MIRA
INFORM REPORT
|
Report Date : |
15.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
JADARAH CHEMICALS COMPANY LTD |
|
|
|
|
Registered Office : |
Randa Complex, 2nd Floor, Suite No. 206, Al Bayader, 8th
Circle, PO Box 11354, Amman 11814 |
|
|
|
|
Country : |
Jordan |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
27.01.2005 |
|
|
|
|
Com. Reg. No.: |
9555, Amman |
|
|
|
|
Legal Form : |
Limited Liability
Company |
|
|
|
|
Line of Business : |
Import and
Distribution of Chemicals and related Raw Materials. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 250,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : JADARAH CHEMICALS
COMPANY LTD
Country of Origin : Jordan
Legal Form :
Limited Liability Company
Registration Date : 27th
January 2005
Commercial
Registration Number : 9555,
Amman
Chamber Membership
Number : 71472
Issued Capital : JD
45,000
Paid up Capital : JD
45,000
Total Workforce : 6
Activities :
Import and distribution of chemicals and related raw materials.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 250,000
COMPANY NAME
JADARAH CHEMICALS COMPANY LTD
ADDRESS
Registered & Physical Address
Building : Randa
Complex, 2nd Floor, Suite No. 206
Area : Al Bayader,
8th Circle
PO Box : 11354
Town : Amman 11814
Country : Jordan
Telephone : (962-6) 5688585
/ 5829876
Facsimile : (962-6)
5688586 / 5821272
Email : info@jadarahchemicals.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Amman.
KEY PRINCIPALS
Name Position
· Feras Mohamed
Abdul Mohsen Al Shorafaa Managing
Director
· Zahara Emad
Abdulwahab Morjan Director
· Fatin Ibrahim
Mahmoud Zarotur Director
· Reem Obiedat Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 27th
January 2005
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 9555, Amman
Chamber Member No. : 71472
Issued Capital : JD 45,000
Paid up Capital : JD 45,000
Name of Shareholder (s)
· Feras Mohamed
Abdul Mohsen Al Shorafaa
· Zahara Emad
Abdulwahab Morjan
· Fatin Ibrahim
Mahmoud Zarotur
OPERATIONS
Activities: Engaged in the import and distribution of chemicals and related raw
materials.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 6 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Jordanian Dinars (JD)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Sales JD 7,500,000 JD 8,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
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.
GENERAL COMMENTS
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.
The financial information given in the report has been confirmed by Reem Obiedat – Sales Manager.
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%)