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Report No. : |
343012 |
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Report Date : |
06.10.2015 |
IDENTIFICATION DETAILS
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Name : |
HEIRS OF SUBHI
MUKBEL COMPANY |
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Registered Office : |
Al Yamook Street, Building 110, Wadi Al Naser Area, P O Box: 6931, Amman 11118 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
02.05.1997 |
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Com. Reg. No.: |
46239,
Amman |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import
and distribution of edible oils, including, palm oil, corn oil, sun flower
oil, fat, soya beans and hummus. |
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No. of Employees : |
22 |
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 first decade of the 2000s, implemented
significant economic reforms, such as opening up foreign trade 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 : HEIRS OF
SUBHI MUKBEL COMPANY
Country of Origin : Jordan
Legal Form : Limited
Liability Company
Registration Date : 2nd
May 1997
Commercial
Registration Number : 46239, Amman
Chamber Membership
Number : 26448
National
ID Number : 2000024636
Issued Capital : JD
5,000
Paid up Capital : JD 5,000
Total Workforce :
22
Activities :
Distributors of edible oils.
Financial Condition : Fair
Payments : No Complaints
Operating Trend : Steady
HEIRS OF SUBHI
MUKBEL COMPANY
Street : Al Yamook
Street, Building 110
Area : Wadi
Al Naser Area
PO Box : 6931
Town : Amman
11118
Country : Jordan
Telephone : (962-6) 4910319
/ 4625955
Facsimile : (962-6) 4910318
Mobile : (962-79) 5577179
Email : khsm@batelco.jo
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Amman.
Name Position
·
Khalil Subhi Mukbel Managing
Director
·
Nedal Subhi Mukbel Director
·
Saleh Subhi Mukbel Director
·
Mofaq Subhi Mukbel Director
Date of Establishment : 2nd
May 1997
Legal Form :
Limited Liability Company
Commercial Reg. No. : 46239, Amman
Chamber Member No. : 26448
National
ID No. : 2000024636
Issued Capital : JD 5,000
Paid up Capital : JD 5,000
·
Khalil Subhi Mukbel 25%
·
Nedal Subhi Mukbel 25%
·
Saleh Subhi Mukbel 25%
·
Mofaq Subhi Mukbel 25%
Activities: Engaged in the
import and distribution of edible oils, including, palm oil, corn oil, sun
flower oil, fat,
soya beans and
hummus.
Import
Countries: India and Asia
Operating Trend: Steady
Subject has a
workforce of 22 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 10,650,000 JD 11,125,000
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.29 |
|
|
1 |
Rs.99.31 |
|
Euro |
1 |
Rs.73.39 |
INFORMATION DETAILS
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Analysis Done by
: |
HEE |
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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.