MIRA
INFORM REPORT
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Report Date : |
10.03.2008 |
IDENTIFICATION
DETAILS
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Correct Name : |
SALAITA
TRADING CO |
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Registered Office : |
Commercial Centre, Quraish Street,
PO Box 6997, 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 : |
1970 |
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Com. Reg. No.: |
24903, Amman |
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Legal Form : |
General
Partnership |
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Line of Business : |
Import and
Distribution of General Foodstuff Products |
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 : |
Usually Correct |
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Litigation : |
Clear |
SUMMARY
Company Name : SALAITA TRADING CO
Country of Origin : Jordan
Legal Form :
General Partnership
Registration Date : 1970
Commercial
Registration Number : 24903,
Amman
Membership Number : 32199
Partners Capital : JD 2,000
Total Workforce : 5
Line of Business : Import and
distribution of general foodstuff products
Financial Condition : Fair
Payments : Nothing
detrimental uncovered
Operating Trend : Steady
COMPANY NAME
SALAITA TRADING CO
ADDRESS
Registered & Physical Address
Building : Commercial Centre
Street : Quraish Street
PO Box : 6997
Town : Amman 11118
Country : Jordan
Telephone : (962-6) 4630118 / 4616118 / 4649617
Facsimile : (962-6) 4634018
Email : salaita@wanadoo.jo
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Amman.
KEY PRINCIPALS
· Nael
Ibrahim Gabreil Al Salaita Managing
Partner
· Rolla
Al Salaita Partner
· Khalil
Ibrahim Radi General
Manager
LEGAL FORM & OWNERS
Date of
Establishment : Subject’s operations
date back to 1970, however it was registered
on 12th
March 1991
Legal Form : Sharikat Al
Tadhamun (General Partnership)
Commercial Reg.
No. : 24903, Amman
Membership No. : 32199
Partners Capital : JD 2,000
Name of Partner (s)
· Nael Ibrahim
Gabreil Al Salaita
· Rolla
Al Salaita
Note to the Legal
Form
A General
Partnership in Jordan may be formed by a minimum of two and a maximum of twenty
natural persons. The partners assume unlimited personal liability for the debt
of the partnership jointly and severally amongst themselves. Creditors may
claim the debts from either the company as a separate legal entity or from the
general partners. Each partner is entitled to take part in the management of
the partnership, although the partnership agreement normally provides for its
authorised representative and signatory.
There are no legal requirements concerning the amount of capital of a general partnership. The shares of each partner, presented in cash, kind or rights, must not be issued in the form of negotiable instruments, nor can they be transferred or assigned without the unanimous approval of the partners unless the memorandum specifically provides otherwise.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of general foodstuff products,
specialising in coffee, tea, rice, nuts, spices, seeds and
canned foods.
Import Countries : India, Africa and Europe.
Operating Trend : Steady
Subject has a workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Jordanian Dinars (JD)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Sales JD
880,000 JD
925,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
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 business is considered to be 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%)