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Report Date : |
08.05.2014 |
IDENTIFICATION DETAILS
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Name : |
BABYLON COMPANY FOR IMPORT AND EXPORT |
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Registered Office : |
Building No. 15, Madina Monawara Street, Amman |
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Country : |
Jordan |
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Date of Incorporation : |
29.09.2013 |
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Com. Reg. No.: |
181878-79 |
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Legal Form : |
Single Person Company |
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Line of Business : |
Subject is engaged in the import and distribution of general
foodstuffs, including oil, sugar and spices. |
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No. of Employees : |
3 |
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 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 |
Company Name :
BABYLON COMPANY FOR IMPORT AND EXPORT
Country of Origin :
Jordan
Legal Form :
Single Person Company
Registration Date :
29th September 2013
Commercial Registration Number :
181878-79
Trade Licence Number :
46877
National ID Number :
200136511
Issued Capital :
JD 50,000
Paid up Capital :
JD 50,000
Total Workforce :
3
Activities :
Distributors of general foodstuffs.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Kais Saleh Hassan Malalah, Managing Director
BABYLON COMPANY
FOR IMPORT AND EXPORT
Registered &
Physical Address
Building : Building No.
15
Street : Madina
Monawara Street
Town : Amman
Country : Jordan
Telephone : (962-6) 5412829
/ 5510706
Facsimile : (962-6)
5412829
Mobile : (962-79)
5891343
Email : kaismalalah@yahoo.com
Premises
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
Alawi Jameela Area Office
premises
Baghdad
Iraq
Name Nationality Position
Kais Saleh Hassan Malalah Iraqi Managing
Director
Date of Establishment : 29th September 2013
Legal Form : Single Person
Company
Commercial Reg. No. : 181878-79
Trade Licence No. : 46877
National ID No. : 200136511
Issued Capital : JD 50,000
Paid up Capital : JD 50,000
Name of
Shareholder (s) Percentage
Kais Saleh Hassan Malalah 100%
Activities: Engaged in the import and
distribution of general foodstuffs, including oil, sugar and spices.
Import Countries: Europe
and the Far East
Subject has a workforce of 3 employees.
Subject is a newly formed business and as a result financial information
is not currently available.
Arab Bank Plc
Shmeisani Branch
PO Box: 950545 & 950544
Amman 11195
Tel: (962-6) 5607231 / 5607115
Fax: (962-6) 5606793 / 5606830
No complaints regarding subject’s payments have been reported.
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.60.04 |
|
|
1 |
Rs.101.97 |
|
Euro |
1 |
Rs.83.58 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NNA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.