MIRA INFORM REPORT

 

 

Report No. :

326493

Report Date :

19.06.2015

 

IDENTIFICATION DETAILS

 

Name :

BUSINESS LAND INTERNATIONAL TRADING CO

 

 

Registered Office :

Office No. 209, Building No. 137, Wasfi Ali Tal Street, Jabal Al Husein, PO Box 923253, Amman 11192

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

19.01.2000

 

 

Com. Reg. No.:

54718

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Engaged in the import and distribution of general foodstuffs, gas lighters, batteries and blankets.

 

 

No. of Employees :

5

 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 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

 

SUMMARY

 

Company Name                                                : BUSINESS LAND INTERNATIONAL TRADING CO

Also Known As                                     : MOHAMED TAHER MUSA & AMER OTHMAN LAFI

Country of Origin                                   : Jordan

Legal Form                                           : Limited Liability Partnership

Registration Date                                  : 19th January 2000

Commercial Registration Number                       : 54718, Amman

National ID Number                               : 200013049

Issued Capital                                       : JD 5,000

Paid up Capital                                     : JD 5,000

Total Workforce                                     : 5

Activities                                               : Distributors of general foodstuffs, gas lighters, batteries and blankets.

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                                : Steady

Person Interviewed                                : Mohamed Taher Musa , Managing Partner

COMPANY NAME

 

BUSINESS LAND INTERNATIONAL TRADING CO

 

 

ALSO KNOWN AS

 

MOHAMED TAHER MUSA & AMER OTHMAN LAFI

 

 

ADDRESS

 

Registered & Physical Address

 

Building                        : Office No. 209, Building No. 137

Street               : Wasfi Ali Tal Street

Area                 : Jabal Al Husein

PO Box                        : 923253

Town                : Amman 11192

Country             : Jordan

Telephone         : (962-6) 5522060 / 5660712

Facsimile          : (962-6) 5522064 / 5660713

Mobile              : (962-79) 651659

Email                : bizlandjo@gmail.com

 

Premises

 

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Amman.

 

 

KEY PRINCIPALS

 

Name                                                                                       Position

 

Mohamed Taher Musa                                                               Managing Partner

 

Amer Othman Lafi                                                                     Partner

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 19th January 2000

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.   : 54718, Amman

 

National ID No. : 200013049

 

Issued Capital              : JD 5,000

 

Paid up Capital            : JD 5,000

 

Name of Partners                                                    Percentage

 

Mohamed Taher Musa                                                   50%

 

Amer Othman Lafi                                                         50%

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of general foodstuffs, gas lighters, batteries and blankets.

 

Import Countries: India, China and Pakistan.

 

International Suppliers:

 

Bhairya International                              India

Junan Yujia Peanuts Food Co Ltd                      China

A.M International                                               Pakistan

 

Operating Trend: Steady

 

Subject has a workforce of 5 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 1,680,000                             JD 1,835,000

 

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

 

The above figures were provided by Mr Mohamed Taher Musa, Managing Partner

 

 

BANKERS

 

Arab Jordan Investment Bank

Ibn Hani Street

Shmeisani

PO Box: 8797

Amman 11121

Tel: (962-6) 5607126 / 5607138

Fax: (962-6) 5681482 / 5690646

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

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.63.85

UK Pound

1

Rs.100.99

Euro

1

Rs.72.45

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

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.