MIRA
INFORM REPORT
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Report Date : |
15.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
JORDAN NARROW FABRIC COMPANY |
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Registered Office : |
Schneller bridge, Marka North, PO Box 6243, Amman 11118 |
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Country : |
Jordan |
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Date of Incorporation : |
19.02.1991 |
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Com. Reg. No.: |
3776 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Production of army berets,
ribbons, badges, insignia and leather accessories, buckles, metal buttons,
stainless steel cookware, moulds, dyes and machinery spare parts. |
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 : JORDAN NARROW FABRIC COMPANY
Also Known As : MANNEH INDUSTRIAL GROUP
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 19th February 1991
Commercial Registration Number : 3776
Issued Capital : JD 21,000
Paid up Capital : JD 21,000
Total Workforce : 75
Activities :
Production of army berets, ribbons, badges, insignia
and leather
accessories,
buckles, metal buttons, stainless steel cookware, moulds, dyes and machinery
spare parts.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
JORDAN NARROW FABRIC COMPANY
ALSO KNOWN AS
MANNEH INDUSTRIAL GROUP
ADDRESS
Registered & Physical Address
Location : Schneller bridge, Marka North
PO Box : 6243
Town : Amman 11118
Country : Jordan
Telephone : (962-6) 4896180
Facsimile : (962-6) 4892685
Email : jnfc@manneh.com.jo
Premises
Subject operates from a medium sized suite of offices and a factory that
are owned and located in the Suburban Business Area of Amman.
KEY PRINCIPALS
Name Position
· Issa
Micheal Manneh Managing
Director
· Ms
Elaine Daoud Hana bdour Director
· Micheal
Issa Manneh Director
· Pierre
Issa Manneh Director
LEGAL FORM & OWNERS
Date of
Establishment : 19th
February 1991
History : Subject was
originally established on 21st January 1964 as a General Partnership
but was re-registered in 1991 under its current style.
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 3776
Issued Capital : JD 21,000
Paid up Capital : JD 21,000
Name of Shareholder (s) Percentage
· Issa
Micheal Manneh 14.28%
· Ms
Elaine Daoud Hana bdour 14.28%
· Micheal
Issa Manneh 14.28%
· Pierre
Issa Manneh 14.28%
· Jordanian
businessmen & private investors 42.88%
OPERATIONS
Activities: Engaged in the production of army berets,
ribbons, badges, insignia and leather accessories, buckles,
metal buttons, stainless steel cookware, moulds, dyes and
machinery spare parts.
Import Countries: Europe
Export Countries: Middle East
Subject has a workforce of 75 employees.
FINANCIAL DATA
Companies registered in Jordan are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
BANKERS
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Jordan Kuwait Bank
Abdali Branch
PO Box : 9776
Amman
Tel : (962-6)
5688814
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 and
the above credit figure is within subject’s financial means.
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%)