MIRA
INFORM REPORT
|
Report Date : |
23.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
I L F TRADE CO
LTD |
|
|
|
|
Registered Office : |
Al Sayegh
Commercial Centre, King Hussein Street, Abdali, P O Box 911666, Amman 11191 |
|
|
|
|
Country : |
Jordan |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
3rd February 2002 |
|
|
|
|
Com. Reg. No.: |
7107, Amman |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Import and distribution
of pharmaceuticals, veterinary drugs and cosmetics. |
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$ 200,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : I L F TRADE CO LTD
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 3rd February 2002
Commercial Registration Number : 7107, Amman
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
Total Workforce : 5
Line of Business : Distributors of pharmaceuticals, veterinary drugs and cosmetics.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
I L F TRADE CO LTD
ADDRESS
Registered & Physical Address
Location : Al Sayegh Commercial Centre
Street : King Hussein Street
Area : Abdali
PO Box : 911666
Town : Amman 11191
Country : Jordan
Telephone : (962-6) 4629111
Facsimile : (962-6) 4620662
Email : hisham@ilf-jo.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Amman.
KEY PRINCIPALS
·
Hisham Abdul
Rahman Jadallah Managing
Director
·
Najah Yousef
Hasan Jadallah Director
·
Thalji Luis
Hattar Director
LEGAL FORM &
OWNERS
Date of Establishment : 3rd
February 2002
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (Limited
Liability Company)
Commercial Reg. No. : 7107, Amman
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
Name of Shareholder
(s) Percentage
·
Hisham Abdul
Rahman Jadallah 37.5%
·
Thalji Luis
Hattar 37.5%
·
Najah Yousef
Hasan Jadallah 25.0%
Note to the Legal Form
A Limited Liability Company is defined in the Company Law as a company incorporated with a minimum of two and maximum of fifty shareholders, each responsible only for the liabilities of the company to the extent of their share participation in the capital of the company.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
pharmaceuticals, veterinary drugs and cosmetics.
Import Countries
: Europe and the Far East.
International Suppliers :
·
Nectar
Lifescience India
·
Unimark
Remedies India
·
Lee Pharma India
·
Anqui Lu’an China
·
Hisoar China
·
Jiande China
·
Dasan South Korea
·
Medichem Hong Kong
·
Nutrilo Germany
·
Epo Italy
·
Gattefosse France
·
Seppic France
·
Glide Chem India
·
Ranq Pharma India
·
Austar China
Export Countries
: Syria, Saudi Arabia,
Lebanon and Iraq.
Operating Trend
: Steady
Subject has a
workforce of 5 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 5,313,600 JD
5,667,845
Total Assets JD 106,260 JD 106,260
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
·
Bank of Jordan
Ltd
King Hussain Street
PO Box : 37
Amman
Tel : (962-6) 5630301
Fax : (962-6) 5638889
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit
figure of US$ 150,000
Established in
2002, subject is involved in the import and distribution of pharmaceuticals,
veterinary drugs and cosmetics.
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
company 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: US$ 200,000
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 |
|
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%)