MIRA
INFORM REPORT
|
Report Date : |
23.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
AL
BARQ ELECTROMECHANICAL SUPPLIES |
|
|
|
|
Registered Office : |
Sport
City Street, P O Box 960852, Amman 11196 |
|
|
|
|
Country : |
Jordan |
|
|
|
|
Financials (as on) : |
31.12.2005 |
|
|
|
|
Date of Incorporation : |
1st December 2000 |
|
|
|
|
Com. Reg. No.: |
6456, Amman |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business : |
Engaged
in the import and distribution of electromechanical products, circuit
breakers, panel controls and switches. |
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
125,000 |
|
|
|
|
Status : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : AL BARQ ELECTROMECHANICAL SUPPLIES
Country of Origin : Jordan
Legal Form : Limited Liability Partnership
Registration Date : 1st December 2000
Commercial Registration Number : 6456, Amman
Issued Capital : JD 10,000
Paid up Capital : JD 10,000
Total Workforce : 12
Line of Business : Distributors of electromechanical products, circuit
breakers, panel controls and switches.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL BARQ
ELECTROMECHANICAL SUPPLIES
ADDRESS
Registered & Physical Address
Location : Sport City Street
PO Box : 960852
Town : Amman 11196
Country : Jordan
Telephone : (962-6) 5620244
Facsimile : (962-6) 5694812
Email : majedzalloum@hotmail.com
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Central Business Area of Amman.
Branch Office (s)
Location Description
· PO Box : 1160 Office
premises
Al Jubaiha
KEY PRINCIPALS
·
Majed
Mohamed Zalloum Managing
Partner
·
Raed
Bader Partner
·
Zuhair
Barak Partner
LEGAL FORM &
OWNERS
Date of Establishment : 1st December 2000
Legal Form : Sharikat Tadhamum Bill Asshum (Limited Liability Partnership)
Commercial Reg. No. : 6456, Amman
Issued
Capital : JD 10,000
Paid
up Capital : JD 10,000
Name of Partner (s)
·
Majed
Mohamed Zalloum
·
Raed
Bader
·
Zuhair
Barak
Note to the Legal Form
A Limited Liability Partnership in Jordan is formed by at least one general partner and one limited partner. The total number of partners must not exceed twenty. The general partners assume unlimited personal liability for the debt of the partnership jointly and severally amongst themselves. The liability of the limited partners for the debt of the partnership is limited to their contributions to the capital of the partnership.
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of electromechanical products, circuit breakers, panel
controls and switches.
Import
Countries :
Europe, Tunisia and the Far East.
International
Suppliers :
· Siyam Tunisia
· Best Tranfo Tunisia
Operating
Trend : Steady
Subject
has a workforce of 12 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
835,000 JD
880,000
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
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
Date of transaction January 2006
Credit
amount 100,000
Amount
overdue 0
Payment
terms 60 days
Payment
Method Letters of
Credit
Paying
record No
Complaints
Currency Euros
GENERAL COMMENTS
Established
in 2000, subject is involved in the import and distribution of
electromechanical products, circuit breakers, panel controls and switches.
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.
Maximum
suggested credit figure: US 125,000
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 |
|