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Report No. : |
328461 |
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Report Date : |
25.06.2015 |
IDENTIFICATION DETAILS
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Name : |
SAFEETA AGENCIES AND MARKETING COMPANY |
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Registered Office : |
Prince Hassan Street, Kharibyat Al Souq, PO Box 39276, Amman 11104 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
21.05.2009 |
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Com. Reg. No.: |
18793 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the import and distribution of general foodstuffs,
including tea, rice and spices. |
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No. of Employees : |
2 |
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.
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.
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Source
: CIA |
Company Name :
SAFEETA AGENCIES AND MARKETING COMPANY
Country of Origin :
Jordan
Legal Form :
Limited Liability Partnership
Registration Date :
21st May 2009
Commercial Registration Number :
18793, Amman
Chamber Membership Number :
149069
National ID Number :
200103373
Issued Capital :
JD 7,000
Paid up Capital :
JD 7,000
Total Workforce : 2
Activities :
Distributors of general foodstuffs.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Moayed Abdul Hadi Mostafa Doukh, Partner
SAFEETA AGENCIES AND MARKETING COMPANY
Registered &
Physical Address
Street : Prince
Hassan Street
Area : Kharibyat Al
Souq
PO Box : 39276
Town : Amman 11104
Country : Jordan
Telephone : (962-6) 4027576
Facsimile :
(962-6) 4027577
Mobile : (962-79) 5530022
Email : muayad_doukh@yahoo.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Amman.
Name Position
Ziyad Abdul Hadi Mostafa Doukh Managing
Partner
Moayed Abdul Hadi Mostafa Doukh Partner
Ayad Abdul Hadi Mostafa Doukh Partner
Date of Establishment : 21st
May 2009
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 18793, Amman
Chamber Member No. : 149069
National ID No. : 200103373
Issued Capital : JD 7,000
Paid up Capital : JD 7,000
Name of Partner
(s) Percentage
Ziyad Abdul Hadi Mostafa Doukh 23.81%
Moayed Abdul Hadi Mostafa Doukh 52.39%
Ayad Abdul Hadi Mostafa Doukh 23.80%
Activities: Engaged in the import and distribution of general foodstuffs, including
tea, rice and spices.
Import Countries: Pakistan, India
and Sri Lanka
International
Suppliers:
Indian Trade India
Uniworld Tea Sri Lanka
Salman Group Pakistan
Operating Trend: Steady
Subject has a workforce of 2 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
1,830,000 JD
2,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Moayed Abdul Hadi Mostafa Doukh,
Partner
Jordan National Bank
Jabal Amman Branch
PO Box: 1578
Amman 11118
Tel: (962-6) 5642391
Fax: (962-6) 5628809
Jordan Ahli Bank
Souk Branch
Madaba Street
PO Box: 656
Amman 11621
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.66 |
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1 |
Rs.100.50 |
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Euro |
1 |
Rs.71.31 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
TPT |
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.