MIRA
INFORM REPORT
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Report Date : |
18.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAEED ZAGHA TRADING EST |
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Registered Office : |
Plaza Building,
Bassman Street, PO Box 184549, Amman 11118 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
20.08.1996 |
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Com. Reg. No.: |
95440, Amman |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesaler and Retailer of Leather Products. |
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$ 175,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SAEED ZAGHA TRADING EST
Country of Origin : Jordan
Legal Form : Sole Proprietorship
Registration Date : 20th August 1996
Commercial Registration Number : 95440, Amman
Chamber Membership Number : 63875
Invested Capital : JD 5,000
Total Workforce : 6
Activities : Wholesale and retail of leather products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 175,000
COMPANY NAME
SAEED ZAGHA TRADING
EST
ADDRESS
Registered & Physical Address
Building : Plaza Building
Street : Bassman Street
PO Box : 184549
Town : Amman 11118
Country : Jordan
Telephone : (962-6) 4646592 / 5511559
Facsimile : (962-6) 4646596
Email : szagha@go.com.jo
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Amman.
KEY PRINCIPALS
Name Position
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Saeed
Ghalib Musbah Zagha Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 20th
August 1996
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 95440, Amman
Chamber Member No. : 63875
Invested Capital
: JD 5,000
Mr Saeed Ghalib Musbah Zagha is the sole proprietor of
the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of
leather products.
Import
Countries: Turkey and India
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
2,600,000 JD
2,950,000
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
Email : secretariat@arabbank.com.jo
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
business 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%)