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Report No. : |
306410 |
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Report Date : |
10.02.2015 |
IDENTIFICATION DETAILS
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Name : |
JORDAN SWEDEN MEDICAL & STERILIZATION CO LTD |
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Registered Office : |
Villa No. 69, Saeed Al Mufti Street, Sweifieh Area, 851831, Amman 11185 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
01.04.1996 |
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Com. Reg. No.: |
4395 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the manufacture of drugs, pharmaceutical preparations, herbal and health aid supplements. |
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No of Employees : |
220 |
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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 : JORDAN SWEDEN MEDICAL & STERILIZATION CO LTD
Trading As : JOSWE MEDICAL
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 1st April 1996
Commercial Registration Number : 4395, Amman
Membership Number : 10562
National ID Number : 200005344
Issued Capital : JD 7,000,000
Paid up Capital : JD 7,000,000
Total Workforce : 220
Activities : Manufacture of drugs, pharmaceutical preparations, herbal and health
aid supplements
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ahmed Qatanani, Finance Manager
COMPANY NAME: JORDAN
SWEDEN MEDICAL & STERILIZATION CO LTD
TRADING AS: JOSWE MEDICAL
Building :
Villa No. 69
Street : Saeed Al Mufti Street
Area : Sweifieh Area
PO Box : 851831
Town : Amman 11185
Country : Jordan
Telephone : (962-6) 5859765 / 5816053
Facsimile : (962-6) 5814526
Email : joswe@go.com.jo
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Amman.
Branch Office (s)
Location Description
·
Naour Area Factory
premises
Amman
Tel:
(962-6) 5728327 / 5812748
Fax:
(962-6) 5728326
Name Position
·
Mohamed Ali Mohamed
Shaheen Managing
Director
·
Dr Fouzi
Mohamed Abdulrahim Al Louzi Director
·
Khedir Nasri Al Tarazi Director
·
Ahmed Qatanani Finance
Manager
·
Mohamed Magdalawi Commercial
Manager
·
Rolla Mohamed Ali Shaheen Factory
Manager
·
Amjad Al Shamali Production
Manager
·
Dr Asaad Ali Mohamed
Shaheen Technical
Manager
·
Rawan Abu Zaniat Purchasing
Manager
Date of
Establishment : 1st
April 1996
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 4395, Amman
Membership No. : 10562
National ID No. : 200005344
Issued Capital : JD 7,000,000
Paid up Capital : JD 7,000,000
·
Mohamed Ali Mohamed
Shaheen 62.9%
·
Dr Fouzi
Mohamed Abdulrahim Al Louzi 13.2%
·
Raedah Mohamed Ali
Shaheen 11.6%
·
Khedir Nasri Al Tarazi 5.2%
·
Ahmed Ali Mohamed Shaheen 2.4%
·
Rolla Mohamed Ali Shaheen 1.8%
·
Ali Mohamed Ali Shaheen 1.4%
·
Dr Asaad Ali Mohamed
Shaheen 0.3%
·
Mohamed Ali Shaheen 0.2%
·
Muyaser Jerais Khalil Al
Qous 0.2%
·
Anam Ibrahim Jebran Matar 0.2%
·
Mari Nasri Qabie Al
Tarazi 0.2%
·
Maha Nasri Qabie Al
Tarazi 0.2%
·
Susan Mohamed Al
Masharawi 0.1%
·
Aroua Mohamed Ali Shaheen 0.1%
·
Arabian African Co (AFRAB)
Lagos
Nigeria
Activities: Engaged in the manufacture of drugs, pharmaceutical preparations,
herbal and health aid supplements.
Subject has ISO 9001 as well as GMP
certificates.
Import Countries: Europe and the United States of America
Export Countries: Saudi Arabia, Libya,
Sudan, Yemen, Lebanon, Mauritania, Iraq, Qatar, Oman, Syria, Bahrain,
Kuwait, Congo DC, Nigeria and Austria
Operating Trend: Steady
Subject has a workforce of approximately 220 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
11,180,000 JD
11,635,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Export & Finance Bank
PO Box: 941283
Amman
11194
Tel: (962-6)
5100200
Fax:
(962-6) 5695942
No complaints regarding subject’s payments have been reported.
Credit amount 150,000 150,000
Amount overdue 0 0
Payment terms 60
days 60 days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency US
Dollars US
Dollars
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. 62.14 |
|
|
1 |
Rs. 94.78 |
|
Euro |
1 |
Rs. 70.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
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Report Prepared
by : |
DPT |
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.