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MIRA INFORM REPORT
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Report No. : |
485786 |
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Report Date : |
17.01.2018 |
IDENTIFICATION DETAILS
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Name : |
MURILLO OVERSEAS LIMITED |
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Registered Office : |
Salem Centre, Suite 513 Al Rabia PO Box
950584 Amman 11195 |
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Country : |
Jordan |
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Date of Incorporation : |
06.11.2000 |
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Com. Reg. No.: |
1158 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Subject is engaged in the provision of business development and
marketing consulting services. |
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No. of Employees : |
1 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Branch of a foreign registered corporation |
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Payment Behaviour : |
Unknown |
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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 2016 - with growth averaging 2.8% 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 :
MURILLO OVERSEAS LIMITED
Country
of Origin :
United Kingdom
Legal
Form :
Branch of a Foreign Registered Corporation
Registration
Date : 6th
November 2000
Commercial
Registration Number : 1158
National
ID Number :
200018656
Total
Workforce :
1
Activities :
Providers of business development and marketing consulting services
Financial
Condition :
Undetermined
Payments :
Unknown
company
name and address
COMPANY
NAME:
MURILLO OVERSEAS LIMITED
ADDRESS
Registered
& Physical Address
Building : Salem Centre, Suite 513
Area :
Al Rabia
PO Box :
950584
Town : Amman 11195
Country : Jordan
Telephone : (962-6) 5861987 / 5519385
Facsimile :
(962-6) 5519386
Mobile :
(962-79) 5777511
Email :
info@murillopower.com
Premises
Subject
operates from a small suite of offices that are rented and located in the
Central Business Area of Amman.
KEY
PRINCIPALS
Name Position
Fouzi
K Sara General
Manager
LEGAL
FORM & OWNERS
Date
of Establishment : 6th November
2000
Legal
Form : Subject is the Jordan registered
branch of Murillo Overseas Limited, a Limited Liability Company incorporated in
the United Kingdom.
Murillo Overseas Limited in Jordan, operates
as a Branch of a Foreign Registered
Corporation
A Branch of a Foreign Registered
Corporation is not a legal entity in its own right.
Responsibility for payments lays in the hands
of the company where it is originally
registered. It is an extension of an existing
company abroad and does not require a
local partner or sponsor.
Under these circumstances, we strongly advise
that any international trade credit should
only be written under the name of the main
company where the subject holds its registered
office, in this case Murillo Overseas
Limited.
Commercial
Reg. No. : 1158
National
ID No. : 200018656
OPERATIONS
Activities: Engaged in the provision
of business development and marketing consulting services.
Subject’s
services include:
Market assessments
Developing local contacts for government projects
Developing local contacts for wholesale
distribution or partnership
Assistance with local regulations, requirements and
certification
Competitive bidding for government’s projects
Translation and localization of marketing materials
Installation, maintenance and after sales services
Distributor and end-user support
Subject
has a workforce of 1 employee.
FINANCIAL
DATA
Companies
registered in Jordan are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
Arab
Jordan Investment Bank
Ibn
Hani Street
Shmeisani
PO
Box: 8797
Amman
11121
Tel:
(962-6) 5607126 / 5607138
Fax:
(962-6) 5681482 / 5690646
PAYMENT
HISTORY
Unknown
GENERAL
COMMENTS
Please
note that we were unable to contact the subject directly during our
investigation.
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 63.76 |
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1 |
INR 87.91 |
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Euro |
1 |
INR 78.20 |
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JOD |
1 |
INR 90.15 |
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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NIY |
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Report Prepared
by : |
DNS |
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
·
Promoters
/ Management background
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Payment
record
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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.