MIRA
INFORM REPORT
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Report Date : |
29.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
JAMIL SHIHAB
& PARTNERS CO |
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Registered Office : |
Al Shukhneh
Street, Hay Masoum, P O Box 151023, Zarqa |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
6th September 1998 |
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Com. Reg. No.: |
50769 |
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Legal Form : |
General Partnership |
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Line of Business : |
Engaged in the
import and distribution of beans. |
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 : JAMIL SHIHAB & PARTNERS CO
Also Known As : JAMIL SHIHAB TRADING CO AND PARTNERS
Country of Origin : Jordan
Legal Form : General Partnership
Registration Date : 6th September 1998
Commercial Registration Number : 50769
Partners Capital : JD 10,000
Total Workforce : 6
Line of Business : Distributors of beans.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
JAMIL SHIHAB &
PARTNERS CO
ALSO KNOWN AS
JAMIL SHIHAB
TRADING CO AND PARTNERS
ADDRESS
Registered & Physical Address
Street : Al Shukhneh Street
Area : Hay Masoum
PO Box :
151023
Town : Zarqa
Country : Jordan
Telephone : (962-5) 3845249
Facsimile : (962-5) 3845249
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Zarqa.
KEY PRINCIPALS
·
Jamil Qasem
Ismail Shihab Managing
Partner
·
Ahmed Jamil
Qasem Ismail Shihab Partner
·
Jehad Jamil
Qasem Ismail Shihab Partner
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Akram Jamil
Qasem Ismail Shihab Partner
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Ismail Jamil
Qasem Ismail Shihab Partner
·
Amjad Jamil
Qasem Ismail Shihab Partner
LEGAL FORM & OWNERS
Date of Establishment : 6th
September 1998
Legal Form :
Sharikat Al Tadhamun
(General Partnership)
Commercial Reg. No. : 50769
Partners Capital : JD 10,000
Name of Partner (s Percentage
·
Jamil Qasem Ismail
Shihab 17.5%
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Ahmed Jamil
Qasem Ismail Shihab 17.5%
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Jehad Jamil
Qasem Ismail Shihab 17.5%
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Akram Jamil
Qasem Ismail Shihab 17.5%
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Ismail Jamil
Qasem Ismail Shihab 15.0%
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Amjad Jamil
Qasem Ismail Shihab 15.0%
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 import and distribution of
beans.
Import Countries
: Egypt, Canada and the
United Kingdom.
Operating Trend
: Steady
Subject has a
workforce of 6 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 226,726 JD 233,811
Total Assets JD 106,277 JD 106,277
Stock JD
35,429 JD 38,972
Local sources
consider subject’s financial condition to be Fair.
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.
Date of transaction May 2007
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
1998, subject is owned and managed by members of the Shihab 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%)