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MIRA
INFORM REPORT
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Report No. : |
505002 |
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Report Date : |
26.04.2018 |
IDENTIFICATION DETAILS
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Name : |
WALID
HANI HADDAD & PARTNERS CO |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2017 |
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Date of Incorporation : |
03.01.1987 |
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Com. Reg. No.: |
17764 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject engaged in the import and distribution of
agricultural tools, hardware, tape, yarns, adhesives, jute bags, ropes
and plastic rolls |
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No. of Employees : |
12 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 and underemployment, budget and current account deficits, and government debt.
King ABDALLAH, during the first decade of the 2000s, implemented significant economic reforms, such as expanding 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 contributed to slower growth from 2010 to 2017 - with growth averaging 2.6% per year - and hurt export-oriented sectors, construction, and tourism. Since the onset of the civil war in Syria and resulting refugee crisis, one of Jordan’s most pressing socioeconomic challenges has been managing the influx of 650,000 UN-registered refugees, more than 80% of whom live in Jordan’s urban areas. Jordan’s own official census estimated the refugee number at 1.3 million as of early 2016.
Jordan is nearly completely dependent on imported energy—mostly natural gas—and energy consistently makes up 25-30 percent of Jordan’s imports. To diversify its energy mix, Jordan has secured several contracts for liquefied natural gas and 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 2016, Jordan and the IMF agreed to a $723 million Extended Fund Facility that aims to build on the three-year, $2.1 billion IMF program that ended in August 2015 with the goal of helping Jordan correct budgetary and balance of payments imbalances.
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Source
: CIA |
SUMMARY
Company
Name : WALID HANI
HADDAD & PARTNERS CO
Country
of Origin :
Jordan
Legal
Form :
Limited Liability Partnership
Registration
Date : 3rd
January 1987
Commercial
Registration Number : 17764,
Amman
Chamber
Membership Number : 7597
National
ID Number :
200019912
Issued
Capital :
JD 10,000
Paid
up Capital :
JD 10,000
Total
Workforce :
12
Activities :
Distributors of agricultural tools, hardware, tape, yarns, adhesives, jute
bags, ropes and plastic rolls
Financial
Condition :
Fair
Payments : No Complaints
Person
Interviewed :
Walid Hani Yousef Haddad, Managing Partner
COMPANY NAME
WALID HANI HADDAD & PARTNERS CO
ADDRESS
Registered
& Physical Address
Street : Al Mohajeriin Road
Area : Jebel Al Nazeef Area
PO
Box : 151265
Town : Amman 11115
Country : Jordan
Telephone : (962-6) 4742508
Facsimile : (962-6) 5539066 / 4730066
Mobile : (962-79) 5650804
Email : lamhaddad@yahoo.com
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Suburban Business Area of Amman.
KEY PRINCIPALS
Name Nationality ID Number Position
Walid
Hani Yousef Haddad Jordanian 9611019909 Managing Partner
Wael
Hani Yousef Haddad Jordanian 9651028866 Partner
LEGAL FORM & OWNERS
Date
of Establishment : 3rd January 1987
Legal
Form : Limited Liability Partnership
Commercial
Reg. No. : 17764, Amman
Chamber
Member No. : 7597
National ID No. : 200019912
Issued
Capital : JD 10,000
Paid
up Capital : JD 10,000
Name
of Partner (s) Percentage
Walid
Hani Yousef Haddad 50%
Wael
Hani Yousef Haddad 50%
OPERATIONS
Activities: Engaged in the import and
distribution of agricultural tools, hardware, tape, yarns, adhesives, jute
bags, ropes and plastic rolls.
Import
Countries:
United Arab Emirates, Europe and India
International
Suppliers:
ASMCO United Arab Emirates
Al
Hidal United Arab Emirates
Al
Mokrain United Arab
Emirates
Undak United Arab Emirates
Gulf Rope United Arab Emirates
UNIPACK United Arab Emirates
Nova United Arab
Emirates
Shree Exporter India
Shree
Balaji Export India
Techno
Tank Industries India
Subject
has a workforce of 12 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency:
Jordanian Dinars (JD)
Year
Ending 31/12/17:
Total
sales JD
3,900,000
Local
sources consider subject’s financial condition to be Fair.
The
above figures were provided by Walid Hani Yousef Haddad, Managing Partner
BANKERS
Jordan
National Bank
Jabal
Amman Branch
PO
Box: 1578
Amman
11118
Tel:
(962-6) 5642391
Fax:
(962-6) 5628809
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
Date
of transaction November
2006
Credit
amount 150,000
Amount
overdue 0
Payment
terms 60 days
Payment
Method Letters of
Credit
Paying
record No
Complaints
Currency US Dollars
GENERAL COMMENTS
The
subject and its shareholders/owners have been searched in the following
databases; Office of Foreign Assets Control (OFAC), United Nations Security
Council Sanctions, Australian Sanctions List, US Consolidated Sanctions List,
EU Financial Sanctions List and UK Financial Sanctions List and nothing adverse
could be found on the exact names listed within the report.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.7 |
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1 |
INR 93.14 |
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Euro |
1 |
INR 81.43 |
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1 |
INR |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
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Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.