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MIRA
INFORM REPORT
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Report No. : |
510927 |
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Report Date : |
24.05.2018 |
IDENTIFICATION DETAILS
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Name : |
NEW JAMIL LIMITED |
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Registered Office : |
59 Waltham
Park Road, Kingston 10, Saint Andrew |
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Country : |
Jamaica |
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Date of Incorporation : |
22.01.2009 |
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Legal Form : |
Limited |
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Line of Business : |
Subject is dedicated
to the manufacturing and wholesale of stone products. |
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No. of Employees : |
15 |
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 : |
Slow but Correct |
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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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Jamaica |
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 |
JAMAICA - ECONOMIC OVERVIEW
The Jamaican economy is heavily dependent on services, which accounts for more than 70% of GDP. The country continues to derive most of its foreign exchange from tourism, remittances, and bauxite/alumina. Earnings from remittances and tourism each account for about 15% of GDP, while bauxite/alumina exports have declined to less than 5% of GDP.
Jamaica's economy has grown on average less than 1% a year for the last three decades and many impediments remain to growth: a bloated public sector which crowds out spending on important projects; high crime and corruption; red-tape; and a high debt-to-GDP ratio. Jamaica, however, has made steady progress in reducing its debt-to-GDP ratio from a high of almost 150% in 2012 to about 115% in 2017, in close collaboration with the International Monetary Fund. The existing Stand By Agreement requires Jamaica to produce an annual primary surplus of 7%, in an attempt to reduce its debt burden below 60% by 2025.
Economic growth reached 1.6% in 2016. The HOLNESS administration faces the difficult prospect of maintaining fiscal discipline to make debt payments while simultaneously attacking a serious crime problem. High unemployment exacerbates the crime problem, including gang violence fueled by the drug trade.
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Source
: CIA |
STATUTORY INFORMATION
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Legal Name: |
NEW JAMIL LIMITED |
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Trade Name: |
NEW JAMIL LIMITED |
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ID: |
77524 (Local) |
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Date Created: |
2009 |
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Date Incorporated: |
22 Jan 2009 |
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Legal Address: |
59 Waltham Park
Road, Kingston 10, Saint Andrew, JAMAICA |
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Operative Address: |
94 Hagley Park
Road, Kingston 10, Jamaica, W.I., JAMAICA |
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Telephone: |
1.876.923.4980 |
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Fax: |
1.876.923.4963 |
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Legal Form: |
LIMITED |
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Email: |
info@newjamil.com |
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Registered in: |
JAMAICA |
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Website: |
www.newjamil.com/contact |
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Contact: |
NARGIS AHMAD – Secretary |
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Staff: |
15 |
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Activity: |
NAICS code 327991 - Cut Stone and Stone
Product Manufacturing |
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Banks: |
The company does not make its banking
data public |
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History: |
The company was founded in 2009. |
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PRINCIPAL ACTIVITY |
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New Jamil Limited
is dedicated to the manufacturing and wholesale of stone products. |
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Products/Services description: |
The company offers Ceramic Tiles, Mosaic
Tiles, Marble Tiles, Slate Tiles, Doors, Paint, Granite Countertops,
Porcelain Tiles, Bathroom Fixtures, Jacuzzis and Pedestals. |
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Brands: |
The company does not have any brands. |
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Sales are: |
Wholesale |
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Clients: |
MCB BANK LIMITED |
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Suppliers: |
Hema Impex RASHI GRANITE EXP. INDIA PVT., LTD. Industria Ceramica Fragnani Ltda. Hema Impex |
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Operations area: |
National and International |
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The company imports from |
INDIA BRAZIL NETHERLANDS |
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The company exports to |
PAKISTAN |
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The subject employs |
15 employees |
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Payments: |
Slow but Correct |
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LOCATION |
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Headquarters : |
94 Hagley Park
Road, Kingston 10, Jamaica, W.I. |
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Comments on Address: |
The address given in the order is the
company´s legal address. |
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Branches: |
No other branches were found. |
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Related Companies: |
No related companies were found. |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES |
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
The company does not disclose
information on shareholders. The following information has been provided by
private sources and could not be confirmed: The major holder of this company is: |
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Management: |
NARGIS AHMAD – Secretary SONIA ALAM - Owner |
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FINANCIAL INFORMATION |
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The company
does not make its financial statements public. Despite our
long search, we were not able to confirm financial figures for the subject. |
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LEGAL FILINGS |
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GOVERNMENT CONTRACTS |
New Jamil Limited Government Contractor in Kingston 11,
Jamaica dollars obligated (Latest year): $92,110
United States dollars latest fiscal year: 2015 Total dollars obligated (Since FY2007):
$92,109 United States dollars number of contracts (Since FY2007): 2 |
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CASES |
No records found. |
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SUMMARY |
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New Jamil Limited
is a small organization in the brick and stone wholesalers and manufacturers
industry located in Kingston, Jamaica. It opened its doors
in 2009 and now has approximately 15 employees. This company mainly
imports from India, Brazil and Netherlands. It operates nationally and
internationally. It is ACTIVE in business with no negative records. |
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RISK INFORMATION |
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DEBTS |
Controlled |
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PAYMENTS |
Slow but Correct |
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CASH FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW |
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NAME |
- |
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POSITION |
- |
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COMMENTS |
We called number 1.876.923.4980 several
times and received no answer. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 68.21 |
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1 |
INR 91.43 |
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Euro |
1 |
INR 80.24 |
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JMD |
1 |
INR 0.54 |
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 : |
TRU |
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
·
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.