MIRA
INFORM REPORT
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Report Date : |
10.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
WALID HANI HADDAD & PARTNERS CO |
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Registered Office : |
Jebel Al Nazeef Area, PO Box
151265, Amman 11115 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
03.01.1987 |
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Com. Reg. No.: |
7597, Amman |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of Agricultural Tools, Yarns, Adhesives, Jute
Bags, Ropes and Plastic Rolls. |
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 : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : WALID HANI HADDAD & PARTNERS CO
Country of Origin : Jordan
Legal Form : Limited Liability Partnership
Registration Date : 3rd January 1987
Commercial Registration Number : 7597, Amman
Membership Number : 17764
Issued Capital : JD 10,000
Paid up Capital : JD 10,000
Total Workforce : 7
Line of Business : Distributors of agricultural tools, yarns, adhesives,
jute bags, ropes and plastic rolls.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
WALID HANI HADDAD & PARTNERS CO
ADDRESS
Registered & Physical Address
Location : Jebel Al
Nazeef Area
PO Box : 151265
Town : Amman 11115
Country : Jordan
Telephone : (962-6) 4742508
Facsimile : (962-6)
5539066 / 4730066
Email : lanhaddad@yahoo.com
Premises
Subject operates from a small suite of offices and a warehouse that are
owned and located in the Central Business Area of Amman.
KEY PRINCIPALS
·
Walid Hani Yousef Haddad Managing
Partner
·
Wael Hani Yousef Haddad Partner
LEGAL FORM & OWNERS
Date of
Establishment : 3rd
January 1987
Legal Form : Sharikat Tadhamum
Bill Asshum (Limited Liability Partnership)
Commercial Reg.
No. : 7597, Amman
Membership No. : 17764
Issued Capital : JD 10,000
Paid up Capital : JD 10,000
Name of Partner (s)
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Walid Hani Yousef Haddad
·
Wael Hani Yousef Haddad
Note to the Legal
Form
A Limited Liability Partnership in Jordan is formed by at least one general partner and one limited partner. The total number of partners must not exceed twenty. The general partners assume unlimited personal liability for the debt of the partnership jointly and severally amongst themselves. The liability of the limited partners for the debt of the partnership is limited to their contributions to the capital of the partnership.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
agricultural tools, yarns, adhesives,
jute bags, ropes and plastic rolls.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 7 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
1,210,000 JD
1,350,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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Jordan National Bank
Jabal Amman Branch
PO Box : 1578
Amman 11118
Tel : (962-6) 5642391
Fax : (962-6)
5628809
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of transaction November
2006
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
GENERAL COMMENTS
Established in 1987, subject is involved in the import and distribution
of agricultural tools, yarns, adhesives, jute bags, ropes and plastic rolls.
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$ 150,000
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%)