|
|
|
MIRA INFORM REPORT
|
Report No. : |
494513 |
|
Report Date : |
06.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
PICASO PRINTING
PRESS |
|
|
|
|
Registered Office : |
Complex No. 161,
Prince Mohammad Street, P O Box: 240747, Amman 11124 |
|
|
|
|
Country : |
Jordan |
|
|
|
|
Financials (as on) : |
31.12.2017 |
|
|
|
|
Date of Incorporation : |
10.02.2004 |
|
|
|
|
Com. Reg. No.: |
148512 |
|
|
|
|
Legal Form : |
Sole
Proprietorship |
|
|
|
|
Line of Business : |
Subject is
engaged as operators of a printing press, including full-service digital and
offset printing. |
|
|
|
|
No. of Employees : |
15 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Jordan |
B1 |
B1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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.
|
Source
: CIA |
SUMMARY
Company Name : PICASO
PRINTING PRESS
Country of Origin : Jordan
Legal Form :
Sole Proprietorship
Registration Date : 10th
February 2004
Commercial
Registration Number : 148512
National ID Number : 100048698
Invested Capital : JD 30,000
Total Workforce :
15
Activities :
Operators of a printing press
Financial Condition : Fair
Payments :
No Complaints
Operating Trend : Steady
COMPANY
NAME
PICASO PRINTING
PRESS
ADDRESS
Registered & Physical
Address
Location : Complex No. 161
Street : Prince Mohammad Street
PO Box : 240747
Town : Amman 11124
Country : Jordan
Telephone : (962-6) 4887707 / 4627700
Facsimile : (962-6) 4623500 / 4625300
Mobile : (962-79) 6935353
Email : picasso.pp@gmail.com /
info@picassopp.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Amman.
KEY
PRINCIPALS
Name Nationality Position
·
Nour
Eddine Mohamed Mous Al Shawarah Jordanian Proprietor & General
Manager
LEGAL
FORM & OWNERS
Date of Establishment : 10th
February 2004
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 148512
National ID No. :
100048698
Invested Capital
: JD 30,000
Mr Nour Eddine
Mohamed Mous Al Shawarah is the sole proprietor of the business.
OPERATIONS
Activities: Engaged as operators of a printing press,
including full-service digital and offset printing.
Operating Trend: Steady
Subject has a
workforce of 15 employees.
FINANCIAL
DATA
Financial highlights
provided by local sources are given below:
Currency: Jordanian
Dinars (JD)
Year
Ending 31/12/16: Year Ending
31/12/17:
Total Sales JD 1,800,000 JD 2,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Bank of
Jordan Ltd
King Hussain Street
PO Box: 37
Amman
Tel: (962-6) 5630301
Fax: (962-6) 5638889
PAYMENT
HISTORY
No complaints regarding
subject’s payments have been reported.
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.05 |
|
|
1 |
INR 89.70 |
|
Euro |
1 |
INR 80.03 |
|
JOD |
1 |
INR 91.65 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
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
·
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.