MIRA
INFORM REPORT
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Report Date : |
05.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
MEDITERRANEAN
ADVANCED TECHNICAL INDUSTRIES COMPANY LTD |
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Registered Office : |
Omar Albasser Alkhselat Street, Al Muqablain-851 498, Amman 11185 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
28.05.1997 |
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Com. Reg. No.: |
4890, Amman |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of PVC Compounds, Sheets, Pipes and Granules. |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : MEDITERRANEAN
ADVANCED TECHNICAL INDUSTRIES
COMPANY LTD
Country of Origin : Jordan
Legal Form :
Limited Liability Company
Registration Date : 28th
May 1997
Commercial
Registration Number : 4890,
Amman
Issued Capital : JD
200,000
Paid up Capital : JD
200,000
Total Workforce : 30
Line of Business :
Manufacturers of PVC compounds, sheets, pipes and granules.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
MEDITERRANEAN ADVANCED
TECHNICAL INDUSTRIES COMPANY LTD
ADDRESS
Registered & Physical Address
Street :
Omar Albasser Alkhselat Street
Area :
Al Muqablain
PO Box :
851498
Town :
Amman 11185
Country :
Jordan
Telephone :
(962-6) 4200371
Facsimile :
(962-6) 4200184
Email :
contact@med-int.net
Premises
Subject operates
from a small suite of offices that are owned and located in the Central
Business Area of Amman.
Branch Office
(s)
Location Description
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King Abdullah
II Industrial Estate Owned
factory premises
Sahab
Tel : (962-6) 4027682
Fax : (962-6) 4027683
KEY PRINCIPALS
·
Mamoun Rafiq
Abu Dahab Managing
Director
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Mohannad Rafiq
Abu Dahab Director
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Rafiq Mahmoud
Abu Dahab Director
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Noor Eddin
Belbeisi Administration
Manager
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Ahmad Al Said Finance
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 28th May 1997
Legal Form : Sharikat Thet Massouliya Mahdoudeh (Limited Liability
Company)
Commercial Reg.
No. : 4890, Amman
Issued Capital : JD 200,000
Paid up Capital :
JD 200,000
Name of Shareholder (s) Percentage
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Rafiq Mahmoud
Abu Dahab 70%
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Mamoun Rafiq
Abu Dahab 15%
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Mohannad Rafiq
Abu Dahab 15%
Note to the Legal Form
A Limited Liability Company is defined in the Company Law as a company incorporated with a minimum of two and maximum of fifty shareholders, each responsible only for the liabilities of the company to the extent of their share participation in the capital of the company.
LINE OF BUSINESS
Operations : Engaged in the manufacture of PVC
compounds, sheets, pipes and granules.
Import Countries : France and Germany.
Export Countries : Saudi Arabia, Syria, Morocco, Egypt and
Lebanon.
Operating Trend : Steady
Subject has a
workforce of 30 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency :
Jordanian Dinars (JD)
Year
Ending 31/12/05 : Year Ending 31/12/06 :
Total Revenue JD 1,559,800 JD
1,572,240
Total Assets JD 1,418,000 JD
1,276,200
Stock JD 226,880 JD 231,760
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Export &
Finance Bank
Shmeisani
Amman
Tel : (962-6) 5694250
Fax : (962-6) 5692062
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1997, subject is involved in the manufacture of PVC compounds, sheets, pipes and
granules.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the business is deemed a fair trade risk.
Maximum suggested
credit figure: US$ 100,000
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%)