MIRA
INFORM REPORT
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Report Date : |
01.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
INTEGRATED FOR PRIMARY INGREDIENTS |
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Registered Office : |
Abdullah Mousa
Islaim Building, Office No. 207, Queen Rania Street, Jubaiha, PO Box 212224, Amman 11121 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
07.01.2003 |
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Com. Reg. No.: |
139057 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
General Commission Agents and
Companies Representation |
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$ 100,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : INTEGRATED FOR PRIMARY INGREDIENTS
Country of Origin : Jordan
Legal Form : Sole Proprietorship
Registration Date : 7th January 2003
Commercial Registration Number : 139057
Chamber Membership Number : 101045
Invested Capital : JD 5,000
Total Workforce : 3
Activities : General commission agents and companies representation
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
COMPANY NAME
INTEGRATED FOR PRIMARY INGREDIENTS
ADDRESS
Registered & Physical Address
Building : Abdullah Mousa Islaim Building,
Office No. 207
Street : Queen Rania Street
Area : Jubaiha
PO Box : 212224
Town : Amman 11121
Country : Jordan
Telephone : (962-6) 5654662 / 5654663
Facsimile : (962-6) 5621038
/ 5654661
Email : narieman@batelco.jo
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Amman.
KEY PRINCIPALS
Name Position
·
Nareman
Ibrahim Mohamed Abu Fares Proprietor
& General Manager
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Sami
Al Manfalouti Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 7th
January 2003
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 139057
Chamber Member No. : 101045
Invested Capital
: JD 5,000
Mr Nareman Ibrahim Mohamed Abu Fares is the sole
proprietor of the business.
OPERATIONS
Activities: General
commission agents and companies representation, specialising in primary raw
materials for
pharmaceuticals.
Operating Trend: Steady
Subject has a
workforce of 3 employees.
FINANCIAL DATA
Financial highlights
provided by local sources are given below:
Currency: Jordanian
Dinars (JD)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales JD 770,000 JD 840,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Nareman Ibrahim Mohamed Abu
Fares, Proprietor.
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
Email : secretariat@arabbank.com.jo
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.27 |
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UK Pound |
1 |
Rs.86.28 |
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Euro |
1 |
Rs.68.24 |
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%)