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MIRA INFORM REPORT
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Report No. : |
508363 |
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Report Date : |
11.05.2018 |
IDENTIFICATION DETAILS
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Name : |
AL QAWAFEL INDUSTRIAL AGRICULTURAL CO |
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Registered Office : |
Al Qawafel Building, Azraq Road, Al Hallabat Area, PO Box 940455,
Amman 11194, Zarqa |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2017 |
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Date of Incorporation : |
20.01.2007 |
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Com. Reg. No.: |
256 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in the manufacture of compound chemicals,
fertilizers and pesticides. |
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No. of Employees : |
120 |
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 :
AL QAWAFEL INDUSTRIAL AGRICULTURAL CO
Country
of Origin :
Jordan
Legal
Form :
Limited Liability Company
Registration
Date : 20th
January 2007
Commercial
Registration Number : 256
Chamber
Membership Number : 13363
National
ID Number :
200009181
Issued
Capital :
JD 1,000,000
Paid
up Capital :
JD 1,000,000
Total
Workforce :
120
Activities :
Manufacturers of compound chemicals, fertilizers and pesticides.
Financial
Condition :
Fair
Payments : No Complaints
Operating
Trend :
Steady
Company
name and address
COMPANY
NAME: AL
QAWAFEL INDUSTRIAL AGRICULTURAL CO
ADDRESS
Registered
& Physical Address
Building : Al Qawafel Building
Street : Azraq Road
Area : Al Hallabat Area
PO
Box : 940455, Amman
11194
Town : Zarqa
Country : Jordan
Telephone : (962-5) 3826731 / 3938585 / (962-6) 4120941
Facsimile : (962-5) 3826732 / 3938584
Mobile : (962-79) 5526341 / 5333805 /
5525147 / 5528583 / (962-78) 8125548
Email : khaled@alqawafel.com
/ info@qawafel.com
/ ahmad@qawafel.com
Premises
Subject
operates from a medium sized suite of offices that are owned and located in the
Industrial Area of Zarqa.
KEY
PRINCIPALS
Name Nationality Position
Salah
Eddine Saleem Abdul Hameed Jordanian Chairman
Ahmed
Saleh Mohamed Al Bass Jordanian Managing Director
Mohamed
Saleh Mohamed Al Bass Jordanian Director
Nedal
Mohamed Ali Abdulrahim Jordanian Director
Khalid Hamed Khamis Al Turk Jordanian Director
Hesham
Sulaiman Fahimi Abdullatif Abu Hussain Egyptian Director
Ayman
Sami Abdulrahman Al Taweel Jordanian Director
Talat
Rabhi Hosni Dahmash Jordanian Director
Lameesh
Hamish Saleh Al Shahri Jordanian Director
Sofian
Saleh Mohamed Al Bass Jordanian Director
Tareq
Nael Abdulrahman Al Taweel Jordanian Director
Mohamed
Ali Yousef Al Kawas Jordanian Director
Saad
Mohamed Ali Yousef Al Kawas Jordanian Director
Laila
Mohmoud Shaaban Abu Amarah Jordanian Director
Mahmoud
Saleh Mohamed Al Bass Jordanian Director
Yousef
Jawdat Naif Hamd Jordanian Director
Abdulhafez
Rabhi Shamrokh Jordanian Director
Atta
Allah Abdo Rabo Ahmed Al Wahah Jordanian Director
Anas
Abdul Majeed Salamah Al Farajeen Jordanian Director
Omran
Hassan Abdul Qader Abu Hamdah Jordanian Director
Tamam
Hamdi Al Sayed Abu Sulaiman Abu Musbeh Palestinian Director
Hassan
Abdullatif Hassan Al Mansi Palestinian Director
Hussam
Abdullatif Hassan Al Mansi Palestinian Director
Mohamed
Abdullatif Hassan Al Mansi Palestinian Director
Aroua
Abdullatif Hassan Al Mansi Palestinian Director
Ala Abdullatif Hassan Al Mansi Palestinian Director
Tasneem
Abdullatif Hassan Al Mansi Palestinian Director
LEGAL
FORM & OWNERS
Date
of Establishment : 20th January
2007
Legal
Form : Limited Liability Company
Commercial
Reg. No. : 256
Chamber
Member No. : 13363
National
ID No. : 200009181
Issued
Capital : JD 1,000,000
Paid
up Capital : JD 1,000,000
Name
of Shareholder (s) Percentage
Ahmed
Saleh Mohamed Al Bass 20.00%
Salah
Eddine Saleem Abdul Hameed 13.50%
Hesham
Sulaiman Fahimi Abdullatif Abu Hussain 7.50%
Hassan
Abdullatif Hassan Al Mansi 4.86%
Hussam Abdullatif Hassan Al Mansi 4.86%
Mohamed
Abdullatif Hassan Al Mansi 4.86%
Ayman
Sami Abdulrahman Al Taweel 4.50%
Mohamed
Saleh Mohamed Al Bass 4.00%
Tamam
Hamdi Al Sayed Abu Sulaiman Abu Musbeh 3.13%
Talat
Rabhi Hosni Dahmash 3.10%
Lameesh
Hamish Saleh Al Shahri 3.00%
Sofian
Saleh Mohamed Al Bass 2.50%
Tareq
Nael Abdulrahman Al Taweel 2.50%
Mohamed
Ali Yousef Al Kawas 2.50%
Aroua Abdullatif Hassan Al Mansi 2.43%
Ala Abdullatif Hassan Al Mansi 2.43%
Tasneem Abdullatif Hassan Al Mansi 2.43%
Saad
Mohamed Ali Yousef Al Kawas 2.00%
Khalid Hamed Khamis Al Turk 1.70%
Omran
Hassan Abdul Qader Abu Hamdah 1.20%
Laila
Mohmoud Shaaban Abu Amarah 1.00%
Mahmoud
Saleh Mohamed Al Bass 1.00%
Yousef
Jawdat Naif Hamd 1.00%
Abdulhafez
Rabhi Shamrokh 1.00%
Nedal
Mohamed Ali Abdulrahim 1.00%
Atta Allah Abdo Rabo Ahmed Al Wahah 1.00%
Anas
Abdul Majeed Salamah Al Farajeen 1.00%
OPERATIONS
Activities: Engaged in the manufacture
of compound chemicals, fertilizers and pesticides.
Subject is ISO 9001 accredited.
Operating
Trend:
Steady
Subject
has a workforce of 120 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
4,900,000 JD
5,285,000
Local
sources consider subject’s financial condition to be Fair.
The
above financial figures are based on estimations by our local sources.
BANKERS
Jordan
Islamic Bank
Shmeisani
Branch
PO
Box: 926225
Amman
11195
Tel:
(962-6) 5677377
Fax:
(962-6) 5666326
Arab
Bank Plc
King
Hussein Street
PO
Box: 145
Zarqa
Tel:
(962-5) 3983381
Fax:
(962-5) 3994522
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 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 67.37 |
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1 |
INR 91.38 |
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Euro |
1 |
INR 79.89 |
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JOD |
1 |
INR 94.93 |
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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DIV |
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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
·
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.