MIRA
INFORM REPORT
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Report Date : |
03.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
TASCO TRADING COMPANY |
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Registered Office : |
Souq
Al Soukar, Al Balad Area, PO
Box 182311, Amman 11118 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
08.07.1998 |
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Com. Reg. No.: |
50200 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Wholesale and Retail of Textiles,
Fabrics and Ready Made Garments |
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$ 120,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : TASCO TRADING COMPANY
Country of Origin : Jordan
Legal Form : Limited Liability Partnership
Registration Date : 8th July 1998
Commercial Registration Number : 50200
Chamber Membership Number : 2624
Issued Capital : JD 8,000
Paid up Capital : JD 8,000
Total Workforce : 4
Activities : Wholesale and retail of textiles, fabrics and ready made garments
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 120,000
COMPANY NAME
TASCO TRADING
COMPANY
ADDRESS
Registered & Physical Address
Location : Souq Al
Soukar, Al Balad Area
PO Box : 182311
Town : Amman 11118
Country : Jordan
Telephone : (962-6) 4656061 / 4622871
Facsimile : (962-6) 4632980
Premises
Subject operates from
a small suite of offices and a showroom that are rented and located in the
Central Business Area of Amman.
KEY PRINCIPALS
Name Position
·
Mohamed
Saeed Saad Al Saifi Managing
Partner
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Thamer
Saadi Abdullah Al Saifi Partner
·
Mohamed
Bashar Saadi Abdullah Al Saifi Partner
·
Mohamed
Salem Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 8th
July 1998
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 50200
Chamber Member No. : 2624
Issued Capital : JD 8,000
Paid up Capital : JD 8,000
Name of Partner (s)
·
Mohamed
Saeed Saad Al Saifi
·
Thamer
Saadi Abdullah Al Saifi
·
Mohamed
Bashar Saadi Abdullah Al Saifi
OPERATIONS
Activities: Engaged in the wholesale and retail of textiles, fabrics and ready made garments.
Import
Countries: Turkey, Italy,
China and India
Operating Trend: Steady
Subject has a
workforce of 4 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 760,000 JD 880,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
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 company
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.43.34 |
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UK Pound |
1 |
Rs.86.53 |
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Euro |
1 |
Rs.68.54 |
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%)