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Report No. : |
322514 |
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Report Date : |
21.05.2015 |
IDENTIFICATION DETAILS
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Name : |
AL KARAM CARPET INDUSTRY |
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Registered Office : |
Al Qastal Industrial Area, Amman |
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Country : |
Jordan |
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Date of Incorporation : |
07.01.2010 |
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Com. Reg. No.: |
20562, Amman |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in the manufacture of carpets and moquettes |
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No. of Employee : |
35 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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.
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Source
: CIA |
Company Name :
AL KARAM CARPET INDUSTRY
Country of Origin :
Jordan
Legal Form :
Limited Liability Company
Registration Date :
7th January 2010
Commercial Registration Number :
20562, Amman
National ID Number :
200108146
Issued Capital :
JD 30,000
Paid up Capital :
JD 30,000
Total Workforce :
35
Activities :
Manufacturers of carpets and moquettes
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
AL KARAM CARPET
INDUSTRY
Location : Al Qastal
Industrial Area
Town : Amman
Country : Jordan
Telephone : (962-6) 4711674
Facsimile : (962-6)
4711646
Mobile : (962-79)
5287015
Email : amjad@alkaramcarpet.com
Subject operates from a medium sized suite of offices that are rented
and located in the Industrial Area of Amman.
Name Position
· Akram Naif Abdullah Khatab Managing
Director
· Amjad Naif
Abdullah Khatab Director
· Anwar Naif
Abdullah Khatab Director
· Ayman Naif
Abdullah Khatab Director
· Ahmed Naif
Abdullah Khatab Director
· Abdullah Naif
Abdullah Khatab Director
· Mohamed Naif
Abdullah Khatab Director
· Motaz Naif
Abdullah Khatab Director
Date of
Establishment : 7th
January 2010
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 20562, Amman
National ID No. : 200108146
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
· Akram Naif
Abdullah Khatab
· Amjad Naif Abdullah
Khatab
· Anwar Naif
Abdullah Khatab
· Ayman Naif
Abdullah Khatab
· Ahmed Naif
Abdullah Khatab
· Abdullah Naif
Abdullah Khatab
· Mohamed Naif
Abdullah Khatab
· Motaz Naif
Abdullah Khatab
Activities: Engaged in the manufacture of carpets and moquettes.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 35 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
1,400,000 JD
1,550,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Arab Bank Plc
Shmeisani Branch
PO Box: 950545
& 950544
Amman 11195
Tel: (962-6)
5607231 / 5607115
Fax: (962-6)
5606793 / 5606830
Email: secretariat@arabbank.com.jo
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.63.87 |
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|
1 |
Rs.98.89 |
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Euro |
1 |
Rs.70.73 |
INFORMATION DETAILS
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Analysis Done by
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SAN |
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Report Prepared
by : |
ASH |
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 |
-- |
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.