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Report No. : |
320751 |
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Report Date : |
08.05.2015 |
IDENTIFICATION DETAILS
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Name : |
YOUSEF AL AKKAD SONS CO |
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Registered Office : |
Hazaa Bedyan Abo Jamous Street, North Marka, PO Box 340677, Amman
11134 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
18.12.1999 |
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Com. Reg. No.: |
54483 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the import and distribution of fresh and frozen meat,
poultry and fish. |
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No. of Employees : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 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 : YOUSEF AL AKKAD SONS CO
Country of Origin :
Jordan
Legal Form :
Limited Liability Partnership
Registration Date :
18th December 1999
Commercial Registration Number : 54483, Amman
National ID Number :
200009570
Issued Capital :
JD 2,000,000
Paid up Capital :
JD 2,000,000
Total Workforce :
15
Activities :
Distributors of fresh and frozen meat, poultry and fish.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
YOUSEF AL AKKAD SONS CO
Registered &
Physical Address
Street : Hazaa Bedyan
Abo Jamous Street
Area : North Marka
PO Box :
340677
Town : Amman 11134
Country : Jordan
Telephone : (962-6) 4891995
/ 4872373
Facsimile : (962-6)
4871995
Mobile : (962-79)
6888395
Email : akkad@index.com.jo
Premises
Subject operates from a small suite of offices that are rented and
located in the Industrial Area of Amman.
Name Position
Amar Yousef Attalah Al Akkad Managing
Partner
Jamal Yousef Attalah Al Akkad Partner
Bassam Yousef Attalah Al Akkad Partner
Mohamed Yousef Attalah Al Akkad Partner
Attalah Yousef Al Akkad Partner
Mohiba Yousef Attalah Al Akkad Partner
Naelah Yousef Attalah Al Akkad Partner
Aliyah Yousef Attalah Al Akkad Partner
Ranya Yousef Attalah Al Akkad Partner
Ghaniya Yousef Attalah Al Akkad Partner
Fatina Yousef Attalah Al Akkad Partner
Basmah Yousef Attalah Al Akkad Partner
Nadiyah Yousef Attalah Al Akkad Partner
Yousef Bassam Yousef Al Akkad Commercial Manager
Date of Establishment : 18th
December 1999
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 54483, Amman
National ID No. : 200009570
Issued Capital : JD 2,000,000
Paid up Capital : JD 2,000,000
Name of Partners
Amar Yousef Attalah Al Akkad
Jamal Yousef Attalah Al Akkad
Bassam Yousef Attalah Al Akkad
Mohamed Yousef Attalah Al Akkad
Attalah Yousef Al Akkad
Mohiba Yousef Attalah Al Akkad
Naelah Yousef Attalah Al Akkad
Aliyah Yousef Attalah Al Akkad
Ranya Yousef Attalah Al Akkad
Ghaniya Yousef Attalah Al Akkad
Fatina Yousef Attalah Al Akkad
Basmah Yousef Attalah Al Akkad
Nadiyah Yousef Attalah Al Akkad
Activities: Engaged in the import and distribution of fresh and frozen meat,
poultry and fish.
Import Countries: India, Pakistan, New Zealand, Australia and
Brazil.
Operating Trend: Steady
Subject has a workforce of 15 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
2,400,000 JD
2,500,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Cairo Amman Bank
Shabsough Street
PO Box: 715
Amman
Tel: (962-6) 5639321 / 5623100 / 5623109
Fax: (962-6) 5639328
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.63.88 |
|
|
1 |
Rs.97.21 |
|
Euro |
1 |
Rs.72.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
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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 |
|
|
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 |
|
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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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
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.