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Report Date : |
21.08.2014 |
IDENTIFICATION DETAILS
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Name : |
NASER AL MONAYYAR TRADING EST |
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Registered Office : |
Al Yarmouk Street Wadi Al Nasr |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
12.07.2004 |
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Com. Reg. No.: |
156275, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import and distribution of electrical and lighting
products |
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No. of Employees |
08 |
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 1, 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 |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
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Source
: CIA |
Company Name : NASER AL MONAYYAR TRADING EST
Also Known As : TATHBET AL DOLEAH FOR TRADING
Country of Origin : Jordan
Legal Form : Sole Proprietorship
Registration Date : 12th July 2004
Commercial Registration Number : 156275, Amman
National ID Number : 100047736
Invested Capital : JD 5,000
Total Workforce : 8
Activities : Distributors of electrical and lighting products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Naser Adel Al Monyyar , Proprietor & General Manager
NASER AL MONAYYAR TRADING EST
TATHBET AL DOLEAH FOR TRADING
Street : Al Yarmouk
Street
Area : Wadi Al Nasr
PO Box : 54
Town : Amman
Country : Jordan
Telephone : (962-6) 4900053
Facsimile : (962-6)
4900073 / 4640220
Mobile : (962-79)
5558578 / 5502244
Email : m.naser@oranje.com.jo / nmonayyar@yahoo.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Amman.
Name Position
· Naser Adel Al
Monyyar Proprietor
& General Manager
· Ayman Mohamed Sales
Manager
Date of
Establishment : 12th
July 2004
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 156275, Amman
National ID No. : 100047736
Invested Capital : JD 5,000
Mr Naser Adel Al Monyyar is the sole proprietor of the business.
Activities: Engaged in the import and distribution of electrical and lighting
products.
Import Countries: Europe and China
International Suppliers:
· Maxwell Lighting
Industries China
Brand Names: MAXBEST
Operating Trend: Steady
Subject has a workforce of 8 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
1,180,000 JD
1,350,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Naser Adel Al Monayyar, Proprietor
& General Manager
·
HSBC Bank Middle East
Khalid Bin Walid
Street
Jebel Hussein
PO Box: 925286
Amman
Tel: (962-6)
5660471 / 5607471
Fax: (962-6)
5692964
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.60.66 |
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|
1 |
Rs.100.80 |
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Euro |
1 |
Rs.80.72 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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 |
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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 |
-- |
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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.