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Report Date : |
06.08.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Al Mogar
Industrial Area, |
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Country : |
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Date of Incorporation : |
02.01.2014 |
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Com. Reg. No.: |
35088 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the
manufacture of carpets and rugs |
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No. of Employees : |
100 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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) |
|
Jordan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
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 :
Country of Origin : Jordan
Legal Form :
Limited Liability Partnership
Registration Date : 2nd
January 2014
Commercial
Registration Number : 35088
National ID Number : 200138279
Issued Capital : JD
1,120,000
Paid up Capital : JD
1,120,000
Total Workforce : 100
Activities :
Manufacturers of carpets and rugs.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Saleh
Ezzeddine Abdulaziz Akkad, Partner
AKKAD FOR
MANUFACTURING OF CARPETS AND RUGS CO LTD
Location : Al Mogar Industrial Area
Town : Amman
Country : Jordan
Mobile : (962-77) 7222630 / 6608000
Subject operates from
a medium sized suite of offices and a factory that are rented and located in
the Industrial Area of Amman.
Name Nationality Position
·
Basheer
Ezzeddine Abdulaziz Akkad Syrian Managing
Partner
·
Nazir
Ezzeddine Abdulaziz Akkad Syrian Partner
·
Amir
Ezzeddine Abdulaziz Akkad Syrian Partner
·
Saleh
Ezzeddine Abdulaziz Akkad Syrian Partner
·
Mahmoud
Ezzeddine Abdulaziz Akkad Syrian Partner
·
Samir
Ezzeddine Abdulaziz Akkad Syrian Partner
·
Munir
Ezzeddine Abdulaziz Akkad Syrian Partner
Date of Establishment : 2nd
January 2014
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 35088
National ID No. : 200138279
Issued Capital : JD 1,120,000
Paid up Capital : JD 1,120,000
·
Basheer
Ezzeddine Abdulaziz Akkad
·
Nazir
Ezzeddine Abdulaziz Akkad
·
Amir
Ezzeddine Abdulaziz Akkad
·
Saleh
Ezzeddine Abdulaziz Akkad
·
Mahmoud
Ezzeddine Abdulaziz Akkad
·
Samir
Ezzeddine Abdulaziz Akkad
·
Munir
Ezzeddine Abdulaziz Akkad
Activities: Engaged in the manufacture of carpets and
rugs. Production is due to commence in July 2014.
Subject has a
workforce of 100 employees.
Subject is a newly
formed business and as a result financial information is not currently
available.
·
Cairo
Amman Bank
Shabsough Street
PO Box: 715
Amman
Tel: (962-6) 5639321 / 5623100 / 5623109
Fax: (962-6) 5639328
No complaints regarding
subject’s payments have been reported.
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.86 |
|
|
1 |
Rs.102.67 |
|
Euro |
1 |
Rs.81.69 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
PDT |
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.