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Report Date : |
17.02.2014 |
IDENTIFICATION DETAILS
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Name : |
MOHAMED SALEH ABU QAYYAS AND SONS COMPANY |
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Registered Office : |
Al Yarmook Street Wadi Remam Area PO Box 7240 Amman 11118 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
1956 |
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Com. Reg. No.: |
23372, Amman |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in the import and distribution of general
foodstuff, dried foods and grains |
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No. of Employees : |
15 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Jordan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
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
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Source
: CIA |
Company Name : MOHAMED SALEH ABU QAYYAS AND SONS COMPANY
Also Known As : AL FARDOOS TRADING
Country of Origin : Jordan
Legal Form : Limited Liability Company
Start Date : 1956
Registration Date : 1980
Commercial Registration Number : 23372, Amman
Chamber Membership Number : 200114917
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
Total Workforce : 15
Activities : Distributors of general foodstuff, dried foods and grains
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
MOHAMED SALEH ABU QAYYAS AND SONS COMPANY
AL FARDOOS TRADING
Street : Al Yarmook
Street
Area : Wadi Remam
Area
PO Box : 7240
Town : Amman 11118
Country : Jordan
Telephone : (962-6) 4910667
/ 4910668
Facsimile : (962-6)
4911181
Mobile : (962-79)
5088652
Email : info@abuqayyasjo.com
/ abuqayyas_trd@hotmail.com
Subject operates from a small suite of offices that are rented and located
in the Central Business Area of Amman.
Branch Office (s)
Location Description
· Petra Street Office
premises
Amman
Tel: (962-6)
4649999
Fax: (962-6)
4911181
Name Position
· Abdulmoniem
Mohamed Abu Qayyas Managing Director
· Wayel Mohamed Abu
Qayyas Director
· Abdul Fattah
Mohamed Abu Qayyas Director
· Mahyoun Mohamed
Abu Qayyas Director
· Mohamed Mohamed
Abu Qayyas General
Manager
Date of
Establishment : 1980 However, subject’s
activities date back to 1956
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 23372, Amman
National ID No. : 200114917
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
· Abdulmoniem Mohamed
Abu Qayyas
· Wayel Mohamed Abu
Qayyas
· Abdul Fattah
Mohamed Abu Qayyas
· Mahyoun Mohamed
Abu Qayyas
Activities: Engaged in the import and distribution of general foodstuff, dried
foods and grains.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 15 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
1,880,000 JD
1,940,000
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
Email: secretariat@arabbank.com.jo
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.62.28 |
|
|
1 |
Rs.103.67 |
|
Euro |
1 |
Rs.85.18 |
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 |
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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 |
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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 |
|
<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.