MIRA
INFORM REPORT
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Report Date : |
15.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL AMER BROS TECHNICAL COMPANY |
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Registered Office : |
Prince
Hassan Street, Ras Al Ain Area, PO Box 620026, Amman 11162 |
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Country : |
Jordan |
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Date of Incorporation : |
14.01.2007 |
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Com. Reg. No.: |
83957, Amman |
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Legal Form : |
General Partnership |
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Line of Business : |
Import and Distribution of Conveyors and V Belts as well
as Transmission Systems |
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$ 100,000 |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL AMER BROS TECHNICAL COMPANY
Country of Origin : Jordan
Legal Form : General Partnership
Registration Date : 14th January 2007
Commercial Registration Number : 83957, Amman
Chamber Membership Number : 139694
Partners Capital : JD 10,000
Total Workforce : 11
Activities : Import and distribution of conveyors and V belts as well as transmission
systems
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 100,000
Person Interviewed : Othman Abu Al Olaa, Sales Manager
COMPANY NAME
AL AMER BROS
TECHNICAL COMPANY
ADDRESS
Registered & Physical Address
Street : Prince
Hassan Street
Area : Ras
Al Ain Area
PO Box : 620026
Town : Amman 11162
Country : Jordan
Telephone : (962-6) 4780602
Facsimile : (962-6) 4765662
Email : abetco@hotmail.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
·
Ayoub
Ahmed Mohamed Al Amer Managing
Partner
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Marwan
Ahmed Mohamed Al Amer Partner
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Othman
Abu Al Olaa Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 14th
January 2007
Legal Form :
General Partnership
Commercial Reg. No. : 83957, Amman
Chamber Member No. : 139694
Partners Capital : JD 10,000
Name of Partners (s)
·
Ayoub
Ahmed Mohamed Al Amer
·
Marwan
Ahmed Mohamed Al Amer
OPERATIONS
Activities: Engaged in the import and distribution of conveyors
and V belts as well as transmission systems.
Import
Countries: India, United States of America and Germany
International
Suppliers:
·
Bix
Transmission Ltd India
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Dayco United States
of America
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Argo Germany
Subject has a
workforce of 11 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
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
Investigations undertaken
in Amman did not reveal any sign of payment defaults or delays during initial
trading stages, and subject is believed to meet its payment obligations in a
timely manner, nevertheless, and in view of the company’s infancy and the lack
of a more consistent payment and financial record, a measure of caution is
advisable and a close monitoring of subject’s business development is
recommended.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.94 |
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UK Pound |
1 |
Rs.72.07 |
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Euro |
1 |
Rs.64.70 |
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%)