MIRA
INFORM REPORT
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Report Date : |
18.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL NAURI ESTABLISHMENT FOR JUTE & CANVAS |
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Registered Office : |
Hawooz Street,
Awajan, PO Box 757 & 6008, Zarqa
13110 |
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Country : |
Jordan |
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Date of Incorporation : |
06.09.2003 |
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Com. Reg. No.: |
40155 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of jute, canvas and plastic ropes. |
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$ 60,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ISSAM ABDUL RAOUF AL NAURI
Also Known as : AL NAURI ESTABLISHMENT FOR JUTE & CANVAS
Country of Origin : Jordan
Legal Form : Sole Proprietorship
Registration Date : 6th September 2003
Commercial Registration Number : 40155
Invested Capital : JD 5,000
Total Workforce : 7
Line of Business : Distributors of jute, canvas and plastic ropes.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ISSAM ABDUL RAOUF
AL NAURI
ADDRESS
Registered & Physical Address
Street : Hawooz Street
Area : Awajan
PO Box : 757 & 6008
Town : Zarqa 13110
Country : Jordan
Telephone : (962-5) 3655022
Facsimile : (962-5) 3655022
Email : alnauri1@yahoo.com
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Zarqa.
KEY PRINCIPALS
·
Issam Abdul
Raouf Al Nauri Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 6th
September 2003
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 40155
Invested Capital
: JD 5,000
Mr Issam Abdul
Raouf Al Nauri is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to
as an establishment, the Company Law defines Mouassasa Khassa as the
business of an individual where liability for all debts is unlimited. The
business is the entire responsibility of its proprietor, who is liable for all
its debts to the extent of his entire wealth. There are no legal requirements
concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations : Engaged
in the import and distribution of jute, canvas and plastic ropes.
Import Countries
: Pakistan, Syria, Egypt,
India and Bangladesh.
Operating Trend
: Steady
Subject has a
workforce of 7 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 212,700 JD
226,880
Total Assets JD 106,350 JD
106,350
Stock JD 35,450 JD 38,270
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Jordan
Investment & Finance Bank
Shmeisani Branch
PO Box : 950601
Amman
Tel : (962-6) 5665145 / 5692470
Fax : (962-6) 5681410
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
2003, subject is owned and managed by Mr Issam Abdul Raouf Al Nauri who is well
respected in the local business community.
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
business is considered to be a fair trade risk.
Maximum suggested
credit figure: US$ 60,000
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%)