MIRA
INFORM REPORT
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Report Date : |
05.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
HALAWANI INDUSTRIAL COMPANY |
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Registered Office : |
North Sahab, Abdaliya Village, PO Box
7360, Amman 11118 |
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Country : |
Jordan |
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Date of Incorporation : |
17.06.1981 |
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Com. Reg. No.: |
10072 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacture of confectionery products, potato chips, corn
chips and similar snacks |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 800,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : HALAWANI INDUSTRIAL COMPANY
Country of Origin : Jordan
Legal Form : Limited Liability Partnership
Registration Date : 17th June 1981
Commercial Registration Number : 10072
Issued Capital : JD 300,000
Paid up Capital : JD 300,000
Total Workforce : 180
Line of Business : Manufacture of confectionery products, potato
chips, corn chips and similar snacks.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
HALAWANI INDUSTRIAL COMPANY
ADDRESS
Registered & Physical Address
Location : North Sahab,
Abdaliya Village
PO Box : 7360
Town : Amman 11118
Country : Jordan
Telephone : (962-6) 4021789
/ 4021787
Facsimile : (962-6)
4024198 / 4021789
Mobile : (962-79)
5523244 / 5550685
Email : info@hic.jo
Premises
Subject operates from a suite of offices, a factory and a warehouse
covering an area of 40,000 square metres that are owned and located in the
Industrial Area of Amman.
Branch Office (s)
Location Description
· Al Abdali Area Rented
sales office
PO Box 215
Amman 11531
Tel: (962-6) 4024171
KEY PRINCIPALS
· Abdul Kareem
Mohamed Abdul Wahab Al Halawani Managing
Partner
· Ashraf Al Halawani General
Manager
· Tayseer Al Thalji Sales
Manager
· Raed Abu Al Haiga Marketing
Manager
· Fatima Al Mugrabi Finance
Manager
· Ahmad Al Qannas Plant
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 17th
June 1981
Legal Form : Sharikat Tadhamum
Bill Asshum (Limited Liability Partnership)
Commercial Reg.
No. : 10072
Issued Capital : JD 300,000
Paid up Capital : JD 300,000
Name of Partner (s) Percentage
· Abdul Kareem
Mohamed Abdul Wahab Al Halawani 99.66%
· Mrs. Ghada Adnan Haikal * 0.34%
* Mrs. Ghada Adnan Haikal is the wife of Abdul
Kareem Mohamed Abdul Wahab Al Halawani
Note to the Legal Form
A Limited Liability Partnership in Jordan is formed by at least one general partner and one limited partner. The total number of partners must not exceed twenty. The general partners assume unlimited personal liability for the debt of the partnership jointly and severally amongst themselves. The liability of the limited partners for the debt of the partnership is limited to their contributions to the capital of the partnership.
LINE OF BUSINESS
Operations : Engaged in the manufacture of confectionery
products, potato chips, corn chips
and similar snacks.
Import Countries : Italy, Netherlands, United Kingdom, United States
of America, Saudi
Arabia, Lebanon, Syria, Egypt, and
Sudan.
International Suppliers :
· Continental
Products Int'l Netherlands
· Codrico Netherlands
· Kerry Ltd United
Kingdom
· Savoury Flavours
Ltd United
Kingdom
· Saudi Modern
Packaging Co. Ltd Saudi
Arabia
· LEHA For Trading
& Agricultural Marketing Saudi
Arabia
· Quest
International Egypt
Export Countries : Yemen, Palestine, Iraq and the Gulf Countries.
Brand Names : MY CHIPS, NICE, and HALAWANI CHIPS
Operating Trend : Steady
Subject has a workforce of approximately 180 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Jordanian Dinars (JD)
Year
Ending 31/12/05: Year
Ending 31/12/06:
Total Revenue JD
18,400,000 JD
18,762,000
Local sources consider subject’s financial condition to be Good.
BANKERS
·
Arab Banking Corporation
Sheimesani
Amman
Tel:
(962-6) 5664183/5
Fax:
(962-6) 5686291
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The Housing Bank For Trade & Finance
Sahab
Branch
Tel:
(962-6) 4021189 / 4023074
Fax:
(962-6) 4023811
·
Arab Bank Plc
Wasfi Tal
Street
Amman
Tel:
(962-6) 5535922
Fax:
(962-6) 5536923
The subject has credit facilities from Arab Banking Corporation, amounting
to US$ 4,200,000 as well as credit facilities from the Housing Bank for Trade
& Finance for US$ 700,000.
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Halawani Industrial Company has been in business for over 25 years and
specialises in the manufacture of confectionery products, potato chips, corn
chips and similar snacks.
During the course of this investigation nothing detrimental was
uncovered regarding the manner in which payment obligations are fulfilled. The
operating history is clear and the financial situation is satisfactory. As such
we are of the opinion that the subject is a fair trade risk and the above
credit figure is within subject’s financial means.
Maximum suggested credit figure: US$ 800,000
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%)