MIRA INFORM REPORT

 

 

Report Date :

03.06.2014

 

IDENTIFICATION DETAILS

 

Name :

DRAZ TRADING EST FOR LEATHER AND WOOL

 

 

Registered Office :

Wasfi Al Tal Street, P O Box 630263, Zarqa 11163

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

03.08.2007

 

 

Com. Reg. No.:

507509, Zarqa

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Engaged in the import, export and distribution of leather and wool.

 

 

No of Employees :

05

 

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 – March 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Jordan

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

 

C2

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

 

 

 

 

 

SUMMARY

 

Concern Name                                      : DRAZ TRADING EST FOR LEATHER AND WOOL

Country of Origin                                   : Jordan

Legal Form                                           : Sole Proprietorship

Registration Date                                  : 3rd August 2007

Commercial Registration Number           : 507509, Zarqa

National ID Number                               : 100386497

Invested Capital                                    : JD 10,000

Total Workforce                                     : 5

Activities                                               : Distributors of leather and wool

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

 

 

CONCERN NAME

 

DRAZ TRADING EST FOR LEATHER AND WOOL

 

 

concern ADDRESS

 

Registered & Physical Address

Location           : Wasfi Al Tal Street

PO Box            : 630263

Town                : Zarqa 11163

Country             : Jordan

Telephone         : (962-5) 3981919 / 3981510

Facsimile          : (962-5) 3981515

Mobile              : (962-79) 5781171

 

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

·       Tayser Mohamed Moosa Draz                                                           Proprietor & General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 3rd August 2007

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.   : 507509, Zarqa

 

National ID No.             : 100386497

 

Invested Capital           : JD 10,000

 

Mr. Tayser Mohamed Moosa Draz is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities: Engaged in the import, export and distribution of leather and wool.

 

Import Countries: Iraq

 

Export Countries: Turkey, Italy, France, China, India, Lebanon and Egypt

 

Operating Trend: Steady

 

Subject has a workforce of 5 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 Revenue                           JD 1,310,000                             JD 1,385,000

 

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

 

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

 

 

BANKERS

 

·       Arab Bank Plc

King Hussein Street

PO Box: 145

Zarqa

Tel: (962-5) 3983381

Fax: (962-5) 3994522

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

According to local sources, subject meets its payment obligations in a timely manner and the business is considered to be a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.14

UK Pound

1

Rs.99.02

Euro

1

Rs.80.63

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

MNL

 

 

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.