MIRA INFORM REPORT

 

 

 

Report Date :

30.09.2008

 

IDENTIFICATION DETAILS

 

Name :

WALEED AYOUB ALI AND PARTNERS

 

 

Registered Office :

Jobara Building, Ground Floor, Wasef Al Tal Street, PO Box 2841, Amman 11953

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2007

 

 

Date of Incorporation :

24th April 2005

 

 

Com. Reg. No.:

11321

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Import and Distribution of General Foodstuff, Raw Materials and Chemicals

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 150,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

SUMMARY

 

Company Name                                     : WALEED AYOUB ALI AND PARTNERS

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 24th April 2005

Commercial Registration Number            : 11321

Chamber Membership Number                : 116902

Issued Capital                                        : JD 400,000

Paid up Capital                                      : JD 400,000

Total Workforce                         : 10

Activities                                               : Import and distribution of general foodstuff, raw materials and chemicals

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Recommended Credit Limit                     : US$ 150,000

Person Interviewed                                 : Rayan Waleed Ayoub Ali, Partner

 

 

 

 

 

COMPANY NAME

 

WALEED AYOUB ALI AND PARTNERS

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Jobara Building, Ground Floor

Street               : Wasef Al Tal Street

PO Box             : 2841

Town                 : Amman 11953

Country : Jordan

Telephone         : (962-6) 5530526

Facsimile          : (962-6) 5515735

 

Premises

 

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Amman.

 

 

KEY PRINCIPALS

 

     Name                                                           Nationality                     Position

 

·       Waleed Ayoub Ali                                         Iraqi                              Managing Partner

 

·       Neshwan Waleed Ayoub Ali                           Iraqi                              Partner

 

·       Rayan Waleed Ayoub Ali                               Iraqi                              Partner

 

·       Nabil Abdul Fattah Jarrad                               Jordanian                      Partner

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 24th April 2005

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 11321

 

Chamber Member No. : 116902

 

Issued Capital              : JD 400,000

 

Paid up Capital            : JD 400,000

 

Name of Partner (s)

 

·       Waleed Ayoub Ali

 

·       Neshwan Waleed Ayoub Ali

 

·       Rayan Waleed Ayoub Ali

 

·       Nabil Abdul Fattah Jarrad

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of general foodstuff, raw materials and chemicals.

 

Import Countries: India, Europe and China

 

Operating Trend: Steady

 

Subject has a workforce of 10 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 1,100,000                             JD 1,400,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Arab 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 company is considered to be a fair trade risk and the above credit figure is within subject’s financial means.

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.94

UK Pound

1

Rs.85.57

Euro

1

Rs.67.79

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions