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Report Date : |
12.02.2014 |
IDENTIFICATION DETAILS
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Name : |
ARMOUSH TOURIST INVESTMENT COMPANY |
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Registered Office : |
Al Salam Building Arar Street Wadi Saqrah |
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Country : |
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Date of Incorporation : |
1996 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in the operation of a McDonald’s restaurant
franchise |
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No. of Employees : |
1,500 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Jordan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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. Jordan will continue to depend heavily on foreign assistance to finance the deficit in 2013
|
Source
: CIA |
Company Name : ARMOUSH TOURIST INVESTMENT COMPANY
Trade Name : MCDONALD’S JORDAN
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 1996
Issued Capital : JD 1,500,000
Paid up Capital : JD 1,500,000
Total Workforce : 1,500
Activities : Operation of a McDonald’s restaurant franchise in Jordan
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Adel Halaseh, Financial Manager
ARMOUSH TOURIST INVESTMENT COMPANY
MCDONALD’S
JORDAN
Building : Al Salam
Building
Street : Arar Street
Area : Wadi Saqrah
PO Box : 851792
Town : Amman 11185
Country : Jordan
Telephone : (962-6) 5657713
Facsimile : (962-6)
5657712
Mobile : (962-77)
7454505
Email : admin@mcdjo.com / adeli.halaseh@mcdjo.com
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Amman.
Name Position
· Ahmed Helmi Armoush Managing
Director
· Ali Helmi Armoush Director
· Raed Salami Al
Zagal General Manager
· Adel Halaseh Financial
Manager
Date of
Establishment : 1996
Legal Form : Limited Liability
Company
Issued Capital : JD 1,500,000
Paid up Capital : JD 1,500,000
· Ahmed Helmi
Armoush
· Ali Helmi Armoush
Activities: Engaged in the operation of a McDonald’s restaurant franchise in
Jordan.
Import Countries: Europe and the Far East
Subject has a workforce of approximately 1,500 employees.
Companies registered in Jordan are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
·
Bank of Jordan Ltd
Jebel Amman
PO Box: 2140
Amman
Tel: (962-6)
5642034
No complaints regarding subject’s payments have been reported.
According to local sources, subject meets its payment obligations in a
timely manner and the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.44 |
|
|
1 |
Rs.102.48 |
|
Euro |
1 |
Rs.84.28 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
<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.