MIRA
INFORM REPORT
|
Report Date : |
31.10.2007 |
IDENTIFICATION
DETAILS
|
Name : |
AL HERESH
INDUSTRIAL & TRADING CO |
|
|
|
|
Registered Office : |
Qaffaf Centre
Building, 1st Floor, King Hussein Street, Abdali, P O Box
183534, Amman 11118 |
|
|
|
|
Country : |
Jordan |
|
|
|
|
Date of Incorporation : |
7th May 1984 |
|
|
|
|
Com. Reg. No.: |
14101, Amman |
|
|
|
|
Legal Form : |
General Partnership |
|
|
|
|
Line of Business : |
Engaged in the
manufacture of cement pipes and pavement panels. |
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$ 150,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : AL HERESH INDUSTRIAL & TRADING CO
Country of Origin : Jordan
Legal Form : General Partnership
Registration Date : 7th May 1984
Commercial Registration Number : 14101, Amman
Partners Capital : JD 150,000
Total Workforce : 60
Line of Business : Manufacturers of cement pipes and pavement panels.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
AL HERESH
INDUSTRIAL & TRADING CO
ADDRESS
Registered & Physical Address
Building : Qaffaf Centre Building, 1st
Floor
Street : King Hussein Street
Area : Abdali
PO Box : 183534
Town : Amman 11118
Country : Jordan
Telephone : (962-6)
Facsimile : (962-6)
Email : alhersh@nets.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
·
Abu Alnada Owned
Factory premises
Hizam Ring Road
Amman
KEY PRINCIPALS
·
Mohamed Hasan
Hamdan Al Heresh Managing
Partner
·
Belal Mohamed
Hasan Al Heresh Partner
·
Husain Mohamed
Hasan Al Heresh Partner
·
Hasan Mohamed
Hasan Al Heresh Partner
LEGAL FORM & OWNERS
Date of Establishment : 7th May
1984
Legal Form :
Sharikat Al Tadhamun
(General Partnership)
Commercial Reg. No. : 14101, Amman
Partners Capital : JD 150,000
Name of Partner (s)
·
Mohamed Hasan
Hamdan Al Heresh
·
Belal Mohamed
Hasan Al Heresh
·
Husain Mohamed
Hasan Al Heresh
·
Hasan Mohamed
Hasan Al Heresh
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 manufacture of cement pipes
and pavement panels.
Subject also
distributes raw materials for the food industry.
Import Countries
: Europe and GCC countries.
Subject has a
workforce of 60 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
·
Arab Bank Plc
Souk Alkhodar Almarkazi Street
Wehdat
PO Box : 16067
Amman
Tel : (962-6) 4771122
Fax : (962-6) 4744572
Acc No. 0113/086236-31510
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
1984, subject is owned and managed by members of the Al Heresh family who are
well respected in the local business community.
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 and
the above credit figure is considered to be within subject’s financial means.
Maximum suggested
credit figure: US$ 150,000
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. |
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%)