MIRA
INFORM REPORT
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Report Date : |
05.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
IRAQI NATIONAL GENERAL TRADING CO |
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Registered Office : |
Telaa
Al Ali, Wasf Al Tal Street,
PO Box 4658, Amman 11953 |
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Country : |
Jordan |
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Date of Incorporation : |
18.11. 2007 |
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Com. Reg. No.: |
12648, Amman |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and Distribution of General Merchandise. |
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 : |
New and Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : IRAQI NATIONAL GENERAL TRADING CO
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 18th November 2007
Commercial Registration Number : 12648, Amman
Chamber Membership Number : 136734
Issued Capital : JD 200,000
Paid up Capital : JD 200,000
Total Workforce : 3
Activities : Import and distribution of general merchandise.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 50,000
COMPANY NAME
IRAQI NATIONAL
GENERAL TRADING CO
ADDRESS
Registered & Physical Address
Location : Telaa Al
Ali, Wasf Al Tal Street
PO Box : 4658
Town : Amman 11953
Country : Jordan
Telephone : (962-6) 5694131
/ 5515451
Facsimile : (962-6) 5695232
/ 5515459
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Amman.
KEY PRINCIPALS
Name Nationality Position
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Sohaib
Mohamed Abdullah Jordanian Managing Director
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Mostafa
Mohamed Abdullah Iraqi Director
LEGAL FORM & OWNERS
Date of Establishment : 18th
November 2007
Legal Form :
Limited Liability Company
Commercial Reg. No. : 12648, Amman
Chamber Member No. : 136734
Issued Capital : JD 200,000
Paid up Capital : JD 200,000
Name of Shareholder (s)
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Sohaib
Mohamed Abdullah
·
Mostafa
Mohamed Abdullah
OPERATIONS
Activities: Engaged in the import and distribution of
general merchandise.
Import
Countries: India and Europe
Subject has a
workforce of 3 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
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
Investigations
undertaken in Amman did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
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%)