MIRA
INFORM REPORT
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Report Date : |
05.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
KHARMA TRADING AND IMPORTING CO |
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Registered Office : |
Abu Mayaleh Building, Ras El Ein Street, PO Box 510260, Amman 11151 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
04.01.1978 |
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Com. Reg. No.: |
3088, Amman |
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Legal Form : |
General Partnership |
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Line of Business : |
Distributors of Building Materials, Sanitary Ware Products,
Marble, Porcelain and Granite, Tiles and Ceramics, Central Heating Systems,
Industrial Machinery and Equipment. |
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$ 275,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : KHARMA TRADING AND IMPORTING CO
Country of Origin : Jordan
Legal Form : General Partnership
Registration Date : 4th January 1978
Commercial Registration Number : 3088, Amman
Chamber Membership Number : 6256
Partners Capital : JD 50,000
Total Workforce : 25
Activities : Distributors of building materials, sanitary ware products, marble, porcelain and granite, tiles and ceramics, central heating systems, industrial machinery and equipment.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 275,000
COMPANY NAME
KHARMA TRADING AND IMPORTING CO
ADDRESS
Registered & Physical Address
Building : Abu Mayaleh
Building
Street : Ras El Ein
Street
PO Box : 510260
Town : Amman 11151
Country : Jordan
Telephone : (962-6) 4778531
/ 4778927
Facsimile : (962-6)
4778530
Mobile : (962-79)
5207888
Email : kharmaco@wanadoo.jo
Premises
Subject operates from a small suite of offices, a warehouse and a
showroom that are rented and located in the Central Business Area of Amman.
Branch Office (s)
Subject has showroom premises located in Al Aqaba
City and Khalada Area.
KEY PRINCIPALS
Name Position
· Ahmed Hajo Kharma Managing
Partner
· Mohamed Hajo
Kharma Partner
· Jihad Ahmed Hajo
Kharma General
Manager
· Abdulaziz Kharma Commercial
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 4th
January 1978
Legal Form : General Partnership
Commercial Reg.
No. : 3088, Amman
Chamber Member No. : 6256
Partners Capital : JD 50,000
Name of Partners (s)
· Ahmed Hajo Kharma
· Mohamed Hajo
Kharma
OPERATIONS
Activities: Engaged in the import, distribution and retail of building materials,
sanitary ware products, marble,
porcelain and granite, tiles and ceramics,
central heating systems, industrial machinery and equipment.
Import Countries: Italy, Spain, Germany, Turkey the United Kingdom
and France
International Suppliers:
· Viba Spain
· Maria Spain
· Tipsa Spain
· Gomez Spain
· Italgres Spain
· Simas Italy
· Thermotechnic Turkey
Operating Trend: Steady
Subject has a workforce of 25 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
2,000,000 JD
2,300,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Arab Islamic International Bank
PO Box : 950544
Amman 11194
Tel : (962-6)
5607231
Fax : (962-6)
5606830
·
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.
Date of
transaction March 1999 August 2003
Credit amount 200,000 150,000
Amount overdue 0 0
Payment terms 90
days 60
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency US
Dollars Euros
GENERAL COMMENTS
Established in 1978, subject is involved in the import, distribution and
retail of building materials, sanitary ware products, marble, porcelain and
granite, tiles and ceramics, central heating systems, industrial machinery and
equipment and deals with a number of reputable international suppliers.
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.18 |
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UK Pound |
1 |
Rs.75.05 |
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Euro |
1 |
Rs.60.89 |
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%)