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Report No. : |
319032 |
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Report Date : |
29.04.2015 |
IDENTIFICATION DETAILS
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Name : |
MARADEEM INTERNATIONAL TRADING COMPANY |
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Registered Office : |
Anwar Paris Complex, 2nd Floor, Offices 204 & 205, Paris Street, Sweifieh PO Box: 5138, Amman 11953 |
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Country : |
Jordan |
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Date of Incorporation : |
30.11.2011 |
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Com. Reg. No.: |
25030, Amman |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in the import and distribution of rock phosphate,
mpk, npk, gas, oil meat, rice and sugar |
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No. of Employee : |
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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Jordan |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 and resulting government debt. King ABDALLAH during the 2000s implemented significant economic reforms, such as opening the trade regime and privatizing state-owned companies, that attracted foreign investment and contributed to average annual economic growth of 8% for 2004 through 2008. The global economic slowdown and regional turmoil in the past few years, however, have reduced the average annual growth rate to 2.6% for the 2010-2013 period and hurt export-oriented sectors, construction, and tourism. Jordan's finances have 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 August 2012, to correct budgetary and balance of payments imbalances, Jordan entered into a $2.1 billion, three year International Monetary Fund Stand-By Arrangement. In 2014, fiscal reform measures enacted in the previous few years continued to boost government revenues and reduced the budget deficit as an influx of Syrian refugees put additional pressure on expenditures.
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Source
: CIA |
Company Name :
MARADEEM INTERNATIONAL TRADING COMPANY
Country of Origin :
Jordan
Legal Form :
Limited Liability Company
Registration Date :
30th November 2011
Commercial Registration Number :
25030, Amman
National ID Number :
200118764
Issued Capital :
JD 238,000
Paid up Capital :
JD 238,000
Total Workforce :
10
Activities :
Distributors of rock phosphate, MPK, NPK, gas, oil meat, rice and sugar
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Dr Kamel Mohamed Yousef Al Khatib, Director
MARADEEM
INTERNATIONAL TRADING COMPANY
Building : Anwar Paris
Complex, 2nd Floor, Offices 204 & 205
Street : Paris Street
Area : Sweifieh
PO Box : 5138
Town : Amman 11953
Country : Jordan
Mobile : (962-77)
5690662
Email : info@badergroup.net
Subject operates from a small suite of offices that are rented and located
in the Central Business Area of Amman.
Name Nationality Position
· Awad Bin Awyed Bin Zuhair Al Hamdi Saudi Managing
Director
· Abdul Karim Bin
Awyed Bin Zuhair Al Hamdi Saudi Director
· Dr Kamel Mohamed
Yousef Al Khatib Jordanian Director
· Hamdallah Mohamed
Yousef Al Khatib Jordanian Director
Date of
Establishment : 30th
November 2011
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 25030, Amman
National ID No. : 200118764
Issued Capital : JD 238,000
Paid up Capital : JD 238,000
· Awad Bin Awyed Bin
Zuhair Al Hamdi
· Abdul Karim Bin
Awyed Bin Zuhair Al Hamdi
· Dr Kamel Mohamed
Yousef Al Khatib
· Hamdallah Mohamed
Yousef Al Khatib
· Bader Cement Co
Amman
Activities: Engaged in the import and distribution of rock phosphate, MPK, NPK,
gas, oil meat, rice and sugar.
Import Countries: Europe and the Far East.
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 31/12/13: Year Ending
31/12/14:
Total sales JD 2,300,000 JD 2,600,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Arab Jordan Investment Bank
Ibn Hani Street
Shmeisani
PO Box: 8797
Amman 11121
Tel: (962-6)
5607126 / 5607138
Fax: (962-6)
5681482 / 5690646
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.33 |
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1 |
Rs.96.52 |
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Euro |
1 |
Rs.68.93 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
ASH |
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.