MIRA
INFORM REPORT
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Report Date : |
22.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
AL OQAB ROASTERS & MILLS CO |
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Registered Office : |
Main Street, Muqablain, P
O Box 63, Amman 11591 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
24th January 2000 |
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Com. Reg. No.: |
54779 |
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Legal Form : |
General Partnership |
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Line of Business : |
Engaged in the
production, import and distribution of biscuits and confectionery, as well as the
wholesale of spices and nuts. |
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 : AL OQAB ROASTERS & MILLS CO
Country of Origin : Jordan
Legal Form : General Partnership
Registration Date : 24th January 2000
Commercial Registration Number : 54779
Partners Capital : JD 45,000
Total Workforce : 60
Line of Business :
Production, import and distribution of biscuits
and confectionery, as well
as the wholesale of spices and nuts.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL OQAB ROASTERS & MILLS CO
ADDRESS
Registered & Physical Address
Street : Main Street
Area : Muqablain
PO Box : 63
Town : Amman 11591
Country : Jordan
Telephone : (962-6) 4202230
Facsimile : (962-6) 4202236
Mobile : (962-79)
5564394
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Amman.
Branch Office (s)
Location Description
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Aqaba Owned
factory covering an
Tel: (962-3) 2030510 area of 2,500 square metres
Fax: (962-3)
2030520
KEY PRINCIPALS
·
Khalid Dawoud Natsheh Managing
Partner
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Abdul Qader Dawoud Natsheh Partner
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Abdul Hameed Dawoud Natsheh Partner
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Dawoud Khalid Dawoud Natsheh Partner
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Abdul Qader
Natsheh Finance
Manager
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Fares Natsheh Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 24th
January 2000
Legal Form :
Sharikat Al Tadhamun
(General Partnership)
Commercial Reg. No. : 54779
Partners Capital : JD 45,000
Name of Partner (s) Percentage
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Khalid Dawoud Natsheh 25%
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Abdul Qader Dawoud Natsheh 25%
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Abdul Hameed Dawoud Natsheh 25%
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Dawoud Khalid Dawoud Natsheh 25%
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 production, import and
distribution of biscuits and confectionery, as well as the wholesale of spices and nuts.
Import Countries
: The Far East, Europe and the
United States of America.
Export Countries
: Syria, Iraq &
Palestine
Operating Trend
: Steady
Subject has a
workforce of 60 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 850,000 JD 935,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Arab Islamic
International Bank
Al Wehdat Branch
Amman
Tel: (962-6) 4777801
Fax: (962-6) 4777817
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
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
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%)