MIRA
INFORM REPORT
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Report Date : |
15.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
YOUSEF OLAYAN AND PARTNER CO |
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Registered Office : |
Wadi Rimam, Amman |
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Country : |
Jordan |
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Date of Incorporation : |
29.08.2001 |
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Com. Reg. No.: |
58320 |
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Legal Form : |
General Partnership |
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Line of Business : |
Manufacture of household plastic
products, plastic ropes, and brushes. |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : YOUSEF OLAYAN AND PARTNER CO
Also Known As : YOUSEF
OLAYAN AND PARTNER FACTORY
FOR PLASTIC INDUSTRIES
Country of Origin : Jordan
Legal Form : General Partnership
Registration Date : 29th August 2001
Commercial Registration Number : 58320
Partners Capital : JD 50,000
Total Workforce : 15
Line of Business :
Manufacture of household plastic products, plastic
ropes, and brushes.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
YOUSEF OLAYAN AND PARTNER CO
ALSO KNOWN AS : YOUSEF OLAYAN AND PARTNER
FACTORY FOR PLASTIC INDUSTRIES
ADDRESS
Registered & Physical Address
Location : Wadi Rimam
Town : Amman
Country : Jordan
Telephone : (962-6) 4920117
Facsimile : (962-6) 4920118
Email : elayyan@al-abas.com
Premises
Subject operates from a small suite of offices and a factory that are rented
and located in the Industrial Area of Amman.
KEY PRINCIPALS
· Wael
Yousef Saleh Olayan Managing
Partner
· Yousef
Saleh Mohamed Olayan Partner
· Waleed
Olayan General
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 29th
August 2001
Legal Form : Sharikat Al
Tadhamun (General Partnership)
Commercial Reg.
No. : 58320
Partners Capital : JD 50,000
Name of Partner (s) Percentage
· Wael
Yousef Saleh Olayan 90%
· Yousef
Saleh Mohamed Olayan 10%
Note to the Legal
Form
A General
Partnership in Jordan may be formed by a minimum of two and a maximum of twenty
natural persons. The partners assume unlimited personal liability for the debt
of the partnership jointly and severally amongst themselves. Creditors may
claim the debts from either the company as a separate legal entity or from the
general partners. Each partner is entitled to take part in the management of
the partnership, although the partnership agreement normally provides for its
authorised representative and signatory.
There are no legal requirements concerning the amount of capital of a general partnership. The shares of each partner, presented in cash, kind or rights, must not be issued in the form of negotiable instruments, nor can they be transferred or assigned without the unanimous approval of the partners unless the memorandum specifically provides otherwise.
LINE OF BUSINESS
Operations : Engaged in the
manufacture of household plastic products, plastic ropes, and brushes.
Import Countries : India, Turkey and Saudi Arabia.
Subject has a workforce of 15 employees.
FINANCIAL HIGHLIGHTS
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
·
Jordan Ahli Bank
Queen Noor Street
Shemesani
PO Box 3103
Amman 11181
Tel: (962-6)
5638800
Fax: (962-6)
5622281
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
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.
Maximum suggested credit figure: US$ 100,000
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%)