MIRA
INFORM REPORT
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Report Date : |
04.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
DURRAT AL KHAIR
TRADING COMPANY LTD |
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Registered Office : |
Kamal Building, 3rd
Floor, Office No. 8, Nasouh Ali Taher Street, Swafiyah, Amman |
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Country : |
Jordan |
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Date of Incorporation : |
10th May 2006 |
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Com. Reg. No.: |
12085, Amman |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the
import and distribution of general merchandise. |
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$ 50,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : DURRAT AL KHAIR TRADING COMPANY LTD
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 10th May 2006
Commercial Registration Number : 12085, Amman
Issued Capital : JD 200,000
Paid up Capital : JD 200,000
Total Workforce : 5
Line of Business : Distributors of general merchandise.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
DURRAT AL KHAIR
TRADING COMPANY LTD
ADDRESS
Registered & Physical Address
Building : Kamal Building, 3rd
Floor, Office No. 8
Street : Nasouh Ali Taher Street
Area : Swafiyah
Town : Amman
Country : Jordan
Telephone : (962-6) 5852139
Facsimile : (962-6) 5861631
Email : durratalkhair@yahoo.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Amman.
Branch Office (s)
Location Description
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Mqablain Area Warehouse
premises
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Zarqa Free
Zone Warehouse
premises
KEY PRINCIPALS
Name Nationality Position
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Khader Abdul
Ameer Jawad Al Saadi Iraqi Managing Director
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Mohamed
Abdulla Ahmed Al Farraj Jordanian Director
LEGAL FORM & OWNERS
Date of Establishment : 10th
May 2006
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (Limited
Liability Company)
Commercial Reg. No. : 12085, Amman
Issued Capital : JD 200,000
Paid up Capital : JD 200,000
Name of Shareholder (s)
Percentage
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Khader Abdul
Ameer Jawad Al Saadi 50%
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Mohamed
Abdulla Ahmed Al Farraj 50%
Note to the Legal Form
A Limited Liability Company is defined in the Company Law as a company incorporated with a minimum of two and maximum of fifty shareholders, each responsible only for the liabilities of the company to the extent of their share participation in the capital of the company.
AFFILIATED COMPANIES
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Al Saadi Co
Iraq
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Iraq Al Salam
Co
Iraq
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Al Saadi
Contracting Co
Iraq
LINE OF BUSINESS
Operations : Engaged in the import and distribution of general
merchandise.
Import Countries
: India
Export Countries
: Iraq
Subject has a
workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Societe
Generale de Banque Jordan
280 Prince Mohammed Street
Amman
Tel : (962-6) 4614925
Fax : (962-6) 4614874
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
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.
Maximum suggested
credit figure: US$ 50,000
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%)