MIRA
INFORM REPORT
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Report Date : |
25.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
CORPORATE FOODSTUFF TRADING COMPANY |
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Registered Office : |
Tariq
Street, Al Tariq Area, PO Box 910929, Amman 11158 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
27.07.2002 |
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Com. Reg. No.: |
62568, Amman |
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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$ 225,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : CORPORATE FOODSTUFF TRADING COMPANY
Country of Origin : Jordan
Legal Form : Limited Liability Partnership
Registration Date : 27th July 2002
Commercial Registration Number : 62568, Amman
Chamber Membership Number : 94970
Issued Capital : JD 15,000
Paid up Capital : JD 15,000
Total Workforce : 5
Activities : Import and distribution of general foodstuff
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 225,000
COMPANY NAME
CORPORATE FOODSTUFF
TRADING COMPANY
ADDRESS
Registered & Physical Address
Street : Tariq
Street
Area : Al
Tariq Area
PO Box : 910929
Town : Amman
11158
Country : Jordan
Telephone : (962-6) 5064010
Facsimile : (962-6) 5062003
Email : modiab@jawab.com
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
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Diab
Mohamed Fathi Malahmeh Managing
Partner
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Fouzi
Al Shouaibi Partner
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Mohamed
Fathi Malahmeh General
Manager
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Ms
Samer Samoura Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 27th
July 2002
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 62568, Amman
Chamber Member No. : 94970
Issued Capital : JD 15,000
Paid up Capital : JD 15,000
Name of Partner (s)
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Diab
Mohamed Fathi Malahmeh
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Fouzi
Al Shouaibi
OPERATIONS
Activities: Engaged in the import
and distribution of general foodstuff, including rice, edible oils and tomato
paste.
Import
Countries: India
Brand Names: SHIHAN
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 3,110,000 JD 3,400,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Ms Samer Samoura,
Commercial Manager.
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 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%)