MIRA
INFORM REPORT
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Report Date : |
13th
June, 2006. |
IDENTIFICATION
DETAILS
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Name : |
AL
SALAM PLASTIC AND CARTON FACTORY |
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Registered Office : |
King
Hussein Street, Rusiefa, PO Box: 391, Amman 11831, Jordan |
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Country : |
Jordan |
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Date of Incorporation : |
19.06.1991 |
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Com. Reg. No.: |
26004, Amman |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
The
company is engaged in the Manufacture of Plastic Products, Including Cartons,
Trays and Cups. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$
175,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
SUMMARY
Company Name : AL SALAM PLASTIC AND CARTON FACTORY
Country of Origin : Jordan
Legal Form : Sole Proprietorship
Registration Date : 19th June 1991
Commercial Registration Number : 26004, Amman
Membership Number : 6308
Invested Capital : JD 100,000
Total Workforce : 45
Line of Business : Manufacturers of plastic products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL SALAM
PLASTIC AND CARTON FACTORY
ADDRESS
Registered & Physical
Address
Street : King Hussein Street
Area : Rusiefa
PO Box : 391
Town : Amman 11831
Country : Jordan
Telephone : (962-6) 3743581
Facsimile : (962-6) 3743581
Email : salamplastic@wanadoo.jo
Premises
Subject
operates from a medium sized suite of offices and a factory that are owned and
located in the Central Business Area of Amman.
KEY PRINCIPALS
·
Ahmed
Khalid Ahmed Aysha Proprietor
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Mohamed
Ahmed Khalid Ahmed Aysha General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 19th June 1991
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 26004, Amman
Membership No. : 6308
Invested
Capital : JD 100,000
Mr Ahmed
Khalid Ahmed Aysha is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines Mouassasa Khassa as the business of an individual where liability for all debts is unlimited. The business is the entire responsibility of its proprietor, who is liable for all its debts to the extent of his entire wealth. There are no legal requirements concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations : Engaged in the manufacture of plastic
products, including cartons, trays and
cups.
Import
Countries :
Europe and GCC countries.
Operating
Trend : Steady
Subject
has a workforce of 45 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency
: Jordanian Dinars (JD)
Year
Ending 31/12/04 : Year
Ending 31/12/05 :
Total
Revenue JD 1,620,000 JD 1,785,000
Local
sources consider subject’s financial condition 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
Opinion
on the credit figure of US$ 150,000:
Established
in 1991, subject is owned and managed by Mr Ahmed Khalid Ahmed Aysha who is
well respected in the local business community.
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 and the above credit
figure is deemed to be within subject’s financial means.
Maximum
suggested credit figure: US$ 175,000
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |