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Report Date : |
26.09.2014 |
IDENTIFICATION DETAILS
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Name : |
AL SHAGIRAT EXPORT & IMPORT EST |
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Registered Office : |
Guffin Al Khora |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
12.09.2005 |
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Com. Reg. No.: |
56006, Irbid |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
·
Subject is engaged in the import and distribution
of general foodstuffs, including dried foods, pulses and honey. ·
Subject also occasionally imports stone and
marble. |
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No. of Employees : |
05 |
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 : AL SHAGIRAT EXPORT & IMPORT EST
Country of Origin : Jordan
Legal Form : Sole Proprietorship
Registration Date : 12th September 2005
Commercial Registration Number : 56006, Irbid
National ID Number : 100266710
Invested Capital : JD 30,000
Total Workforce : 5
Activities : Distributors of general foodstuffs
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Yousef Mahmoud Mohamed Al Shagirat, Proprietor & General Manager
AL SHAGIRAT EXPORT & IMPORT EST
Location : Guffin Al
Khora
PO Box : 42
Town : Irbid
Country : Jordan
Telephone : (962-2) 6522260
Facsimile : (962-2)
6522260
Mobile : (962-77)
7413973
Email : alshagirat@yahoo.com
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Irbid.
Name Position
· Yousef Mahmoud
Mohamed Al Shagirat Proprietor
& General Manager
Date of
Establishment : 12th
September 2005
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 56006, Irbid
National ID No. : 100266710
Invested Capital : JD 30,000
Mr Yousef Mahmoud Mohamed Al Shagirat is the sole proprietor of the
business.
Activities: Engaged in the import and distribution of general foodstuffs, including
dried foods, pulses and honey.
Subject also occasionally imports stone and marble.
Import Countries: Europe and India.
International Suppliers:
· Apis Co India
· Bees Honey India
Operating Trend: Steady
Subject has a workforce of 5 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
800,000 JD
875,000
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
King Abdullah
Square
PO Box: 16
Irbid
Tel: (962-2)
7242251
Fax: (962-2)
7277596
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.61.02 |
|
|
1 |
Rs.99.42 |
|
Euro |
1 |
Rs.77.84 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
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.