MIRA
INFORM REPORT
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Report Date : |
15.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
GENUINE TOOLS AND EQUIPMENT LLC |
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Registered Office : |
Al
Mqablin Area, PO Box 926933 & 783,
Amman 11190 |
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Country : |
Jordan |
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Date of Incorporation : |
2.05. 2007 |
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Com. Reg. No.: |
14336, Amman |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and Distribution of Hardware
and Tools, as well as Welding Equipment. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 50,000 |
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Status : |
New and Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : GENUINE TOOLS AND EQUIPMENT LLC
Country of Origin : Jordan
Legal Form : Limited Liability Partnership
Registration Date : 22nd May 2007
Commercial Registration Number : 14336, Amman
Chamber Membership Number : 137400
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
Total Workforce : 3
Activities : Import and distribution of hardware and tools, as well as welding equipment.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 50,000
COMPANY NAME
GENUINE TOOLS AND
EQUIPMENT LLC
ADDRESS
Registered & Physical Address
Location : Al
Mqablin Area
PO Box : 926933
& 783
Town : Amman 11190
Country : Jordan
Telephone : (962-6) 5667047
Facsimile : (962-6) 5657246
Mobile :
(962-77) 834223
Email : abuyaghi@index.com.jo
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Suburban Business Area of Amman.
KEY PRINCIPALS
Name Position
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Basim
Elias Abu Yaghi Managing
Partner
LEGAL FORM & OWNERS
Date of Establishment : 22nd
May 2007
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 14336, Amman
Chamber Member No. : 137400
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
Name of Partner (s) Percentage
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Basim
Elias Abu Yaghi 100%
OPERATIONS
Activities: Engaged in the import and distribution of hardware and tools, as well as welding equipment.
Import
Countries: Germany, Spain
and the United Arab Emirates
International
Suppliers:
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Bessey Tool
GmbH & Co KG Germany
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Stayer Spain
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Stanley
Tools Dubai,
United Arab Emirates
Subject has a
workforce of 3 employees.
FINANCIAL DATA
Subject is a newly formed
business and as a result financial information is not currently available.
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
Genuine Tools And
Equipment LLC is a newly established business with operations commencing in May
2007. It is engaged in the import and distribution of hardware
and tools, as well as welding equipment.
According to local
sources subject is making steady progress in the local business market and
nothing detrimental has been reported regarding the manner in which payments
are fulfilled. As such the business is considered to be a fair trade risk,
however a measure of caution would be prudent given the lack of financial and
payment due to the short operating history.
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%)