MIRA
INFORM REPORT
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Report Date : |
30.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
INTERNATIONAL TRADE DEVELOPMENT COMPANY LTD |
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Registered Office : |
Al Farid Building, 3rd Floor, King Hussein Street, Al Abdali Area, PO Box 184150, Amman 11118 |
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Country : |
Jordan |
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Date of Incorporation : |
16th August 1987 |
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Com. Reg. No.: |
1886, Amman |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of petroleum products. |
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 :
INTERNATIONAL TRADE DEVELOPMENT COMPANY LTD
Country of Origin :
Jordan
Legal Form :
Limited Liability Company
Registration Date :
16th August 1987
Commercial Registration Number :
1886, Amman
Issued Capital : JD 40,400
Paid up Capital :
JD 40,400
Total Workforce :
5
Line of Business :
Distributors of petroleum products.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
INTERNATIONAL TRADE DEVELOPMENT COMPANY LTD
ADDRESS
Registered & Physical Address
Building : Al Farid
Building, 3rd Floor
Street : King Hussein
Street
Area : Al Abdali
Area
PO Box : 184150
Town : Amman 11118
Country : Jordan
Telephone : (962-6) 5689570
Facsimile : (962-6)
5689571
Email : idv@nol.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
· Ahmad Ali Abdul
Aziz Managing
Director
· Fawziya Hussein
Abdul Aziz Director
· Ali Nemer Abdul
Aziz General
Manager
· Salah Hassan Finance
Manager
· Nemer Abdul Aziz Commercial
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 16th
August 1987
Legal Form : Sharikat Thet
Massouliya Mahdoudeh (Limited Liability
Company)
Commercial Reg.
No. : 1886, Amman
Issued Capital : JD 40,400
Paid up Capital : JD 40,400
Name of Shareholder (s) Percentage
· Ahmad Ali Abdul
Aziz 87%
· Fawziya Hussein
Abdul Aziz 13%
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.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
petroleum products.
Import Countries : France, Belgium and Germany.
Export Countries : Lebanon, Syria,
Egypt and the United Arab Emirates.
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 31/12/06 : Year
Ending 31/12/07 :
Total Revenue JD
1,063,500 JD
1,205,300
Total Assets JD 354,500 JD 354,500
Stock JD 50,339 JD 212,700
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Ahli Bank
Queen Noor Street
Amman
Tel : (962-6)
5622285
Fax : (962-6)
5622281
·
Housing Bank for Finance & Trade
Jabal Luwaibdeh
Amman
Tel : (962-6)
5663736
Fax : (962-6)
5668696
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1987, subject is involved in the import and distribution
of petroleum products.
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$ 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%)