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Report No. : |
346979 |
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Report Date : |
30.10.2015 |
IDENTIFICATION DETAILS
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Name : |
ABU SHAKRA TRADING CO LTD |
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|
|
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Registered Office : |
Al Bayer Building, Jandawil Street, Bayader Wadi Seer, Abdoun, PO Box
6971, 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 : |
1960 |
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Com. Reg. No.: |
5077 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the import and distribution of cosmetics, beauty products,
perfumes, watches, crystal and other giftware items. |
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|
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No. of Employees : |
135 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Jordan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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 :
ABU SHAKRA TRADING CO LTD
Country of Origin : Jordan
Legal Form :
Limited Liability Partnership
Start Date :
1960
Commercial Registration Number :
5077
National ID Number :
20004981
Issued Capital :
JD 150,000
Paid up Capital :
JD 150,000
Total Workforce : 135
Activities :
Distributors of cosmetics, beauty products, perfumes, watches, crystal
and
other giftware items
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
ABU SHAKRA TRADING CO LTD
Registered &
Physical Address
Building :
Al Bayer Building
Street : Jandawil
Street
Area : Bayader Wadi
Seer, Abdoun
PO Box : 6971
Town : Amman 11118
Country : Jordan
Telephone : (962-6) 5817173
/ 5818173
Facsimile : (962-6)
5519009 / 5824003
Mobile : (962-79)
5544220
Email : gm.off@abushakra.com
/ abushakra@net.com.jo
Premises
Subject operates from a medium sized suite of offices and a warehouse that
are rented and located in the Central Business Area of Amman.
Branch Office (s)
Location Description
Garden Street Rented
showroom premises
Amman
Tel: (962-6) 5516603
Shmeisani Rented
showroom premises
Amman
Tel: (962-6) 5697100
Salam Complex Rented
showroom premises
Amman
Tel: (962-6) 5853359
Amman Mall Rented
showroom premises
Amman
Tel: (962-6) 5520984
3rd Circle Rented
showroom premises
Amman
Tel: (962-6) 4659030
Housing Bank Complex Rented
showroom premises
Jabal Hussain
Amman
Tel: (962-6) 5606130
Sawifiya Rented
showroom premises
Amman
Tel: (962-6) 5865625
Zarqa Rented
showroom premises
Tel: (962-5) 996955
Subject also operates branches in Cairo and Alexandria, as well as the
West Bank.
Name Position
Raed Abdul Hamid Subhi Abu Shakra Managing
Partner
Rami Abdul Hamid Subhi Abu Shakra Partner
Magid Al Qubas Finance
Manager
Dina Al Awad Human
Resources Manager
Burham Qassem Sales
Manager
Date of Establishment : 1960
History : Subject began in
1960 as a Sole Proprietorship. However on 30th October 1997 it re-
registered as a Limited Liability Partnership.
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 5077
National ID No. : 20004981
Issued Capital : JD 150,000
Paid up Capital : JD 150,000
Name of Partners Percentage
Raed Abdul Hamid Subhi Abu Shakra 50%
Rami Abdul Hamid Subhi Abu Shakra 50%
A H Abu Shakra Factory for Perfumes & Co
PO Box : 6971
Amman 11118
Tel: (962-6) 4163000
Fax: (962-6) 5824003
Al Rajd Co
PO Box : 6971
Amman 11118
Al Kansa Co
PO Box : 6971
Amman 11118
Activities: Engaged in the import and distribution of cosmetics, beauty products,
perfumes, watches, crystal and other giftware items.
Import Countries: France, Italy, Switzerland and the United Kingdom.
International Agencies :
Cartier
Chanel
Christian Dior
Boucheron
Paco
Rabanne
Max Factor
International Suppliers :
Caran d’Ache Switzerland
Carolina Herrera Spain
Lladro Spain
Magorica Spain
Mirroja Italy
Operating Trend: Steady
Subject has a workforce of 135 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
10,600,000 JD
10,750,000
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
King Faisal Street
PO Box: 8 & 68
Amman
Tel: (962-6) 5638161
Fax: (962-6) 5637082
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.65.15 |
|
|
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.71.25 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
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 |
|
|
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.