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Report No. : |
306587 |
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Report Date : |
10.02.2015 |
IDENTIFICATION DETAILS
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Name : |
ELNILEIN TRADING
EST |
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Registered Office : |
Building No. 220, Office No. 503 Al Madina Al Monawara Street 150976 Amman 11115 |
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Country : |
Jordan |
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Date of Incorporation : |
07.12.1991 |
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Com. Reg. No.: |
66965 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Engaged in the import and distribution of foodstuffs, readymade garments, haberdashery, electrical, electronic and medical laboratory equipment and pharmaceuticals. |
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No. of Employee : |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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. 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.
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Source
: CIA |
Company Name : ELNILEIN
TRADING EST
Country of Origin : Jordan
Legal Form :
Sole Proprietorship
Registration Date : 7th
December 1991
Commercial Registration
Number : 66965
Chamber Membership
Number : 230114
National ID Number : 1000017691
Invested Capital :
JD 10,000
Total Workforce : 12
Activities :
Distributors of foodstuffs, readymade garments, haberdashery, electrical,
electronic and medical laboratory equipment
and pharmaceuticals.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ahmed Mohamed
Salem Lubbad, Proprietor & General Manager
ELNILEIN TRADING EST
Building : Building No. 220, Office No. 503
Street : Al Madina Al
Monawara Street
PO Box : 150976
Town : Amman 11115
Country : Jordan
Telephone : (962-6) 5655358
Facsimile : (962-6) 5655359
Mobile : (962-79) 5528810
Email : elnilein@go.com.jo / lubbad@elnilein.com
Please note that subject’s
previous address was, Al Abdali-Akarco Commercial Center, 10th
Floor, Office No. 6, Amman.
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Amman.
Name Position
·
Ahmed Mohamed Salem Lubbad Proprietor
& General Manager
·
Adnan Zaghloul Assistant
General Manager
Date of Establishment : 7th
December 1991
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 66965
Chamber Member No. : 230114
National ID No. :
1000017691
Invested Capital
: JD 10,000
Mr Ahmed Mohamed
Salem Lubbad is the sole
proprietor of the business.
Activities: Engaged in the import and distribution of foodstuffs,
readymade garments, haberdashery, electrical,
electronic and medical
laboratory equipment and pharmaceuticals.
Import
Countries: United Kingdom,
Taiwan, South Korea, Japan and Australia.
International Suppliers:
·
Niin Taiwan
·
Honga South Korea
·
C Jong South Korea
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 31/12/13: Year Ending
31/12/14:
Total Sales JD 1,000,000 JD 1,205,000
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
Abdali Branch
PO Box: 926607
Amman
Tel: (962-6) 5627271
Fax: (962-6) 5649305
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.62.14 |
|
|
1 |
Rs.94.79 |
|
Euro |
1 |
Rs.70.38 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ANK |
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 |
-- |
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.