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Report No. : |
344785 |
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Report Date : |
14.10.2015 |
IDENTIFICATION DETAILS
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Name : |
NATURAL EXTRACT COMPANY MANUFACTURING PLANT NUTRIENTS |
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Registered Office : |
Al Diyaa Commercial Complex, Building No. 100, Haroon Al Rasheed
Street, Block No. 3, Arjan, PO Box 213858, Amman 11121 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
26.05.2004 |
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Com. Reg. No.: |
113985 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the manufacture of organic and chemical fertilizers through
third party facilities. |
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No. of Employees : |
15 |
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.
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Source
: CIA |
Company Name :
NATURAL EXTRACT COMPANY MANUFACTURING PLANT
NUTRIENTS
Country of Origin :
Jordan
Legal Form :
Limited Liability Company
Registration Date :
26th May 2004
Commercial Registration Number :
113985
National ID Number :
200108819
Issued Capital :
JD 30,000
Paid up Capital :
JD 30,000
Total Workforce :
15
Activities :
Manufacturers of organic and chemical fertilizers
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Issa Abu Shariha, Financial Controller
NATURAL EXTRACT COMPANY MANUFACTURING PLANT NUTRIENTS
Registered &
Physical Address
Building : Al Diyaa
Commercial Complex, Building No. 100
Street : Haroon Al
Rasheed Street
Area : Block No. 3,
Arjan
PO Box : 213858
Town : Amman 11121
Country : Jordan
Telephone : (962-6) 5605008
Facsimile : (962-6)
5689777
Mobile : (962-79)
5618669
Email : info@necfert.com
/ sales@necfert.com
/ mohanned@necfert.com
Please note that the subject’s correct PO Box number is 213858 and not
21385.
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Amman.
Name Position
Mohamed Saleh Mohamed Al Biss Managing
Director
Ahmed Saleh Mohamed Al Biss Director
Yousef Al Biss Commercial
Manager
Issa Abu Shariha Financial
Controller
Date of Establishment : 26th
May 2004
Legal Form : Limited Liability
Company
Commercial Reg. No. : 113985
National ID No. : 200108819
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
Name of
Shareholder (s)
Mohamed Saleh Mohamed Al Biss
Ahmed Saleh Mohamed Al Biss
Activities: Engaged in the manufacture of organic and chemical fertilizers through
third party facilities.
Import Countries: Europe and the Far East
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
650,000 JD
710,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Issa Abu Shariha, Financial
Controller
Arab Jordan Investment Bank
Ibn Hani Street
Shmeisani
PO Box: 8797
Amman 11121
Tel: (962-6) 5607126 / 5607138
Fax: (962-6) 5681482 / 5690646
No complaints regarding subject’s payments have been reported.
According to local sources, subject enjoys a good reputation for the
quality of its products with nothing detrimental uncovered regarding the manner
in which operations are conducted. 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.65.02 |
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|
1 |
Rs.99.89 |
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Euro |
1 |
Rs.73.92 |
INFORMATION DETAILS
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Analysis Done by
: |
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.