MIRA
INFORM REPORT
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Report Date : |
03.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
SHAKEEB KHIRFAN
GROUP FOR TRADING, INDUSTRY & INVESTMENT |
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Registered Office : |
Shakeeb Centre, 3rd
Floor, Sharif Naser Bin Jamil Street, Shmeisani, P O Box 941902, Amman 11194 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
22nd March 1982 |
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Com. Reg. No.: |
11057, Amman |
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Legal Form : |
General Partnership |
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Line of Business : |
Engaged in the
import and distribution of general foodstuff products and beverages. |
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$ 500,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : SHAKEEB KHIRFAN GROUP FOR TRADING, INDUSTRY &
INVESTMENT
Country of Origin : Jordan
Legal Form : General Partnership
Registration Date : 22nd March 1982
Commercial Registration Number : 11057, Amman
Partners Capital : JD 2,000,000
Total Workforce : 120
Line of Business : Distributors of general foodstuff products and beverages.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
SHAKEEB KHIRFAN
GROUP FOR TRADING, INDUSTRY & INVESTMENT
ADDRESS
Registered & Physical Address
Building : Shakeeb Centre, 3rd
Floor
Street : Sharif Naser Bin Jamil Street
Area : Shmeisani
PO Box : 941902
Town : Amman 11194
Country : Jordan
Telephone : (962-6) 5679199 / 5680690
Facsimile : (962-6) 5678652
Email : viva@go.com.jo
Premises
Subject operates
from a small suite of offices that are owned and located in the Central
Business Area of Amman
Branch Office (s)
Location Description
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Ring Road Warehouse
premises
Amman
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Yarmouk Street Warehouse
premises
Amman
KEY PRINCIPALS
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Ghassan
Shakeeb Khirfan Managing
Partner
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Nader Shakeeb
Khirfan Partner
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Yahya Shakeeb
Khirfan Partner
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Bassam Shakeeb
Khirfan Partner
LEGAL FORM &
OWNERS
Date of Establishment : 22nd
March 1982
Legal Form :
Sharikat Al Tadhamun
(General Partnership)
Commercial Reg. No. : 11057, Amman
Partners Capital : JD 2,000,000
Name of Partner (s)
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Ghassan
Shakeeb Khirfan
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Nader Shakeeb
Khirfan
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Yahya Shakeeb
Khirfan
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Bassam Shakeeb
Khirfan
Note to the Legal Form
A General Partnership in Jordan may be formed by a minimum of two and a maximum of twenty natural persons. The partners assume unlimited personal liability for the debt of the partnership jointly and severally amongst themselves. Creditors may claim the debts from either the company as a separate legal entity or from the general partners. Each partner is entitled to take part in the management of the partnership, although the partnership agreement normally provides for its authorised representative and signatory.
There are no legal requirements concerning the amount of capital of a general partnership. The shares of each partner, presented in cash, kind or rights, must not be issued in the form of negotiable instruments, nor can they be transferred or assigned without the unanimous approval of the partners unless the memorandum specifically provides otherwise.
AFFILIATED COMPANIES
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United Sugar
& Rice Trading Company
Amman
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
general foodstuff products and beverages.
Import Countries
: Europe and GCC countries.
Operating Trend
: Steady
Subject has a
workforce of 120 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency :
Jordanian Dinars (JD)
Year
Ending 31/12/05: Year
Ending 31/12/06:
Total Revenue JD 12,000,000 JD 12,550,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Arab Bank Plc
King Faisal Street
PO Box : 8 & 68
Amman
Tel : (962-6) 5638161
Fax : (962-6) 5637082
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Cairo Amman
Bank
Shabsough Street
PO Box : 715
Amman
Tel : (962-6) 5639321 / 5623100 / 5623109
Fax : (962-6) 5639328
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Islamic
International Arab Bank Plc
PO Box 925802
Amman 11190
Tel: (962-6) 5694901
Fax: (962-6) 5694914
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000
Established in
1982, subject is owned and managed by members of the Khirfan family who are
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
company 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$ 500,000
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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)