|
Report No. : |
302318 |
|
Report Date : |
10.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
Omar Albasser Alkhselat Street, Al Muqablain 851498 Amman 11185 |
|
|
|
|
Country : |
Jordan |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
28.05.1997 |
|
|
|
|
Com. Reg. No.: |
6197 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Engaged in the manufacture of PVC compounds, sheets, pipes and granules as well as cling film wrap. |
|
|
|
|
No. of Employee : |
58 |
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 |
|
Maximum Credit Limit : |
US$ 150,000 |
|
|
|
|
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 – 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 $2.1 billion, multiple year International Monetary Fund Stand-By Arrangement. Jordan's financial sector has been relatively isolated from the international financial crisis because of its limited exposure to overseas capital markets. In 2013, Jordan depended heavily on foreign assistance to finance the budget deficit, as the influx of about 600,000 Syrian refugees put additional pressure on expenditures.
|
Source
: CIA |
Company Name : MEDITERRANEAN ADVANCED TECHNICAL INDUSTRIES COMPANY LTD
Country of Origin : Jordan
Legal Form : Limited Liability Company
Start Date : 28th May 1997
Registration Date : 5th June 2000
Commercial Registration Number : 6197, Amman
Chamber Membership Number : 14099
National ID Number : 200024771
Issued Capital : JD 300,000
Paid up Capital : JD 300,000
Total Workforce : 58
Activities : Manufacturers of PVC compounds, sheets, pipes and granules.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
MEDITERRANEAN
ADVANCED TECHNICAL INDUSTRIES COMPANY LTD
Street : Omar Albasser Alkhselat Street
Area : Al Muqablain
PO Box : 851498
Town : Amman 11185
Country : Jordan
Telephone : (962-6) 4200371 / 4200572
Facsimile : (962-6) 4200184
Email : contact@medpak.com.jo
Subject operates from
a medium sized suite of offices that are owned and located in the Central
Business Area of Amman.
Branch Office
(s)
Location Description
·
King
Abdullah II Industrial Estate Owned
factory premises
Sahab
Tel: (962-6) 4027682
Fax: (962-6) 4027683
Name Position
·
Rafic
Mahmoud Abu Dahab Managing
Director
·
Mamoun
Rafic Mahmoud Abu Dahab Director
·
Mohannad
Rafic Mahmoud Abu Dahab Director
·
Motasim
Rafic Mahmoud Abu Dahab Director
·
Amin Rafic
Mahmoud Abu Dahab Director
·
Noor
Eddin Belbeisi Administration
Manager
·
Zayad Hadi Finance
Manager
·
Radwan Magdoub Factory
Manager
Date of Establishment : 28th
May 1997, however subject was registered on 5th June 2000
Legal Form :
Limited Liability Company
Commercial Reg. No. : 6197, Amman
Chamber Member No. : 14099
National ID No. :
200024771
Issued Capital : JD 300,000
Paid up Capital : JD 300,000
·
Rafic
Mahmoud Abu Dahab 60%
·
Mamoun
Rafic Mahmoud Abu Dahab 10%
·
Mohannad
Rafic Mahmoud Abu Dahab 10%
·
Motasim
Rafic Mahmoud Abu Dahab 10%
·
Amin
Rafic Mahmoud Abu Dahab 10%
Activities: Engaged in the manufacture of PVC
compounds, sheets, pipes and granules as well as cling film wrap.
Subject’s product range
includes:
-
PVC & PVC/PVDC Rigid Film for Pharmaceutical Blister Packaging
-
Aluminium Foil for Pharmaceutical Blister Packaging
- General Purpose PVC Film
- PVC Cling Film in Jumbo Rolls
-
PVC Cling Film for Household & Catering
-
PVC/PE film for suppositories
-
Alu-Alu cold forming foil
Import
Countries: Saudi Arabia, Qatar,
France and Germany
International
Suppliers:
·
Qapco Qatar
·
Petro
Rabigh Saudi Arabia
·
Sabic Saudi Arabia
Export
Countries: Saudi Arabia,
Syria, Morocco, Egypt and Lebanon.
Operating Trend: Steady
Subject has a
workforce of 58 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 3,450,000 JD 3,800,000
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
Shmeisani
Amman
Tel: (962-6) 5694250
Fax: (962-6) 5692062
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
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
|
1 |
Rs.94.16 |
|
Euro |
1 |
Rs.73.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.