MIRA
INFORM REPORT
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Report Date : |
18.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
DAOUD SALA0H
EDDINE ENETCHA & PARTNER CO |
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Registered Office : |
Wehdat, P O Box 590,
Amman 11511 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
19th April 1992 |
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Com. Reg. No.: |
29207, Amman |
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Legal Form : |
General Partnership |
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Line of Business : |
Engaged in the
wholesale and retail of automotive spare parts. |
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 : |
EUR 30,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : DAOUD SALAH EDDINE ENETCHA & PARTNER CO
Also Known As : ENETCHA FOR SPARE PARTS
Country of Origin : Jordan
Legal Form : General Partnership
Registration Date : 19th April 1992
Commercial Registration Number : 29207, Amman
Partners Capital : JD 5,000
Total Workforce : 2
Line of Business : Wholesalers and retailers of automotive spare parts.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
DAOUD SALAH EDDINE
ENETCHA & PARTNER CO
ALSO KNOWN AS
ENETCHA FOR SPARE
PARTS
ADDRESS
Registered & Physical Address
Location : Wehdat
PO Box : 590
Town : Amman 11511
Country : Jordan
Telephone : (962-6) 4747926
Facsimile : (962-6) 4747926
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
·
Daoud Salah
Eddine Enetcha Managing
Partner
·
Ahmed Abdul
Fattah Enetcha Partner
LEGAL FORM &
OWNERS
Date of Establishment : 19th
April 1992
Legal Form :
Sharikat Al Tadhamun
(General Partnership)
Commercial Reg. No. : 29207, Amman
Partners Capital : JD 5,000
Name of Partner (s)
Percentage
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Daoud Salah
Eddine Enetcha 50%
·
Ahmed Abdul
Fattah Enetcha 50%
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.
LINE OF BUSINESS
Operations : Engaged in the wholesale and retail of
automotive spare parts.
Import Countries
: Europe and Japan.
Operating Trend
: Steady
Subject has a
workforce of 2 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 106,350 JD 109,895
Total Assets JD 50,000 JD 50,000
Stock JD 21,270 JD 24,815
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Jordan Islamic
Bank
Shmeisani Branch
PO Box : 926225
Amman 11195
Tel : (962-6) 5677377
Fax : (962-6) 5666326
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of EUR 30,000:
Established in 1992,
subject is owned and managed by Mr Daoud Salah Eddine Enetcha and Mr Ahmed
Abdul Fattah Enetcha who are both 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: EUR 30,000
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%)