MIRA INFORM REPORT

 

 

Report No. :

308905

Report Date :

24.02.2015

 

IDENTIFICATION DETAILS

 

Name :

AL HADAF INTERNATIONAL CO FOR IMPORTING & INDUSTRY

 

 

Formerly Known As :

RAMI AL SAHEB & PARTNER

 

 

Registered Office :

Building No. 33 Abu Al Dardag Al Sahabi Street North Marka Industrial Area 921483 Amman 11192

 

 

Country :

Jordan

 

 

Date of Incorporation :

23.01.2003

 

 

Com. Reg. No.:

86882

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :
  • Subject is a leading supplier of consumer disposable and packaging products to food processors, hotels, caterers and related companies. It distributes sandwich paper, latex gloves, PE disposable gloves, disposable aprons, paper cook caps, plastic cups, plastic catering items, absorbent pads, doyleys, toothpicks, and multi disposable catering items as well as industrial stretch film.
  • The company also manufactures aluminium foil and PVC cling film.

 

 

No. of Employee :

100

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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. 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

 

SUMMARY

 

 

Company Name                                    : AL HADAF INTERNATIONAL CO FOR IMPORTING & INDUSTRY

Also Known As                                     : RAMI AL SAHEB & PARTNER

Country of Origin                                   : Jordan

Legal Form                                           : Limited Liability Partnership

Registration Date                                  : 23rd January 2003

Commercial Registration Number           : 86882

Chamber Membership Number               : 14204

National ID Number                               : 200102481

Issued Capital                                       : JD 100,000

Paid up Capital                                     : JD 100,000

Total Workforce                                     : 100

Activities                                               : Suppliers of consumer disposable and packaging products.

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Person Interviewed                                : Rami Jehad Abdul Samee Al Saheb, Managing Partner

 

 

COMPANY NAME

 

AL HADAF INTERNATIONAL CO FOR IMPORTING & INDUSTRY

 

 

ALSO KNOWN AS

 

RAMI AL SAHEB & PARTNER

 

 

ADDRESS

 

Registered & Physical Address

 

Building            : Building No. 33

Street               : Abu Al Dardag Al Sahabi Street

Area                 : North Marka Industrial Area

 

PO Box            : 921483

 

Town                : Amman 11192

Country             : Jordan

 

Telephone         : (962-6) 4887776 / 5516242

Facsimile          : (962-6) 4887797 / 5516242

Mobile              : (962-79) 5666635

Email                : info@alhadaf-int.com

 

Premises

 

Subject operates from a medium sized suite of offices, a factory and warehousing that are owned and located in the Industrial Area of Amman.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Rami Jehad Abdul Samee Al Saheb                                                  Managing Partner

 

·       Zaid Rami Jehad Abdul Samee Al Saheb                                           Partner

 

·       Mohamed Zuriqat                                                                             Sales Manager

 

·       Heyam Samrian                                                                                Accountant

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 23rd January 2003

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.   : 86882

 

Chamber Member No.  : 14204

 

National ID No.             : 200102481

 

Issued Capital              : JD 100,000

 

Paid up Capital            : JD 100,000

 

Name of Partners                                                                  Percentage

 

·       Rami Jehad Abdul Samee Al Saheb                                      85%

 

·       Zaid Rami Jehad Abdul Samee Al Saheb                               15%

 

 

AFFILIATED COMPANIES

 

·       Bustani & Al Saheb Trading Co

Amman

 

 

OPERATIONS

 

Activities: Subject is a leading supplier of consumer disposable and packaging products to food processors, hotels,caterers and related companies. It distributes sandwich paper, latex gloves, PE disposable gloves, disposable aprons, paper cook caps, plastic cups, plastic catering items, absorbent pads, doyleys, toothpicks, and multi disposable catering items as well as industrial stretch film.

 

The company also manufactures aluminium foil and PVC cling film.

 

Import Countries: China, France, Norway, Saudi Arabia, Turkey, Malaysia and South Korea.

 

International Suppliers:

 

·       Loften                                  China

·       Deng Shang Aluminium         China

·       Linpack                                France

·       National Plastic Co               Saudi Arabia

·       Nordic Paper                        Norway

·       Propack                               Turkey

·       Top Gloves                          Malaysia

·       Daek Wang                          South Korea

 

Brand Names: RZ, DOLPHINE and FORSTER

 

Operating Trend: Steady

 

Subject has a workforce of 100 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 9,720,000                             JD 10,000,000

 

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

 

The above figures were provided by Mr Rami Jehad Abdul Samee Al Saheb, Managing Partner

 

 

BANKERS

 

·       Arab Bank Plc

Shmeisani Branch

PO Box: 950545 & 950544

Amman 11195

Tel: (962-6) 5607231 / 5607115

Fax: (962-6) 5606793 / 5606830

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

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.62.18

UK Pound

1

Rs.95.71

Euro

1

Rs.70.76

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

ANK

 

 

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%)

 

 

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