MIRA
INFORM REPORT
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Report Date : |
13.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
HAIDAR ARAFAT TRADING CO |
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Registered Office : |
Souk Al Sukkar, PO Box 1411, 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 : |
07.04.1952 |
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Com. Reg. No.: |
652 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and distribution of general foodstuff |
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 : HAIDAR ARAFAT TRADING CO
Country of Origin : Jordan
Legal Form : Limited Liability Partnership
Registration Date : 7th April 1952
Commercial Registration Number : 652
Chamber Membership Number : 1608
Issued Capital : JD 6,100
Paid up Capital : JD 6,100
Total Workforce : 5
Activities : Import and distribution of general foodstuff
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
HAIDAR ARAFAT TRADING CO
ADDRESS
Registered &
Physical Address
Location : Souk Al
Sukkar
PO Box : 1411
Town : Amman 11118
Country : Jordan
Telephone : (962-6) 4623483
/ 4628290
Facsimile : (962-6)
4612745
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
Nabhan Zaidan Arafat Managing
Partner
Bilal Adri Arafat Partner
Bashar Adri Arafat Partner
LEGAL FORM & OWNERS
Date of Establishment : 7th
April 1952
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 652
Chamber Member No. : 1608
Issued Capital : JD 6,100
Paid up Capital : JD 6,100
Name of Partners
(s)
Nabhan Zaidan Arafat
Bilal Adri Arafat
Bashar Adri Arafat
OPERATIONS
Activities: Engaged in the import and distribution of general foodstuff.
Import Countries: Turkey and Greece
Operating Trend: Steady
Subject has a workforce of 5 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
2,100,000 JD
2,400,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
Bank of Jordan Ltd
Jebel Amman
PO Box : 2140
Amman
Tel : (962-6) 642034
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 and
the above credit figure is within subject’s financial means.
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%)