MIRA INFORM REPORT

 

 

Report Date :

08.10.2007

 

IDENTIFICATION DETAILS

 

Name :

PERFECT PRINTING PRESS CO LTD

 

 

Registered Office :

Gate 1, Street No. 13, King Abdullah II Industrial Estate, Sahab, P O Box 163, Amman 11512

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

18th March 1992

 

 

Com. Reg. No.:

2745, Amman

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Engaged in the manufacture of carton boxes, packaging materials and paper printing.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

US$ 600,000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

SUMMARY

 

Company Name                         : PERFECT PRINTING PRESS CO LTD

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Company

Registration Date                                   : 18th March 1992

Commercial Registration Number            : 2745, Amman

Issued Capital                                        : JD 450,000

Paid up Capital                                      : JD 450,000

Total Workforce                                     : 180

Line of Business                                    : Manufacturers of carton boxes, packaging materials and paper printing.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

 

 

 

COMPANY NAME

 

PERFECT PRINTING PRESS CO LTD

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Gate 1

Street               : Street No. 13

Area                 : King Abdullah II Industrial Estate, Sahab

PO Box             : 163

Town                 : Amman 11512

Country             : Jordan

Telephone         : (962-6) 4023856

Facsimile          : (962-6) 4023857

Mobile               : (962-79) 5445511

Email                : natieh@ppp.nuqul.com.jo

 

 

Premises

 

Subject operates from a large suite of offices and a factory that are owned and located in the Industrial Area of Amman.

 

 

KEY PRINCIPALS

 

·       Elia Qustandi Nuqul                                                               Managing Director

 

·       Marwan Elia Nuqul                                                                Director

 

·       Ghassan Elia Nuqul                                                               Director

 

·       Nidal Mahmoud Attieh                                                           General Manager

 

·       Ahmed Assaf                                                                        Finance Manager

 

·       Belal Kamel                                                                          Administration Manager

 

·       Paris Arkates                                                                        Sales Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 18th March 1992

 

Legal Form                  : Sharikat Thet Massouliya Mahdoudeh (Limited Liability Company)

 

Commercial Reg. No.  : 2745, Amman

 

Issued Capital              : JD 450,000

 

Paid up Capital            : JD 450,000

 

 

Name of Shareholder (s)         Percentage

 

·       Elia Nuqul & Sons Co                                                                        88.90%

 

·       Elia Qustandi Nuqul                                                                           4.44%

 

·       Marwan Elia Nuqul                                                                            3.33%

 

·       Ghassan Elia Nuqul                                                                           3.33%

 

Note to the Legal Form

 

A Limited Liability Company is defined in the Company Law as a company incorporated with a minimum of two and maximum of fifty shareholders, each responsible only for the liabilities of the company to the extent of their share participation in the capital of the company.

 

 

AFFILIATED COMPANIES

 

·       Nuqul Brothers Company Ltd

Amman

 

·       Fine Hygienic Paper Co

Amman

 

·       Al Keena Hygienic Paper Mill Co Ltd

Amman

 

·       Nuqul Engineering & Contracting Co

Amman

 

·       Advance Industries Co Ltd

Amman

 

·       Quality Food Co Ltd

Amman

 

·       Modern Aluminium Industries Co Ltd

Amman

 

·       Arab Foam Factories Co Ltd

Amman       

 

·       Al Bardi Paper Mill Company

Cairo

     Egypt

 

 

LINE OF BUSINESS

 

Operations : Engaged in the manufacture of carton boxes, packaging materials and paper printing.

 

Import Countries : Austria, Italy, Belgium, Germany and the United States of America.

 

International Suppliers :

 

·       Appel                                   Germany

·       Bobst                                   Tunisia

·       August Graef GNU                Germany

·       BASF                                   Germany

·       FIDIA                                   Italy

·       Phoenix                                Germany

·       ARETS                                 Belgium

 

Export Countries : Egypt, Sudan, Palestine, Saudi Arabia and the United Arab Emirates.

 

Operating Trend : Steady

 

Subject has a workforce of 180 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 7,078,000                                         JD 7,219,560

 

Total Assets                              JD 7,785,800                                         JD 7,230,465

 

Stock                                        JD 2,831,200                                         JD 2,831,200

 

Local sources consider subject’s financial condition to be Fair.

 

 

BANKERS

 

·       Arab Bank Plc

Shmeisani Branch

PO Box : 950545 & 950544

Amman 11195

Tel : (962-6) 5607231 / 5607115

Fax : (962-6) 5606793 / 5606830

 

·       HSBC Bank Middle East

Khalid Bin Walid Street

Jebel Hussein

PO Box : 925286

Amman

Tel : (962-6) 5660471 / 5607471

     Fax : (962-6) 5692964

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                                 April 2007

Credit amount                                        34,000

Amount overdue                         0

Payment terms                                      120 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               Pounds Sterling

 

 

GENERAL COMMENTS

 

Opinion on the credit figure of US$ 150,000

 

Established in 1992, subject is involved in the manufacture of carton boxes, packaging materials and paper printing.

 

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$ 600,000

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions