MIRA
INFORM REPORT
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Report Date : |
30.08.2007 |
IDENTIFICATION DETAILS
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Name : |
SALAH D SHEHADEH
TRADING & SONS CO |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1978 |
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Com. Reg. No.: |
62954, |
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Legal Form : |
General Partnership |
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Line of Business : |
Engaged in the import
and distribution of ceramic products, tiles, granite and sanitary ware
products. |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : SALAH D SHEHADEH TRADING & SONS CO
Country of Origin :
Legal Form : General Partnership
Date Started : 1978
Registration Date : 14th May 1991
Commercial Registration Number :
62954,
Partners Capital : JD 5,000
Total Workforce : 30
Line of Business : Distributors of ceramic products, tiles, granite and
sanitary ware products.
Financial Condition : Fair
Payments : Regular
Operating Trend : Steady
COMPANY NAME
SALAH D SHEHADEH TRADING
& SONS CO
ADDRESS
Registered & Physical Address
Street : Mecca Street
Area : Umm Al Summaq
PO Box : 620720
Town :
Country : Jordan
Telephone : (962-6) 5534910 / 5534911
Facsimile : (962-6) 5534912
Mobile : (962-79) 5647222
Email : belalsal@index.com.jo
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Central Business Area of Amman.
Branch Office (s)
Location Description
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Al
Sheialieh Rented
office premises
Ras Al Ain
Amman
Tel : (962-6) 4750993
Fax : (962-6) 5534912
KEY PRINCIPALS
·
Salah
Eddin Shehadeh Managing
Partner
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Belal
Salah Eddin Shehadeh Partner
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Ayad
Salah Eddin Shehadeh Partner
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Ms
Hadeel Mohamed Administrative
Secretary
LEGAL FORM &
OWNERS
Date of Establishment : Subject’s
operations date back to 1978, however it was officially registered on 14th
May
1991.
Legal Form :
Sharikat Al Tadhamun
(General Partnership)
Commercial Reg. No. : 62954, Amman
Partners Capital : JD 5,000
Name of Partner (s)
·
Salah
Eddin Shehadeh
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Belal
Salah Eddin Shehadeh
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Ayad
Salah Eddin Shehadeh
Note to the Legal Form
A General Partnership in
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 import and distribution of
ceramic products, tiles, granite and sanitary ware products.
Subject’s range of products includes tiles for the bathroom, bedroom, kitchen, and swimming pools, as well as outdoor tiles, industrial tiles for labs, hospitals, Colleges and big projects like hotels. The company also supplies tiles for special specifications like anti acid, anti slip, and anti frost.
Import Countries
: Italy and the United
States of America.
Acts as Agents
for :
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Monocotora Italy
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Atlas
Concord Italy
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Italgranite Italy
· Ceramica Sant’ Agostino Italy
· Elios Emmivi Italy
· Vallelunga Italy
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Kohler
Inc. United
States of America
Operating Trend
: Steady
Subject has a
workforce of 30 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 2,650,000 JD
2,915,000
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
Email
: secretariat@arabbank.com.jo
PAYMENT HISTORY
Subject’s payment
record is reported to be met in a regular and timely manner.
GENERAL COMMENTS
Opinion on the credit
figure of US$ 150,000:
Established in
1978, Salah D Shehadeh Trading & Sons Co enjoys a good reputation in the
local market supplying a range of ceramics, tiles, granite and sanitary ware
products. The company is run in a professional manner and deals with a number
of well known Italian suppliers.
According to local
sources subject’s financial position is considered to be satisfactory with
nothing detrimental uncovered regarding subject’s payment record. As such the
business is deemed a sound trade risk.
Maximum suggested
credit figure: US$ 150,000
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. |
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%)