MIRA
INFORM REPORT
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Report Date : |
20.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
OMAR ABDUL BAQI
& SONS CO |
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Registered Office : |
60 Nablus Street,
Jabal Hussein, P O Box 3244, Amman 11181 |
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Country : |
Jordan |
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Date of Incorporation : |
25th September 2002 |
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Com. Reg. No.: |
64853, Amman |
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Legal Form : |
General Partnership |
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Line of Business : |
Engaged in the
production and packaging of dates. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : OMAR ABDUL BAQI & SONS CO
Also Known As : RIS IRRIGATION
Country of Origin : Jordan
Legal Form : General Partnership
Registration Date : 25th September 2002
Commercial Registration Number : 64853, Amman
Partners Capital : JD 5,665
Total Workforce : 15
Line of Business : Producers and packagers of dates.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
OMAR ABDUL BAQI
& SONS CO
ALSO KNOWN AS
RIS IRRIGATION
ADDRESS
Registered & Physical Address
Street : 60 Nablus Street
Area : Jabal Hussein
PO Box : 3244
Town : Amman 11181
Country : Jordan
Telephone : (962-6) 5661670
Facsimile : (962-6) 5661670 / 5336242
Mobile : (962-79) 6713335
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
·
Al Ghour Area Farm
Amman
KEY PRINCIPALS
·
Omar Rasheed
Abdul Baqi Managing
Partner
·
Mohamed Omar
Rasheed Abdul Baqi Partner
·
Samer Omar
Rasheed Abdul Baqi Partner
LEGAL FORM & OWNERS
Date of Establishment : 25th
September 2002
Legal Form :
Sharikat Al Tadhamun
(General Partnership)
Commercial Reg. No. : 64853, Amman
Partners Capital : JD 5,665
Name of Partner (s)
·
Omar Rasheed
Abdul Baqi
·
Mohamed Omar
Rasheed Abdul Baqi
·
Samer Omar
Rasheed Abdul Baqi
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.
AFFILIATED COMPANIES
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Pioneers
Agricultural Co
Dubai
United Arab Emirates
LINE OF BUSINESS
Operations : Engaged in the production and packaging of
dates.
Import Countries
: Europe and GCC countries.
Subject has a
workforce of 15 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.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
2002, subject is owned and managed by members of the Abdul Baqi 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
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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%)