MIRA
INFORM REPORT
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Report Date : |
18.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
ASIA STAR TRADING ESTABLISHMENT |
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Registered Office : |
Al Bir Commercial
Centre, Abdul Hamid Sharaf Street, Shmeisani, PO Box 941801, Amman 11194 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1993 |
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Com. Reg. No.: |
77978, Amman |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of scrap metals and waste materials. |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ASIA STAR TRADING ESTABLISHMENT
Country of Origin : Jordan
Legal Form : Sole Proprietorship
Registration Date : 1993
Commercial Registration Number : 77978, Amman
Invested Capital : JD 5,000
Total Workforce : 5
Line of Business : Distributors of scrap metals and waste materials.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ASIA STAR TRADING
ESTABLISHMENT
ADDRESS
Registered & Physical Address
Location : Al Bir Commercial Centre
Street : Abdul Hamid Sharaf Street
Area : Shmeisani
PO Box : 941801
Town : Amman 11194
Country : Jordan
Telephone : (962-6) 5673236
Facsimile : (962-6) 5673237
Email : asiastar@go.com.jo
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Amman.
KEY PRINCIPALS
·
Naief Essa
Qutaish Proprietor
& General Manager
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Issa Naief
Qutaish Assistant
General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1993
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 77978, Amman
Invested Capital
: JD 5,000
Mr Naief Essa
Qutaish 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 scrap metals and waste materials.
Import Countries
:
Italy, Belgium,
Egypt, Morocco and Yemen.
Operating Trend
:
Steady
Subject has a
workforce of 5 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 2,125,000 JD
2,210,000
Local sources
consider subject’s financial condition to be Fair.
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
Acc No. 242697 8 500 USA
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1993, subject is involved in the import and distribution of scrap metals and
waste materials.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the business is deemed a fair trade risk.
Maximum suggested
credit figure: US$ 150,000
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%)