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MIRA
INFORM REPORT
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Report Date : |
06.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
HANI & BASEM
SINOKROT COMPANY (SINOKROT POULTRY FARMS) |
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Registered Office : |
Al Muqablain TV
Road, P O Box 830239, Amman 11183 |
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Country : |
Jordan |
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Date of Incorporation : |
1st April 1989 |
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Com. Reg. No.: |
21661 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged as operators
of a poultry farm, specialising in chickens, chicks and egg production. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
EUR400,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : HANI & BASEM SINOKROT COMPANY (SINOKROT POULTRY
FARMS)
Country of Origin : Jordan
Legal Form : Limited Liability Partnership
Registration Date : 1st April 1989
Commercial Registration Number : 21661, Amman
Issued Capital : JD 250,000
Paid up Capital : JD 250,000
Total Workforce : 400
Line of Business : Operators of a poultry farm.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
HANI & BASEM
SINOKROT COMPANY (SINOKROT POULTRY FARMS)
ADDRESS
Registered & Physical Address
Location : Al Muqablain TV Road
PO Box : 830239
Town : Amman 11183
Country : Jordan
Telephone : (962-6) 4397022
Facsimile : (962-6) 4397097
Email : sinokrot@go.com.jo
Premises
Subject operates
from a large suite of offices and a farm that are owned and located in the
Rural Area of Amman.
KEY PRINCIPALS
·
Hani Rashad
Sinokrot Managing
Partner
·
Basem Rashad
Sinokrot Partner
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Hana Elias
Konkur General
Manager
·
Nidal Abu
Hakama Commercial
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1st
April 1989
Legal Form :
Sharikat Tadhamum Bill
Asshum (Limited Liability
Partnership)
Commercial Reg. No. : 21661, Amman
Issued Capital : JD 250,000
Paid up Capital : JD 250,000
Name of Partner (s)
·
Hani Rashad
Sinokrot
·
Basem Rashad
Sinokrot
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 as operators of a poultry farm, specialising
in chickens, chicks and egg production.
Import Countries
: Europe and GCC countries.
Subject has a
workforce of approximately 400 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in Jordan are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
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
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of transaction August 2006
Credit amount 138,000
Amount overdue 0
Payment terms 120
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
GENERAL COMMENTS
Opinion on the
credit figure of EUR 300,000
Established in
1989, subject is owned and managed by members of the Sinokrot 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
business 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: EUR400,000
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%)