MIRA
INFORM REPORT
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Report Date : |
02.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
SOUSOU BROTHERS
CO |
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Registered Office : |
King Abdulla 1st
Street, Mahatta, P O Box 689, Amman 11118 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1957 |
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Com. Reg. No.: |
1217, Amman |
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Legal Form : |
General Partnership |
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Line of Business : |
Engaged in the wholesale
and retail of automotive components and related spare parts. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Maximum Credit Limit : |
US$ 50,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SOUSOU BROTHERS CO
Country of Origin : Jordan
Legal Form : General Partnership
Start Date : 1957
Registration Date : 16th May 1967
Commercial Registration Number : 1217, Amman
Partners Capital : JD 5,000
Total Workforce : 4
Line of Business : Wholesalers and retailers of automotive components and related spare
parts.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
SOUSOU BROTHERS CO
ADDRESS
Registered & Physical Address
Street : King Abdulla 1st
Street
Area : Mahatta
PO Box : 689
Town : Amman 11118
Country : Jordan
Telephone : (962-6) 4651740
Facsimile : (962-6) 4651740
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Amman.
KEY PRINCIPALS
·
Salim Hana
Salim Sousou Managing
Partner
·
Saliba Salim
Sousou Partner
·
Jenvive Najib
Michael Sayes Partner
·
Nahla Hana Salim
Sousou Partner
·
Sari Hana
Salim Sousou Partner
LEGAL FORM & OWNERS
Date of Establishment : 1957 however
subject was registered on 16th May 1967.
Legal Form :
Sharikat Al Tadhamun
(General Partnership)
Commercial Reg. No. : 1217, Amman
Partners Capital : JD 5,000
Name of Partner (s)
·
Salim Hana
Salim Sousou
·
Saliba Salim
Sousou
·
Jenvive Najib
Michael Sayes
·
Nahla Hana
Salim Sousou
·
Sari Hana
Salim Sousou
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 wholesale and retail of
automotive components and related spare parts.
Import Countries
: Europe, Japan and the
United States of America.
Operating Trend
: Steady
Subject has a
workforce of 4 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 212,460 JD 226,624
Total Assets JD 141,640 JD 141,640
Stock JD 70,820 JD 84,984
Local sources
consider subject’s financial condition to be Fair.
BANKERS
·
ANZ Grindlays
Bank
Shmeisani Branch
PO Box : 9997
Amman
Tel : (962-6) 4660201
Fax : (962-6) 4679115
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
1957, subject is involved in the wholesale and retail of automotive components
and related spare parts.
The above credit
figure is higher than transactions previously seen and a measure of caution
would be prudent.
Maximum suggested
credit figure: US$ 50,000
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. |
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%)