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Report Date : |
23.07.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Al Birr Building
No. 88, 2nd Floor, Suite No. 205, Abdul Hameed Sharaf Street, Shmeisani, P O Box 941801, Amman 11194 |
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Country : |
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Date of Incorporation : |
01.05.2013 |
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Com. Reg. No.: |
32464, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the
import and distribution of ferrous and non-ferrous metals as well as HMS, LMS
and medical products. |
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No of Employees : |
04 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New business |
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Payment Behaviour : |
Unknown |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Jordan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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.
|
Source
: CIA |
Company Name : ASIA STAR GLOBAL CO
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 1st May 2013
Commercial Registration Number : 32464, Amman
National ID Number : 200133496
Issued Capital : JD 10,000
Paid up Capital : JD 10,000
Total Workforce : 4
Activities : Distributors of ferrous and non-ferrous metals, HMS, LMS and medical
products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
ASIA STAR GLOBAL CO
Registered &
Physical Address
Building : Al Birr Building No. 88, 2nd
Floor, Suite No. 205
Street : Abdul Hameed Sharaf Street
Area : Shmeisani
PO Box : 941801
Town : Amman 11194
Country : Jordan
Telephone : (962-6) 5673236 / 5655506 / 5653636
Facsimile : (962-6) 5673237
Email : moh_nurse@yahoo.com / asiastar1999@yahoo.com
Premises
Subject operates from a small suite of offices that are rented and located in the Central Business Area of Amman.
Name Position
·
Zaid Naif Issa Qutaish Managing
Director
·
Raedha
Qutaish Director
·
Mohamed
Abdullatif Qutaish General
Manager
Date of Establishment : 1st
May 2013
Legal Form :
Limited Liability Company
Commercial Reg. No. : 32464, Amman
National ID No. :
200133496
Issued Capital : JD 10,000
Paid up Capital : JD 10,000
Name of Shareholder
(s)
·
Zaid Naif Issa Qutaish
·
Raedha
Qutaish
Activities: Engaged in the import and distribution of
ferrous and non-ferrous metals as well as HMS, LMS and medical products.
Import
Countries: Europe and the
Far East
Subject has a
workforce of 4 employees.
Subject is a newly
formed business and as a result financial information is not currently
available.
·
Bank of
Jordan Ltd
Jebel Amman
PO Box: 2140
Amman
Tel: (962-6) 642034
Unknown
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.23 |
|
UK Pound |
1 |
Rs.102.86 |
|
Euro |
1 |
Rs.81.44 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
MNL |
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 |
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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 |
|
-- |
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.