MIRA INFORM REPORT

 

 

Report No. :

354937

Report Date :

22.12.2015

 

IDENTIFICATION DETAILS

 

Name :

HISHAM ALI DIAB AL ZOUBI & PARTNERS CO

 

 

Registered Office :

Zayed Bin Al Dafna Street, Al Muqablin Area, 850918, Amman 11185

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

17.07.1991

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Subject engaged in the import and distribution of general foodstuff products and confectionery items.

 

 

No. of Employee :

120

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No complaints

 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Jordan

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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 first decade of the 2000s, implemented significant economic reforms, such as opening up foreign trade 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 since, however, 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. To diversify its energy mix, Jordan is currently exploring nuclear power generation, exploitation of abundant oil shale reserves and renewable technologies, as well as the import of Israeli offshore gas. 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 even as an influx of over 620,000 Syrian refugees since 2011 put additional pressure on expenditures.

 

Source : CIA

SUMMARY

 

Company Name                                    : HISHAM ALI DIAB AL ZOUBI & PARTNERS CO

Doing Business As                                : AL ZANBAKA ESTABLISHMENT

Country of Origin                                   : Jordan

Legal Form                                           : Limited Liability Partnership

Registration Date                                  : 17th July 1991

Commercial Registration Number           : 56252

Chamber Membership Number               : 34762

National ID Number                               : 200009576

Issued Capital                                       : JD 30,000

Paid up Capital                                     : JD 30,000

Total Workforce                         : 120

Activities                                               : Distributors of general foodstuff products and confectionery items.

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Person Interviewed                                : Rawida Hamdan, Public Relations Officer

 

COMPANY NAME

 

HISHAM ALI DIAB AL ZOUBI & PARTNERS CO

 

DOING BUSINESS AS: AL ZANBAKA ESTABLISHMENT

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Zayed Bin Al Dafna Street

Area                 : Al Muqablin Area

 

PO Box            : 850918

 

Town                : Amman 11185

Country : Jordan

 

Telephone         : (962-6) 4202225 / 4202226 / 4202227 / 4200083

Facsimile          : (962-6) 4200063

Mobile              : (962-79) 9771829

Email                : info@alzanbaka.com / zanbaka@index.com.jo

 

Premises

 

Subject operates from a medium sized suite of offices and a supermarket that are rented and located in the Central Business Area of Amman.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Building No. 58                                                                                 Rented office & warehouse

Ali Nasouh Al Taher

Sweifiyeh

Amman

     Tel: (962-6) 5825556 / 5825553

     Fax: (962-6) 5825558

 

 

KEY PRINCIPALS

 

     Name                                                           Nationality                    Position

 

·       Hisham Ali Diab Al Zoubi                              Jordanian                      Managing Partner

 

·       Issam Ali Diab Al Zoubi                                Jordanian                      Partner

 

·       Wisam Ali Diab Al Zoubi                               Jordanian                      Partner

 

·       Ala'a Ali Diab Al Zoubi                                  Jordanian                      Partner

 

·       Nadeem Ali Diab Al Zoubi                             Jordanian                      Partner

 

·       Ali Abdul Jabar                                                    -                            Financial Controller

 

·       Bassam Nassereddine                                         -                            Sales Manager

 

·       Adnan Al Talla                                                     -                            Commercial Manager

 

·       Rania Eid                                                            -                            Administration Executive

 

·       Rawida Hamdan                                                  -                            Public Relations Officer

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 17th July 1991

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.   : 56252

 

Chamber Member No.  : 34762

 

National ID No.             : 200009576

 

Issued Capital              : JD 30,000

 

Paid up Capital            : JD 30,000

 

Name of Partners (s)                                               Percentage

 

·       Hisham Ali Diab Al Zoubi                                          27%

 

·       Issam Ali Diab Al Zoubi                                            27%

 

·       Nadeem Ali Diab Al Zoubi                                         21%

 

·       Wisam Ali Diab Al Zoubi                                           15%

 

·       Ala'a Ali Diab Al Zoubi                                              10%

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of general foodstuff products and confectionery items.

 

Import Countries: United States of America, United Kingdom, Italy, Spain and Greece.

 

Agencies held:

 

·       American Garden                  United States of America

·       Golden West Nuts                United States of America

·       Witors                                  Italy

·       Pasta Zara                           Italy

·       Morinita                                Greece

·       Dupon't Disigny                   France

·       Sweets of Oman                   Oman

 

Brand Names: MASTERWRAP, EBIA, ROYAL GARDEN, BEE, ANJAR and ROYAL OAK

 

Operating Trend: Steady

 

Subject has a workforce of 120 employees.

 

 

FINANCIAL DATA

 

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 6,820,000                             JD 7,040,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Arab Bank Plc

Sweifiyeh

     Amman

     Tel: (962-6) 5818667

     Fax: (962-6) 5818273

 

·       Bank of Jordan Ltd

King Hussain Street

PO Box: 37

Amman

Tel: (962-6) 5630301

Fax: (962-6) 5638889

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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.66.32

UK Pound

1

Rs.98.99

Euro

1

Rs.72.13

JOD

1

Rs.93.50

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

Report Prepared by :

TRU

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.