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Report No. : |
329465 |
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Report Date : |
03.07.2015 |
IDENTIFICATION DETAILS
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Name : |
AL ARIF EST FOR
SPRING TRADING |
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Registered Office : |
Belt Road, Abu Alanda,
P O Box: 510266, Amman 11151 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
14.05.2000 |
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Com. Reg. No.: |
118459, Amman |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and
Distribution of Springs, Rubber, Brushes, Pins, Centre Bolts and Heavy Truck
Spare Parts. |
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No. of Employees : |
3 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 and resulting government
debt. King ABDALLAH during the 2000s implemented significant economic reforms,
such as opening the trade regime and privatizing state-owned companies, that
attracted foreign investment and contributed to average annual economic growth
of 8% for 2004 through 2008. The global economic slowdown and regional turmoil
since, however, reduced the average annual growth rate to 2.6% for the
2010-2013 period and hurt export-oriented sectors, construction, and tourism.
Jordan's finances have 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. To diversify its energy
mix, Jordan is currently exploring nuclear power generation, exploitation of
abundant oil shale reserves and renewable technologies, as well as the import
of Israeli offshore gas. In August 2012, to correct budgetary and balance of
payments imbalances, Jordan entered into a $2.1 billion, three year
International Monetary Fund Stand-By Arrangement. In 2014, fiscal reform
measures enacted in the previous few years continued to boost government
revenues and reduced the budget deficit even as an influx of over 620,000
Syrian refugees since 2011 put additional pressure on expenditures.
|
Source
: CIA |
Company Name : AL ARIF
EST FOR SPRING TRADING
Country of Origin : Jordan
Legal Form : Sole
Proprietorship
Registration Date : 14th
May 2000
Commercial
Registration Number : 118459,
Amman
National ID Number : 100032923
Invested Capital :
JD 5,000
Total Workforce : 3
Activities :
Distribution of springs, rubber, brushes, pins, centre bolts and
heavy truck spare parts.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Yazan Sallah,
Sales Manager
AL ARIF EST FOR
SPRING TRADING
Street : Belt Road
Area : Abu Alanda
PO Box : 510266
Town : Amman 11151
Country : Jordan
Telephone : (962-6) 4165939
Facsimile : (962-6) 4165939
Mobile : (962-79) 5646652 / (962-78)
8042224
Email : alarif_est@hotmail.com / sallam_est@hotmail.com
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Amman
Name Position
·
Marouf
Hussain Arif Sallam Proprietor
& General Manager
·
Yazan
Sallah Sales
Manager
Date of Establishment : 14th
May 2000
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 118459,
Amman
National ID No. :
100032923
Invested Capital
: JD 5,000
Mr Marouf Hussain
Arif Sallam is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
springs, rubber, brushes, pins, centre bolts and heavy truck spare parts.
Import
Countries: India, Turkey
and Italy.
International
Suppliers:
·
B S
International India
·
Shandwela India
·
CGI India
·
SEM Turkey
·
AYD Turkey
·
HD Spare Part Turkey
·
Euro
Trading Italy
Operating Trend: Steady
Subject has a
workforce of 3 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 1,020,000 JD 1,100,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Shmeisani Branch
PO Box: 926225
Tel: (962-6) 5677377
Fax: (962-6) 5666326
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.63.57 |
|
|
1 |
Rs.99.20 |
|
Euro |
1 |
Rs.70.35 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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 |
-- |
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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.