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Report Date : |
30.09.2014 |
IDENTIFICATION DETAILS
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Name : |
ALI ABU AWWAD AND PARTNERS CO |
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Doing Business As : |
JABAL AL SHAYKH
CO |
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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 : |
09.07.2002 |
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Com. Reg. No.: |
64135, Irbid |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the import and distribution of general foodstuffs,
including dried foods. |
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No. of Employees : |
12 |
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 |
|
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 : ALI ABU AWWAD AND PARTNERS CO
Doing Business As : JABAL AL
SHAYKH CO
Country of Origin : Jordan
Legal Form :
Limited Liability Partnership
Registration Date : 9th
July 2002
Commercial
Registration Number : 64135,
Irbid
National ID Number : 200026255
Issued Capital : JD
10,000
Paid up Capital : JD
10,000
Total Workforce : 12
Activities :
Distributors of general foodstuffs
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ali Ahmed
Khalil Abu Awwad, Managing Partner
ALI ABU AWWAD AND
PARTNERS CO
DOING BUSINESS AS: JABAL AL SHAYKH CO
Location : Queen Rania Street
PO Box : 230013
Town : Irbid
Country : Jordan
Telephone : (962-2) 740014 / 740015
Facsimile : (962-2) 740015
Mobile : (962-79) 5570499
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Irbid.
Name Position
·
Ali
Ahmed Khalil Abu Awwad Managing
Partner
·
Mohamed
Ahmed Khalil Abu Awwad Partner
·
Majed
Ahmed Khalil Abu Awwad Partner
·
Ayad
Ahmed Khalil Awwad Partner
Date of Establishment : 9th
July 2002
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 64135, Irbid
National ID No. : 200026255
Issued Capital : JD 10,000
Paid up Capital : JD 10,000
·
Ali
Ahmed Khalil Abu Awwad
·
Mohamed
Ahmed Khalil Abu Awwad
·
Majed
Ahmed Khalil Abu Awwad
·
Ayad
Ahmed Khalil Awwad
Activities: Engaged in the import and distribution of general
foodstuffs, including dried foods.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 12 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 1,365,000 JD 1,490,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Egyptian
Arab Land Bank
Baghdad Street
PO Box: 110
Irbid 21110
Tel: (962-6) 242200 / 242209
Fax: (962-6) 242142
No complaints
regarding subject’s payments have been reported.
According to local sources,
subject enjoys a good reputation for the quality of its products with nothing
detrimental uncovered regarding the manner in which operations are conducted.
As such the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.42 |
|
|
1 |
Rs.99.72 |
|
Euro |
1 |
Rs.77.93 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
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.