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Report Date : |
23.09.2014 |
IDENTIFICATION DETAILS
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Name : |
JAMAL ABU SALEM & PARTNER |
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Registered Office : |
Building No. 92, Queen
Noor Street, Shmeisani Area, P O Box: 4175, Amman 11131 |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
25.04.2004 |
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Com. Reg. No.: |
70939, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is
engaged in the provision of customs clearance services, forwarding and land
transportation services. |
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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 – 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 :
JAMAL ABU SALEM & PARTNER
Also Known As : AL AHRAM CLEARING & TRANSPORTING
Country of Origin : Jordan
Legal Form :
Limited Liability Company
Registration Date : 25th
April 2004
Commercial
Registration Number : 70939,
Amman
National ID Number : 200025724
Issued Capital : JD
50,000
Paid up Capital : JD
50,000
Total Workforce : 15
Activities :
Providers of customs clearance services, forwarding and land transportation services
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Tariq Abdul
Salam Mohamed Al Kodari , General Manager
JAMAL ABU SALEM
& PARTNER
AL
AHRAM CLEARING & TRANSPORTING
Building : Building No. 92
Street : Queen Noor Street
Area : Shmeisani Area
PO Box : 4175
Town : Amman 11131
Country : Jordan
Telephone : (962-6) 5677460 / 5689850
Facsimile : (962-6) 5677480
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Amman.
Name Position
·
Jamal
Ibrahim Ahmed Abu Salem Managing
Director
·
Mohamed
Ibrahim Ahmed Abu Salem Director
·
Tariq
Abdul Salam Mohamed Al Kodari General
Manager
Date of Establishment : 25th
April 2004
Legal Form :
Limited Liability Company
Commercial
Reg. No. : 70939, Amman
National
ID No. : 200025724
Issued Capital : JD 50,000
Paid up Capital : JD 50,000
·
Jamal
Ibrahim Ahmed Abu Salem 97%
·
Mohamed
Ibrahim Ahmed Abu Salem
3%
Activities: Engaged in the provision of customs clearance
services, forwarding and land transportation services.
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 925,000 JD 1,060,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
HSBC
Bank Middle East
Khalid Bin Walid Street
Jebel Hussein
PO Box: 925286
Amman
Tel: (962-6) 5660471 / 5607471
Fax: (962-6) 5692964
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.60.79 |
|
|
1 |
Rs.99.30 |
|
Euro |
1 |
Rs.78.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.