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Report Date : |
01.10.2014 |
IDENTIFICATION DETAILS
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Name : |
MOUSA ELAYAN & ALAA AL DEEN ABU HASHEM |
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Registered Office : |
North Marqa Area,
P O Box: 330892, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
27.11.2001 |
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Com. Reg. No.: |
61739, |
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Legal Form : |
General Partnership |
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Line of Business : |
Manufacture of
plastic containers and closures. |
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No. of Employees : |
45 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Jordan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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. 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 : MOUSA ELAYAN & ALAA AL DEEN ABU HASHEM
Also Known As : MODERN
PLASTIC INDUSTRIES CO
Country of Origin : Jordan
Legal Form :
General Partnership
Registration Date : 27th
November 2001
Commercial
Registration Number : 61739,
Amman
National ID Number : 200059386
Partners Capital : JD 30,000
Total Workforce : 45
Activities :
Manufacturers of plastic containers and closures
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
MOUSA ELAYAN &
ALAA AL DEEN ABU HASHEM
MODERN PLASTIC INDUSTRIES
CO
Location : North Marqa Area
PO Box : 330892
Town : Amman 11134
Country : Jordan
Telephone : (962-6) 4888002
Facsimile : (962-6) 4888099
Mobile : (962-79) 6963640 / 5802224
Email : modern4888002@yahoo.com / modern4888002@gmail.com / info@modernjo.com
Subject operates from
a medium sized suite of offices and a factory that are rented and located in
the Suburban Business Area of Amman.
Name Position
·
Mousa
Ali Mohamed Elayan Managing
Partner
·
Alaa Al
Deen Mohamed Mahmoud Abu Hashem Partner
·
Shyma
Ahmed Administration
Executive
Date of Establishment : 27th
November 2001
Legal Form :
General Partnership
Commercial Reg. No. : 61739, Amman
National ID No. :
200059386
Partners Capital : JD 30,000
·
Mousa
Ali Mohamed Elayan
·
Alaa Al
Deen Mohamed Mahmoud Abu Hashem
Activities: Engaged in the manufacture of plastic
containers and closures.
Import
Countries: Europe and GCC
countries.
Operating Trend: Steady
Subject has a
workforce of 45 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 2,100,000 JD 2,330,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Arab
Banking Corporation
Matalqa Centre Branch
11th August Street
PO Box: 926691
Amman 11110
Tel: (962-6) 4664183 / 4664185
Fax: (962-6) 4692713
No complaints
regarding subject’s payments have been reported.
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.61.61 |
|
|
1 |
Rs.100.28 |
|
Euro |
1 |
Rs.78.21 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
|
|
Report Prepared
by : |
NIT |
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 |
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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 |
|
|
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.