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Report Date : |
17.06.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Commercial
Building, Al Quds Street, Moqableen Area 644 & 344, Amman 11623 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
19.05.2003 |
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Com. Reg. No.: |
7914 |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Engaged in the import
and distribution of resin, pigments, solvents and chemical raw materials |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Jordan |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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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
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Source
: CIA |
Company Name : GREEN HILL TRADE AND CHEMICALS CO
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 19th May 2003
Commercial Registration Number : 7914, Amman
National ID Number : 200082759
Issued Capital : JD 100,000
Paid up Capital : JD 100,000
Total Workforce : 15
Activities : Distributors of resin, pigments, solvents and chemical raw materials
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Nidal Mujahed Arabi Abu Doleh, Director
GREEN HILL TRADE
AND CHEMICALS CO
Building : Commercial Building
Street : Al Quds Street
Area : Moqableen Area
PO Box : 644 & 344
Town : Amman 11623
Country : Jordan
Telephone : (962-6) 4200681 / 4201682 / 4206940
Facsimile : (962-6) 4200561
Mobile : (962-79) 5998511 / (962-77)
5444244
Email : ghtc@orange.jo
/ doleh78@link.net.jo
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Amman.
Name Position
·
Mujahed
Arabi Abu Doleh Managing
Director
·
Nidal
Mujahed Arabi Abu Doleh
Director
·
Jihad
Mujahed Arabi Abu Doleh Director
·
Faiq
Micheal Al Sayegh Director
Date of Establishment : 19th
May 2003
Legal Form :
Limited Liability Company
Commercial Reg. No. : 7914, Amman
National ID No. :
200082759
Issued Capital : JD 100,000
Paid up Capital : JD 100,000
·
Mujahed
Arabi Abu Doleh
·
Nidal
Mujahed Arabi Abu Doleh
·
Jihad
Mujahed Arabi Abu Doleh
·
Faiq
Micheal Al Sayegh
·
Jordan
English Paints Co
Amman
Activities: Engaged in the import and distribution of
resin, pigments, solvents and chemical raw materials.
Import
Countries: Europe and GCC
countries.
International Suppliers:
·
Total
Europe France
·
Omya
Group France
·
Meghmani
Organic India
·
Noble
Enterprises (Noble NC) Thailand
·
X-rite GmbH Germany
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 2,325,000 JD 2,500,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Nidal Mujahed Arabi Abu Doleh, Director
·
Cairo
Amman Bank
Shabsough Street
PO Box: 715
Amman
Tel: (962-6) 5639321 / 5623100 / 5623109
Fax: (962-6) 5639328
No complaints
regarding subject’s payments have been reported.
Credit amount 30,000
Amount overdue 0
Payment terms 90
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
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. 60.00 |
|
|
1 |
Rs. 101.99 |
|
Euro |
1 |
Rs. 81.25 |
INFORMATION DETAILS
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Analysis Done by
: |
SMT |
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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 |
|
<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.