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Report Date : |
18.04.2014 |
IDENTIFICATION DETAILS
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Name : |
AL BASSAM FERTILIZERS FACTORY |
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Registered Office : |
Maan Development Area (MDA), Maan City |
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Country : |
Jordan |
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Date of Incorporation : |
28.02.2012 |
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Com. Reg. No.: |
172423 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged in the manufacture of fertilizers, compound chemicals and phosphoric acid. |
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No of Employees : |
6 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Recently Commenced Operation |
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Payment Behaviour : |
Slow But Correct |
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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 (30.09.2013) |
Current Rating (01.12.2013) |
|
Jordan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
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 : AL BASSAM FERTILIZERS FACTORY
Country of Origin : Jordan
Legal Form : Sole Proprietorship
Registration Date : 28th February 2012
Commercial Registration Number : 172423, Amman
National ID Number : 100383987
Membership Number : 25402
Invested Capital : JD 10,000
Total Workforce : 6
Activities : Manufacturers of fertilizers, compound chemicals and phosphoric acid.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Bassam Yousef Shareef Abdul Hamid, Proprietor & General Manager
AL BASSAM
FERTILIZERS FACTORY
Location : Maan Development Area (MDA)
Town : Maan City
Country : Jordan
Telephone : (962-6) 5713360
Facsimile : (962-6) 5713360
Mobile : (962-79) 7161215
Email : bassam_y_S@yahoo.com
Subject operates
from a small suite of offices and a factory that are rented and located in the
Industrial Area of Maan City.
Name Position
·
Bassam Yousef Shareef Abdul Hamid Proprietor
& General Manager
Date of Establishment : 28th
February 2012 (Production began in April 2014)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 172423,
Amman
National ID No. :
100383987
Membership
No. : 25402
Invested Capital
: JD 10,000
Mr. Bassam Yousef Shareef Abdul Hamid
is the sole proprietor of the business.
Activities: Engaged in the manufacture of
fertilizers, compound chemicals and phosphoric acid.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 6 employees.
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.
·
Arab
Bank Plc
King Faisal Street
PO Box: 8 & 68
Amman
Tel: (962-6) 5638161
Fax: (962-6) 5637082
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. 60.38 |
|
|
1 |
Rs. 101.63 |
|
Euro |
1 |
Rs. 83.57 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
DPT |
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 |
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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 |
-- |
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.