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MIRA INFORM REPORT
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Report No. : |
490318 |
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Report Date : |
08.02.2018 |
IDENTIFICATION DETAILS
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Name : |
AL HADAF INTERNATIONAL CO FOR IMPORTING & INDUSTRY |
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Registered Office : |
Al Hadaf Building No. 33, Abu Al
Dardaa Al Sahabi Street, North Marka Industrial Area, PO Box: 921483,
Amman 11192 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2017 |
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Date of Incorporation : |
23.01.2003 |
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Com. Reg. No.: |
18491 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
· Subject is a leading supplier of consumer disposable and packaging products to food processors, hotels, caterers and related companies. It distributes sandwich paper, latex gloves, PE disposable gloves, disposable aprons, paper cook caps, plastic cups, plastic catering items, absorbent pads, doyleys, toothpicks, and multi disposable catering items as well as industrial stretch film · The company also manufactures aluminium foil and PVC cling film |
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No. of Employees : |
100 |
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 : |
Good |
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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 (30.06.2017) |
Current Rating (30.09.2017) |
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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 : AL HADAF INTERNATIONAL CO FOR IMPORTING & INDUSTRY
Also Known As : RAMI AL SAHEB & PARTNER
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 23rd January 2003
Commercial Registration Number : 18491
Chamber Membership Number : 14204
National ID Number : 200102481
VAT Number : 16635302
Issued Capital : JD 1,000,000
Paid up Capital : JD 1,000,000
Total Workforce : 100
Activities : Suppliers of consumer disposable and packaging products
Financial Condition : Fair
Payments : No complaints
Operating Trend : Steady
Person Interviewed : Falah Al Hefnawi, Export Manager
COMPANY
NAME
AL HADAF INTERNATIONAL CO FOR IMPORTING & INDUSTRY
ALSO KNOWN AS: RAMI AL SAHEB
& PARTNER
ADDRESS
Registered & Physical
Address
Building : Al Hadaf
Building No. 33
Street : Abu Al Dardaa Al Sahabi Street
Area : North Marka
Industrial Area
PO Box :
921483
Town : Amman 11192
Country : Jordan
Telephone : (962-6) 4887776
/ 5516242
Facsimile : (962-6)
4887797 / 5516242
Mobile : (962-79) 5666635 / 8500526
Email : info@alhadaf-int.com / rami@alhadaf-int.com / admin@rz.jo / export@alhadaf-int.com
Premises
Subject operates from a medium sized suite of offices, a factory and
warehousing that are owned and located in the Industrial Area of Amman.
KEY
PRINCIPALS
Name Position
·
Rami Jehad
Abdul Samee Al Saheb Managing
Director
·
Zaid Rami Jehad Abdul Samee Al Saheb Director
·
Mohamed Zuriqat Sales
Manager
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Ms Heyam Samrian Accountant
·
Fatima Tohama Administration
Executive
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Falah Al Hefnawi Export
Manager
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Abeer Al Jundi Export
Officer
LEGAL
FORM & OWNERS
Date of
Establishment : 23rd
January 2003
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 18491
Chamber Member No. : 14204
National ID No. : 200102481
VAT No. :
16635302
Issued Capital : JD 1,000,000
Paid up Capital : JD 1,000,000
Name of Shareholder (s) Percentage
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Rami Jehad
Abdul Samee Al Saheb 85%
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Zaid Rami Jehad Abdul Samee Al Saheb 15%
AFFILIATED
COMPANIES
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Bustani & Al Saheb
Trading Co
Amman
OPERATIONS
Activities: Subject is a leading supplier of consumer
disposable and packaging products to food processors, hotels, caterers and
related companies. It distributes sandwich paper, latex gloves, PE disposable
gloves, disposable aprons, paper cook caps, plastic cups, plastic catering
items, absorbent pads, doyleys, toothpicks, and multi disposable catering items
as well as industrial stretch film.
The company also
manufactures aluminium foil and PVC cling film.
Import Countries: China, France, Norway, Saudi Arabia, Turkey, Malaysia,
South Korea and the United States of America
International
Suppliers:
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Loften China
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Deng Shang Aluminium China
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Linpack France
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National Plastic Co Saudi Arabia
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Nordic Paper Norway
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Propack Turkey
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Top Gloves Malaysia
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Daek Wang South Korea
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Solo Cup United
States of America
Brand Names: RZ, DOLPHINE and FORSTER
Operating Trend: Steady
Subject has a workforce of 100 employees.
FINANCIAL
DATA
Financial highlights provided by local sources are given below:
Currency: Jordanian Dinars (JD)
Year Sales
Year Ending 31/12/14: JD
10,000,000
Year Ending 31/12/15: JD
10,425,000
Year Ending 31/12/16: JD
10,900,000
Year Ending 31/12/17: JD
11,350,000
The subject’s financial condition is deemed to be Fair.
BANKERS
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Arab Bank Plc
Shmeisani Branch
PO Box: 950545
& 950544
Amman 11195
Tel: (962-6)
5607231 / 5607115
Fax: (962-6)
5606793 / 5606830
PAYMENT
HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL
COMMENTS
During the course of this investigation the following sources were
consulted:
- Internal database
- Journals, directories, media
& web searches
- Local Registry office
- Interview with Falah Al Hefnawi, Export Manager
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 64.14 |
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1 |
INR 89.50 |
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Euro |
1 |
INR 79.43 |
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JOD |
1 |
INR 90.46 |
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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VIV |
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Report Prepared
by : |
SYL |
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
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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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.