MIRA INFORM REPORT

 

 

Report Date :

2nd November 2006

 

IDENTIFICATION DETAILS

 

Name :

ABDUL SALAM MOHAMED ABDUL SALAM HAJEER

 

 

Registered Office :

Prince Mohamed Street

183606, Amman 11118

Jordan

 

 

Country :

Jordan

 

 

Financials (as on) :

31/12/2005

 

 

Date of Incorporation :

13th May 1998

 

 

Com. Reg. No.:

73120, Amman

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Distributors of curtains and soft furnishings.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 150,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

SUMMARY

 

Company Name

ABDUL SALAM MOHAMED ABDUL SALAM HAJEER

Also Known As

PRESTIGE

Country of Origin

Jordan

Legal Form

Sole Proprietorship

Registration Date

13th May 1998

Commercial Registration Number

73120, Amman

Membership Number

105224

Invested Capital

JD 5,000

Total Workforce

10

Line of Business

Distributors of curtains and soft furnishings.

Financial Condition

Fair

Payments

Nothing detrimental uncovered

Operating Trend

Steady

 

 

 

 

COMPANY NAME

 

ABDUL SALAM MOHAMED ABDUL SALAM HAJEER

 

ALSO KNOWN AS : PRESTIGE

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Prince Mohamed Street

PO Box             : 183606

Town                 : Amman 11118

Country             : Jordan

Telephone         : (962-6) 4611132

Facsimile          : (962-6) 4611132

 

Premises

 

Subject operates from a small suite of offices and a warehouse that are owned and located in the Central Business Area of Amman.

 

 

KEY PRINCIPALS

 

Abdul Salam Mohamed Abdul Salam Hajeer                     Proprietor & General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 13th May 1998

 

Legal Form                  : Mouassasa Khassa (Sole Proprietorship)

 

Commercial Reg. No.  : 73120, Amman

 

Membership No.          : 105224

 

Invested Capital           : JD 5,000

 

Mr Abdul Salam Mohamed Abdul Salam Hajeer 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 import and distribution of curtains and soft furnishings.

 

Import Countries : Europe and the Far East.

 

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 680,000                                            JD 750,000

 

Local sources consider subject’s financial condition to be Fair.

 

 

BANKERS

 

Union Bank for Saving & Investment (UBSI)

Chamber of Commerce Building

Shmeisani

PO Box : 35104

Amman

Tel : (962-6) 5666148 / 5666170 / 5666171 / 5675558

Fax : (962-6) 5666149

Acc No. 01901243507

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

 

Opinion on the credit figure of US$ 150,000:

 

Established in 1998, subject is owned and managed by Mr Abdul Salam Mohamed Abdul Salam Hajeer who is well respected in the local business community.

 

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk and the above credit figure is considered to be within subject’s financial means.

 

Maximum suggested credit figure: US$ 150,000

 

RATING EXPLANATIONS

 

 

RATING

STATUS

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

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