrances
83 Industrial Zone 2
6th
October City
Tel: (20-2)
38332440
Fax: (20-2)
38332416
· Luna PAC
Industrial Zone 4, Part 76
6th October City
Tel: (20-2)
38334800
Fax: (20-2)
38334448
Activities: Engaged in the import and distribution of food ingredients, flavourings
and chemicals for the
pharmaceutical industry.
Import Countries: Europe and India.
International
Suppliers:
· Canton Laboratories India
· IPCA Laboratories India
· Dr Reddy Laboratories Ltd India
· SAVIT India
· GUVIC India
Operating Trend: Steady
Subject has a workforce of 5 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
2,935,000 JD
3,180,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Arab Bank Plc
King Hussein
Street
PO Box: 145
Zarqa
Tel: (962-5)
3983381
Fax: (962-5)
3994522
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 company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.27 |
|
|
1 |
Rs.101.09 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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 |
|
|
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 |
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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.