MIRA INFORM REPORT
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Report Date : |
3rd May 2006 |
IDENTIFICATION DETAILS
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Name : |
LABIB & KHALED AL
SALOUS CO |
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Registered Office : |
Madaaba Street Al Yadodaha Area, 504 Amman
11831, Jordan |
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Date of Incorporation : |
1996 |
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Com. Reg. No.: |
90452,
Amman |
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Legal Form : |
Limited Liability
Partnership |
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Line of Business : |
Distributors of animal
fodder and equestrian supplies. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company Name |
LABIB & KHALED AL SALOUS CO |
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Also Known As |
ALASALAH FOR FEED & EQUESTRIAN |
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Country of Origin |
Jordan |
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Legal Form |
Limited Liability Partnership |
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Registration Date |
1996 |
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Commercial Registration Number |
90452, Amman |
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Issued Capital |
JD 10,000 |
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Paid up Capital |
JD 10,000 |
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Total Workforce |
10 |
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Line of Business |
Distributors of animal fodder and equestrian supplies. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
LABIB & KHALED AL SALOUS CO
ALSO KNOWN AS
ALASALAH FOR FEED & EQUESTRIAN SUPPLIES
ADDRESS
Registered & Physical Address
Street : Madaaba Street
Area : Al Yadodaha Area
PO Box : 504
Town : Amman 11831
Country : Jordan
Telephone : (962-6) 4121881
Facsimile : (962-6) 4121881
Email : alasalah@mail.com.jo
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
Labib Mohamed Al Salous Managing Partner
Khalid Mohamed Al Salous Partner
Thar Adeeb Sales Manager
LEGAL FORM & OWNERS
Date of Establishment : 1996
Legal Form : Sharikat Tadhamum Bill Asshum (Limited Liability
Partnership)
Commercial Reg. No. : 90452, Amman
Issued Capital : JD 10,000
Paid up Capital : JD 10,000
Name of Partner (s)
Labib Mohamed Al Salous
Khalid Mohamed Al Salous
Note to the Legal Form
A Limited Liability Partnership in Jordan is formed by at least one general partner and one limited partner. The total number of partners must not exceed twenty. The general partners assume unlimited personal liability for the debt of the partnership jointly and severally amongst themselves. The liability of the limited partners for the debt of the partnership is limited to their contributions to the capital of the partnership.
LINE OF BUSINESS
Operations : Engaged in the import and distribution
of animal fodder and equestrian supplies.
Import Countries : Europe and GCC countries.
Operating Trend : Steady
Subject has a workforce of 10 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 725,000 JD 930,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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$ 15,000,000:
Established in 1996, subject is involved in the import and
distribution of animal fodder and equestrian supplies.
According to local sources subject is making steady progress in the local business market and nothing detrimental has been reported regarding the manner in which payments are fulfilled. As such the business is considered to be a fair trade risk.
The above credit figure is higher than transactions previously seen and a measure of caution would be prudent.
Maximum suggested credit figure: US$ 150,000
RATING EXPLANATIONS
RATING
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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 |