MIRA
INFORM REPORT
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Report Date : |
05.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
JORDAN COMMODITY TRADING AND AGENCIES CO LTD |
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Registered Office : |
148 Al Yarmouk
Street, PO Box 910206 & 9097,
Amman 11191 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
18.08.1990 |
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Com. Reg. No.: |
2256, Amman |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and Distribution of General Foodstuff and Cereals |
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 COMMODITY TRADING AND AGENCIES CO LTD
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 18th August 1990
Commercial Registration Number : 2256, Amman
Chamber Membership Number : 29096
Issued Capital : JD 350,000
Paid up Capital : JD 350,000
Total Workforce : 8
Activities : Import and distribution of general foodstuff and cereals
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
JORDAN COMMODITY
TRADING AND AGENCIES CO LTD
ADDRESS
Registered & Physical Address
Location : 148 Al Yarmouk Street
PO Box : 910206 & 9097
Town : Amman 11191
Country : Jordan
Telephone : (962-6) 4910383 / 4910650 / 4923256 /
5698452
Facsimile : (962-6) 4923257 / 5698453
Email : jct-jordan@nets.com.jo
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Amman.
Branch Office (s)
Location Description
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Al
Yadodah Area Rented
warehouse premises
KEY PRINCIPALS
Name Position
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Maurice Ostah
Akkawi Managing
Director
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Fareed Zabanah Director
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M. Imad Akkawi General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 18th
August 1990
Legal Form :
Limited Liability Company
Commercial Reg. No. : 2256, Amman
Chamber Member No. : 29096
Issued Capital : JD 350,000
Paid up Capital : JD 350,000
Name of Shareholder (s)
·
Maurice Ostah
Akkawi
·
Fareed Zabanah
AFFILIATED COMPANIES
·
Orient
Roasting Co
Amman
Jordan
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuff and cereals, including basmati rice and walnut kernels.
Import
Countries: United States of
America and Sri Lanka
International
Suppliers:
·
Monin Inc United States of America
Operating Trend: Steady
Subject has a
workforce of 8 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:
Total Sales JD 835,000 JD 880,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
HSBC Bank
Middle East
Jabel Amman
PO Box : 925286
Amman
Tel: (962-6) 5518090
Fax: (962-6) 5518085
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Bank of Jordan
Ltd
King Hussain Street
PO Box : 37
Amman
Tel : (962-6) 5630301
Fax : (962-6) 5638889
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established since
1990, Jordan Commodity Trading And Agencies Co Ltd has made steady progress in the
local market. It specialises in the import and distribution of general
foodstuff and cereals.
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.28 |
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UK Pound |
1 |
Rs.82.79 |
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Euro |
1 |
Rs.65.69 |
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%)