MIRA
INFORM REPORT
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Report Date : |
30.10.2007 |
IDENTIFICATION
DETAILS
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Name : |
AHMAD HERSH &
PARTNER |
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Registered Office : |
Sports City, P O
Box 961055, Amman 11196 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1998 |
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Com. Reg. No.: |
11869, Amman |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the
manufacture of jams and fillings and packagers of honey. |
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 : AHMAD HERSH & PARTNER
Doing Business As : TRUST FOOD STUFF
Country of Origin : Jordan
Legal Form : Limited Liability Partnership
Start Date : 1998
Registration Date : 19th January 2006
Commercial Registration Number : 11869, Amman
Issued Capital : JD 9,900
Paid up Capital : JD 9,900
Total Workforce : 5
Line of Business : Manufacturers of jams and fillings and packagers of honey.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AHMAD HERSH &
PARTNER
DOING BUSINESS AS
TRUST FOOD STUFF
ADDRESS
Registered & Physical Address
Building : Sports City
PO Box : 961055
Town : Amman 11196
Country : Jordan
Telephone : (962-6) 5154979
Facsimile : (962-6) 5154979
Mobile : (962-79) 5653137
Email : hersh24@go.com.jo
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
·
Marka North Factory
premises
Amman
KEY PRINCIPALS
·
Ahmad Mohamed
Attat Hamed Hersh Managing
Partner
·
Khaled Mohamed
Attat Hamed Hersh Partner
LEGAL FORM & OWNERS
Date of Establishment : 1998, however
subject was registered on 19th January 2006.
Legal Form :
Sharikat Tadhamum Bill
Asshum (Limited Liability
Partnership)
Commercial Reg. No. : 11869, Amman
Issued Capital : JD 9,900
Paid up Capital : JD 9,900
Name of Partner (s) Percentage
·
Ahmad Mohamed
Attat Hamed Hersh 50%
·
Khaled Mohamed
Attat Hamed Hersh 50%
Note to the Legal Form
A Limited Liability Partnership in Jordan is formed by at least one general partner and one limited partner. The total number of partners must not exceed twenty. The general partners assume unlimited personal liability for the debt of the partnership jointly and severally amongst themselves. The liability of the limited partners for the debt of the partnership is limited to their contributions to the capital of the partnership.
LINE OF BUSINESS
Operations : Engaged in the manufacture of jams and
fillings and packagers of honey.
Import Countries
: Europe and China
Operating Trend
: Steady
Subject has a
workforce of 5 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 63,657 JD 70,730
Total Assets JD 140,000 JD 140,000
Stock JD 35,360 JD 38,900
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Arab Bank Plc
Sports City
Amman
Tel
: (962-6) 5158951
Fax
: (962-6) 5157953
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
1998, subject is involved in the manufacture of jams and fillings and packagers
of honey.
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.
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%)