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Report Date : |
16.10.2014 |
IDENTIFICATION DETAILS
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Name : |
JAMIL SHIHAB AND PARTNERS CO |
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Registered Office : |
Jerash Street, Shukhneh, Hay Masoum, PO Box 151033, Zarqa 13115 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
06.09.1998 |
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Com. Reg. No.: |
50769 |
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Legal Form : |
General Partnership |
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Line of Business : |
Subject is engaged in the import and distribution of general foodstuffs,
including dried seeds, sunflower seeds, sesame seeds, bird and pet food. |
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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 |
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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 :
JAMIL SHIHAB AND PARTNERS CO
Also Known As :
JAMIL SHIHAB TRADING CO AND PARTNERS
Country of Origin :
Jordan
Legal Form :
General Partnership
Registration Date :
6th September 1998
Commercial Registration Number :
50769
Chamber Membership Number :
62548
National ID Number :
200078617
Partners Capital :
JD 10,000
Total Workforce :
10
Activities :
Distributors of general foodstuffs
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Ahmed Jamil Qasem Ismail Shihab, Partner
JAMIL SHIHAB AND PARTNERS CO
ALSO KNOWN AS: JAMIL SHIHAB
TRADING CO AND PARTNERS
Registered &
Physical Address
Street : Jerash
Street
Area : Shukhneh,
Hay Masoum
PO Box : 151033
Town : Zarqa 13115
Country : Jordan
Telephone : (962-5) 3845249
Facsimile : (962-5)
3845249
Mobile : (962-79)
5536481 / 5536542
Email : info@shihabtrading.com
/ ahmed@shihabtrading.com
/ jehad@shihabtrading.com
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Central Business Area of Zarqa.
Name Position
Jamil Qasem Ismail Shihab Managing
Partner
Ahmed Jamil Qasem Ismail Shihab Partner
Jehad Jamil Qasem Ismail Shihab Partner
Akram Jamil Qasem Ismail Shihab Partner
Ismail Jamil Qasem Ismail Shihab Partner
Amjad Jamil Qasem Ismail Shihab Partner
Date of Establishment : 6th
September 1998
Legal Form : General Partnership
Commercial Reg. No. : 50769
Chamber Member No. : 62548
National ID No. : 200078617
Partners Capital : JD 10,000
Name of Partners (s) Percentage
Jamil Qasem Ismail Shihab 17.5%
Ahmed Jamil Qasem Ismail Shihab 17.5%
Jehad Jamil Qasem Ismail Shihab 17.5%
Akram Jamil Qasem Ismail Shihab 17.5%
Ismail Jamil Qasem Ismail Shihab 15.0%
Amjad Jamil Qasem Ismail Shihab 15.0%
Activities: Engaged in the import and distribution of general foodstuffs, including
dried seeds, sunflower seeds, sesame seeds, bird and pet food.
Import Countries: Poland, Netherlands, India and the United States
of America.
International
Suppliers:
Miekoma Poland
Meeiumie Netherlands
Harricwools United States of
America
Prakash Export India
Amar Export India
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
940,000 JD
1,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local sources.
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.
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.11 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.68 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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 |
-- |
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.