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Report Date : |
23.08.2014 |
IDENTIFICATION DETAILS
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Name : |
LIFE FOOD TRADING CO LTD (TAMARI) |
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Registered Office : |
Tamari Building No. 9, Yahia Ibn Al Mukhtar Street, North Marka, 22, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
21.05.1992 |
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Com. Reg. No.: |
7290, |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the import and distribution of general foodstuffs,
including tea, sugar, rice and fish. |
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No of Employees : |
30 |
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) |
|
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.
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Source
: CIA |
Company Name : LIFE FOOD TRADING CO LTD (TAMARI)
Country of Origin : Jordan
Legal Form :
Limited Liability Partnership
Start Date :
21st May 1992
Registration Date : 21st
May 2002
Commercial
Registration Number : 7290,
Amman
Chamber Membership
Number : 97159/8
National ID Number : 200013337
Issued Capital : JD
30,000
Paid up Capital : JD
30,000
Total Workforce : 30
Activities :
Distributors of general foodstuffs.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Moaz Talikah,
Sales Manager
LIFE FOOD TRADING
CO LTD (TAMARI)
Building : Tamari
Building No. 9
Street : Yahia Ibn Al
Mukhtar Street
Area : North Marka
PO Box : 22
Town : Amman 11118
Country : Jordan
Telephone : (962-6) 4892843
/ 4892844
Facsimile : (962-6)
4893757
Mobile : (962-79) 9070505
Email : teacup@nets.jo
/ trading@butterflytea.net
Subject operates from a medium sized suite of offices and a warehouse that
are owned and located in the Suburban Business Area of Amman.
Name Position
· Marwan Lodific Tamari Managing
Partner
· Lodific Wabeh Tamari Partner
· Thamer Zuraiqi Administration
Manager
· Mostafa Nuaimi Commercial
Manager
· Majd Hafawa Administration
Executive
· Samir Naurtra Financial
Controller
· Moaz Talikah Sales
Manager
Date of
Establishment : 21st
May 1992, however subject was registered on 21st May 2002.
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 7290, Amman
Chamber Member No. : 97159/8
National ID No. : 200013337
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
· Marwan Lodific Tamari
· Lodific Wabeh Tamari
Activities: Engaged in the import and distribution of general foodstuffs, including
tea, sugar, rice and fish.
Import Countries: Sri Lanka, India, Thailand, Indonesia and
Malaysia.
International Suppliers:
· Ceylon Tea Sri Lanka
· Empire Tea Sri Lanka
· Imperial Tea Sri Lanka
· R B Basmati India
Operating Trend: Steady
Subject has a workforce of 30 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
3,115,000 JD
3,400,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Arab Bank Plc
Shmeisani Branch
PO Box: 950545
& 950544
Amman 11195
Tel: (962-6)
5607231 / 5607115
Fax: (962-6)
5606793 / 5606830
·
Housing Bank
Parliament Street
PO Box: 7693
Amman
Tel: (962-6)
5667126
·
HSBC Bank Middle East
Jabel Amman
PO Box: 925286
Amman
Tel: (962-6) 5518090
Fax: (962-6)
5518085
No complaints regarding subject’s payments have been reported.
Credit amount 100,000
Amount overdue 0
Payment terms 90
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
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 company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.44 |
|
UK Pound |
1 |
Rs.100.24 |
|
Euro |
1 |
Rs.80.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SMN |
RATING EXPLANATIONS
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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.