MIRA INFORM REPORT

 

 

Report No. :

301252

Report Date :

06.01.2015

 

IDENTIFICATION DETAILS

 

Name :

JORDAN ROTOGRAVURE ESTABLISHMENT

 

 

Registered Office :

Al Shaikh Salameh Street, Abu Khurmah, Russaifa, Awajan Industrial Area, PO Box 950747, Amman 11195, Zarqa

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

09.12.1984

 

 

Com. Reg. No.:

2146

 

 

Legal Form :

General Partnership

 

 

Line of Business :

·         Engaged in the manufacture of flexible packaging materials.

·         Subject also provides printing, waxing, coating and laminating of packaging materials.

 

 

No. of Employee :

135

 

 

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 :

Good

Payment Behaviour :

Regular

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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                                                : JORDAN ROTOGRAVURE ESTABLISHMENT

Also Known As                                     : WALID AL KILANI AND PARTNERS INDUSTRIAL CO

Country of Origin                                   : Jordan

Legal Form                                           : General Partnership

Registration Date                                  : 9th December 1984

Commercial Registration Number                       : 2146, Zarqa

Membership Number                             : 262

National ID Number                               : 200011916

Partners Capital                                     : JD 3,000,000

Total Workforce                                     : 135

Activities                                               : Manufacture of flexible packaging materials.

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Person Interviewed                                : Ahmed Abu Al Rab, Finance Manager

 

 

 

COMPANY NAME

 

JORDAN ROTOGRAVURE ESTABLISHMENT

 

ALSO KNOWN AS: WALID AL KILANI AND PARTNERS INDUSTRIAL CO

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Al Shaikh Salameh Street

Area                 : Abu Khurmah, Russaifa, Awajan Industrial Area

PO Box                        : 950747, Amman 11195

Town                : Zarqa

Country             : Jordan

Telephone         : (962-5) 3652132 / 3651134

Facsimile          : (962-5) 3650620

Email                : info@jordan-roto.com

 

Premises

 

Subject operates from a large suite of offices and a factory that are rented and located in the Industrial Area of Zarqa.

 

 

KEY PRINCIPALS

 

Name                                                   Nationality                    Position

 

Walid Ahmed Zaid Al Kilani                    Jordanian                      Managing Partner

 

Riyad Walid Ahmed Zaid Al Kilani                      Jordanian                      Partner

 

Omar Al Amouri                                            -                            General Manager

 

Sofyan Al Kholi                                            -                            Sales Manager

 

Ahmed Abu Al Rab                                       -                            Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 9th December 1984

 

Legal Form      : General Partnership

 

Commercial Reg. No.   : 2146, Zarqa

 

Membership No.           : 262

 

National ID No. : 200011916

 

Partners Capital           : JD 3,000,000

 

Name of Partner (s)                                                             Percentage

 

Walid Ahmed Zaid Al Kilani                                                        90%

 

Riyad Walid Ahmed Zaid Al Kilani                                                          10%

 

 

AFFILIATED COMPANIES

 

Misr Rotogravure

3rd Industrial Zone

6th October City

Egypt

Tel: (20-2) 28333892

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of flexible packaging materials.

 

Subject also provides printing, waxing, coating and laminating of packaging materials.

 

Import Countries: Belgium and the United Kingdom

 

International Suppliers:

 

Concept Packaging                   Dubai

Gulf Packaging Industries          Saudi Arabia

Sulphochem                              Jordan

 

Operating Trend: Steady

 

Subject has a workforce of approximately 135 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 9,672,196                             JD 11,000,000

 

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

 

The above figures were provided by Mr Ahmed Abu Al Rab, Finance Manager

 

 

BANKERS

 

Arab Bank Plc

Shmeisani Branch

PO Box: 950545 & 950544

Amman 11195

Tel: (962-6) 5607231 / 5607115

Fax: (962-6) 5606793 / 5606830

 

Jordan National Bank

Jabal Amman Branch

PO Box: 1578

Amman 11118

Tel: (962-6) 5642391

Fax: (962-6) 5628809

 

Jordan Gulf Bank

Yacoub Sarouf Street

Shmeisani

PO Box: 9989

Amman 11191

Tel: (962-6) 5603931

Fax: (962-6) 5664110

 

 

PAYMENT HISTORY

 

Regular

 

Date of transaction                               September 2009                                   October 2013

Credit amount                                       240,000                                     253,000

Amount overdue                                    0                                                          0

Payment terms                                      90 days                                                            90 days

Payment Method                                   Letters of Credit                                                Letters of Credit

Paying record                                       No Complaints                                      No Complaints

Currency                                               Euros                                                   Euros

 

 

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.63.39

UK Pound

1

Rs.96.85

Euro

1

Rs.75.67

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TPT

 

 

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.