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Report Date : |
30.04.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Amar Bin Yasser Street, Aujan Area, 925640, Amman 11190 Zarqa |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
17.02.2009 |
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Com. Reg. No.: |
211914 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the manufacture of plastic bags |
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No of Employees : |
47 |
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 : |
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 (30.09.2013) |
Current Rating (01.12.2013) |
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Jordan |
B1 |
B1 |
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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 |
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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.
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Source
: CIA |
Company Name : AL MANSOUR PLASTIC FACTORY
Country of Origin : Jordan
Legal Form : Sole Proprietorship
Registration Date : 17th February 2009
Commercial Registration Number : 211914, Zarqa
Chamber Membership Number : 5313
National ID Number : 1000315904
Invested Capital : JD 50,000
Total Workforce : 47
Activities : Manufacturers of plastic bags.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Nedal Hassan, Financial Controller
AL MANSOUR PLASTIC
FACTORY
Street : Amar Bin Yasser Street
Area : Aujan Area
PO Box : 925640, Amman 11190
Town : Zarqa
Country : Jordan
Telephone : (962-5) 3652000
Facsimile : (962-5) 3650904
Mobile : (962-79) 7442945
Email : almansoorplasticfactory@gmail.com
/ sahm@orange.co.jo / sahm@go.com.jo
Subject operates from
a medium sized suite of offices and a factory that are rented and located in
the Industrial Area of Zarqa.
Name Position
·
Ali
Saeed Ahmed Zaid Al Kilani Proprietor
& General Manager
·
Ahmed
Al Kilani Sales
Manager
·
Nedal
Hassan Financial
Controller
Date of Establishment : 17th
February 2009
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 211914,
Zarqa
Chamber Member No. : 5313
National
ID No. : 1000315904
Invested Capital
: JD 50,000
Mr Ali Saeed Ahmed
Zaid Al Kilani is the sole proprietor of the business.
Activities: Engaged in the manufacture of plastic bags.
Import
Countries: Europe, India,
Saudi Arabia and Kuwait.
International
Suppliers:
·
Plasti Blend India Ltd India
·
Exxon Mobile Saudi
Arabia
·
SABIC Saudi
Arabia
·
EQUATE Kuwait
Operating Trend: Steady
Subject has a
workforce of 47 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 2,320,000 JD 2,500,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Nedal Hassan, Financial Controller
·
Jordan
Gulf Bank
PO Box: 9989
Zarqa
No complaints
regarding subject’s payments have been reported.
Local sources
report that the subject’s operating history is clear with payment obligations met
in a generally timely manner. The financial position is satisfactory and the
business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.52 |
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|
1 |
Rs. 101.77 |
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Euro |
1 |
Rs. 83.91 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
DPT |
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 |
-- |
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.