MIRA
INFORM REPORT
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Report Date : |
29th
December, 2006 |
IDENTIFICATION
DETAILS
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Name : |
MINAS MAZAKIAN AND PARTNERS COMPANY |
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Registered Office : |
Salah
Eddin Street, Jabal Al Hussein Area, PO Box: 510485, Amman 11151, Jordan. |
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Country : |
Jordan |
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Date of Incorporation : |
02.03.1992 |
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Com. Reg. No.: |
28621, Amman |
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Legal Form : |
Sharikat
Al Tadhamun (General Partnership) |
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Line of Business : |
Importer
and Distributor of industrial machinery and
equipment. |
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$
40,000 |
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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 |
MINAS MAZAKIAN AND PARTNERS COMPANY |
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Country
of Origin |
Jordan |
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Legal
Form |
General Partnership |
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Registration
Date |
2nd March 1992 |
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Commercial
Registration Number |
28621, Amman |
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Partners
Capital |
JD 5,000 |
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Total
Workforce |
7 |
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Line
of Business |
Distributors of industrial machinery and equipment. |
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Financial
Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating
Trend |
Steady |
COMPANY NAME
MINAS
MAZAKIAN AND PARTNERS COMPANY
ADDRESS
Registered & Physical Address
Street : Salah Eddin Street
Area : Jabal Al Hussein Area
PO Box : 510485
Town : Amman 11151
Country : Jordan
Telephone : (962-6) 4613208
Facsimile : (962-6) 4613208
Email : mazakian@go.com.jo
Premises
Subject
operates from a small suite of offices that are rented and located in the
Central Business Area of Amman.
Branch Office (s)
Location Description
· Wehdat Area Showroom
premises
Madaba Street
Amman
Tel : (962-6) 4788745
· Sahab Area Showroom
premises
Al Shahid Circle
Amman
Tel
: (962-6) 4029186
KEY PRINCIPALS
· Antoine Minas Mazakian Managing
Partner
· Levon Minas Mazakian Partner
· Minas Levon Mazakian Partner
· Sahdi Jaber Showroom
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2nd March 1992
Legal Form : Sharikat Al Tadhamun (General Partnership)
Commercial Reg. No. : 28621, Amman
Partners
Capital : JD 5,000
Name of Partner (s) Percentage
· Levon Minas Mazakian 50.00%
· Antoine Minas Mazakian 49.98%
· Minas Levon Mazakian 0.02%
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
import and distribution of industrial machinery and equipment.
Import
Countries :
South Korea, Spain, Taiwan, Turkey and India.
Agencies
Held :
· LG South Korea
· GE Spain
· KSS Taiwan
· Konio South Korea
· Klensan Turkey
· Cromplon Graves India
Operating
Trend : Steady
Subject
has a workforce of 7 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
212,700 JD
283,600
Total
Assets JD
140,000 JD
140,000
Stock JD 56,720 JD
106,350
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
·
Housing
Bank PLC
Jabal Al Hussein, Amman
Tel
: (962-6) 4612703
Fax
: (962-6) 4611729
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Established
in 1992, subject is owned and managed by members of the Mazakian family who are
well respected in the local business community.
The
above credit figure is higher than transactions previously seen and a measure
of caution would be prudent.
Maximum
suggested credit figure: US$ 40,000
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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