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Report Date : |
02.10.2014 |
IDENTIFICATION DETAILS
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Name : |
LABIB & KHALED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
06.04.2000 |
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Com. Reg. No.: |
55615, |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject is engaged in the import and distribution of animal fodder,
vitamins, drugs and equestrian supplies |
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No. of Employees : |
10 |
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 `: LABIB & KHALED
Also Known As :
AL ASALAH FOR FEED & EQUESTRIAN SUPPLIES
Country of Origin :
Jordan
Legal Form :
Limited Liability Partnership
Registration Date :
6th April 2000
Commercial Registration Number :
55615, Amman
Chamber Membership Number :
90452
National ID Number :
200018309
Issued Capital :
JD 100,000
Paid up Capital :
JD 100,000
Total Workforce :
10
Activities :
Distributors of animal fodder, vitamins, drugs and equestrian supplies
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed :
Majedah Salous, Sales Manager
LABIB & KHALED AL SALOUS CO
AL
ASALAH FOR FEED & EQUESTRIAN SUPPLIES
Street : Madaaba
Street
Area : Al Yadodaha
Area
PO Box : 504
Town : Amman 11831
Country : Jordan
Telephone : (962-6) 4121881
Facsimile : (962-6)
4121881
Mobile : (962-77)
9999153
Email : al-asalah@mail.com.jo
Please note that the correct post code is 11831 and not 11931.
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Amman.
Name Position
·
Labib Mohamed Al Ahmed Al Salous Managing Partner
·
Khalid Fayez Ismail Al Salous Partner
· Majedah Salous Sales
Manager
Date of
Establishment : 6th
April 2000
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 55615, Amman
Chamber Member No. : 90452
National ID No. : 200018309
Issued Capital : JD 100,000
Paid up Capital : JD 100,000
·
Labib Mohamed Al Ahmed Al Salous 50%
· Khalid Fayez Ismail Al Salous 50%
Activities: Engaged in the import and distribution of animal fodder, vitamins,
drugs and equestrian supplies.
Import Countries: France, Netherlands and the Far East.
International Suppliers:
· Care Kart Netherlands
· Belstar France
Operating Trend: Steady
Subject has a workforce of 10 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
1,020,000 JD
1,065,000
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.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
|
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIS |
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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.