MIRA INFORM REPORT

 

 

Report Date :

30.01.2014

 

IDENTIFICATION DETAILS

 

Name :

AMEEN SALEH ABU EISHES CO

 

 

Registered Office :

Bab Al Wad Street Bab Al Wad Zarqa

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

19.02.1981

 

 

Com. Reg. No.:

9598, Zarqa

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Subject is engaged in the import and distribution of general foodstuff, dried foods and pulses

 

 

No. of Employees :

14

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No complaints

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

SUMMARY

 

Company Name                         : AMEEN SALEH ABU EISHES CO

Also Known As                                      : AMEEN SALEH ABU EISHES AND SONS

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 19th February 1981

Commercial Registration Number            : 9598, Zarqa

Chamber Membership Number                : 379

Issued Capital                                        : JD 6,000

Paid up Capital                                      : JD 6,000

Total Workforce                                     : 14

Activities                                               : Distributors of general foodstuff, dried foods and pulses

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Person Interviewed                                 : Maher Ameen Saleh Abu Eishes, Partner

 

COMPANY NAME

 

AMEEN SALEH ABU EISHES CO

 

 

ALSO KNOWN AS

 

AMEEN SALEH ABU EISHES AND SONS

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Bab Al Wad Street

Area                 : Bab Al Wad

Town                 : Zarqa

Country             : Jordan

 

Telephone         : (962-5) 3866686 / 3985118

Facsimile          : (962-5) 3866686

Mobile               : (962-79) 6200200 / 5234135

Email                : maher_abuaisheh@hotmail.com

 
Premises

 

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Zarqa.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Ameen Saleh Abu Eishes                                                                  Managing Partner

 

·       Maher Ameen Saleh Abu Eishes                                                        Partner

 

·       Salah Ameen Saleh Abu Eishes                                                         Partner

 

·       Aouny Ameen Saleh Abu Eishes                                                        Partner

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 19th February 1981

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 9598, Zarqa

 

Chamber Member No. : 379

 

Issued Capital              : JD 6,000

 

Paid up Capital            : JD 6,000

 

Name of Partners                                                          

 

·       Ameen Saleh Abu Eishes                                                                 

 

·       Maher Ameen Saleh Abu Eishes                                                       

 

·       Salah Ameen Saleh Abu Eishes                                                        

 

·       Aouny Ameen Saleh Abu Eishes

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of general foodstuff, dried foods and pulses.

 

Import Countries: Europe and India

 

International Suppliers:

 

·       Mehta Export            India

·       Mosakan Overseas    India

 

Operating Trend: Steady

 

Subject has a workforce of 14 employees.

 

 

FINANCIAL DATA

 

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 1,850,000                             JD 2,000,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Egyptian Arab Land Bank

     Cinema Al Hamraa Street

PO Box: 110

Al Zarqa 13110

Tel: (962-6) 983326

Fax: (962-6) 983614

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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.62.20

UK Pound

1

Rs.103.12

Euro

1

Rs.84.96

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.