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Report Date : |
02.08.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
North Marqa Area, 4050 |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
14.03.1987 |
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Com. Reg. No.: |
34345 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the processing and packaging coffee, spices, dried foodstuff, sweets and Mahalabiya. |
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No of Employees : |
120 |
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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 : ZAIDAN AL AMMOURI & SONS CO
Trading As : AL SALAM MILLS
Country of Origin : Jordan
Legal Form : Limited Liability Partnership
Registration Date : 14th March 1987
Commercial Registration Number : 34345
Chamber Membership Number : 25476
National ID Number : 200016000
Issued Capital : JD 20,000
Paid up Capital : JD 20,000
Total Workforce : 120
Activities : Processing and packaging coffee, spices, dried foodstuff, sweets and
Mahalabiya
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME: ZAIDAN
AL AMMOURI & SONS CO
TRADING AS: AL
SALAM MILLS
Location : North Marqa Area
PO Box : 4050
Town : Amman 11131
Country : Jordan
Telephone : (962-6) 4888306 / 4888307 /
4924703
Facsimile : (962-6) 4888308 / 4924704
Email : alsalammills@hotmail.com
Subject operates from
a large suite of offices that are rented and located in the Central Business
Area of Amman.
Name Position
·
Zaidan
Al Amouri Managing
Partner
·
Sofiyan
Zaidan Al Amouri Partner
Date of Establishment : 14th
March 1987
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 34345
Chamber Member No. : 25476
National ID No. : 200016000
Issued Capital : JD 20,000
Paid up Capital : JD 20,000
·
Zaidan
Al Amouri
·
Sofiyan
Zaidan Al Amouri
Activities: Engaged in the processing and packaging
coffee, spices, dried foodstuff, sweets and Mahalabiya.
Import
Countries: Europe and the
Far East.
Brand Names: TEEBA, AL SALAM and AL SALAM THYME
Operating Trend: Steady
Subject has a
workforce of 120 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 3,400,000 JD 3,700,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Bank of
Jordan Ltd
Jebel Amman
PO Box: 2140
Amman
Tel: (962-6) 4642034
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 company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 60.85 |
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|
1 |
Rs. 102.68 |
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Euro |
1 |
Rs. 81.46 |
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.