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Report Date : |
13.02.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Garden Street, Swaifiyah Area 934 Amman 11953 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
22.02.2006 |
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Com. Reg. No.: |
372, Amman |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the import and distribution of fresh and frozen meat,
poultry and foodstuffs. |
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No of Employees : |
5 |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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. Jordan will continue to depend heavily on foreign
assistance to finance the deficit in 2013.
|
Source
: CIA |
Company Name :
BAQOUBAH TRADING CO
Country of Origin :
Jordan
Legal Form :
Limited Liability Partnership
Registration Date :
22nd February 2006
Commercial Registration Number :
372, Amman
National ID Number :
200006331
Issued Capital :
JD 30,000
Paid up Capital :
JD 30,000
Total Workforce :
5
Activities :
Distributors of fresh and frozen meat, poultry and foodstuffs.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
BAQOUBAH TRADING CO
Street : Garden
Street
Area : Swaifiyah
Area
PO Box : 934
Town : Amman 11953
Country : Jordan
Telephone : (962-6) 5819098
Facsimile : (962-6)
5819097 / 5819087
Mobile : (962-79)
7608887 / 9331957 / 777184000
Please note that subject’s previous address was, Building No. 4, 3rd
Floor, Sweifieh Areaal Wikalat Street, Telal Al Ali, Amman.
Subject operates from a small suite of offices that are rented and located
in the Central Business Area of Amman.
Name Position
· Fadel Jaffaar Managing
Partner
· Haytham Fadel
Jaffaar Partner
· Dr Mohamed Al
Shamary General
Manager
Date of
Establishment : 22nd
February 2006
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 372, Amman
National ID No. : 200006331
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
· Fadel Jaffaar
· Haytham Fadel
Jaffaar
Activities: Engaged in the import and distribution of fresh and frozen meat,
poultry and foodstuffs.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 5 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 1,820,000
JD 2,100,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Jordan National Bank
Jabal Amman Branch
PO Box: 1578
Amman 11118
Tel: (962-6)
5642391
Fax: (962-6)
5628809
·
Arab Bank Plc
Shmeisani Branch
PO Box: 950545
& 950544
Amman 11195
Tel: (962-6)
5607231 / 5607115
Fax: (962-6)
5606793 / 5606830
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.12 |
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|
1 |
Rs. 102.25 |
|
Euro |
1 |
Rs. 84.72 |
INFORMATION DETAILS
|
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.