MIRA
INFORM REPORT
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Report Date : |
07.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL HIZAM SPARE PARTS CO |
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Registered Office : |
Abu Alanda
Street, PO Box 850, Amman 11952 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
26.03.2006 |
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Com. Reg. No.: |
80194 |
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Legal Form : |
General Partnership |
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Line of Business : |
Import and Distribution of Truck
Spare Parts and Related Accessories |
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 : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL HIZAM SPARE PARTS CO
Also Known As : KHIDER ABDEEN & MAJDI AL JABARI
Country of Origin : Jordan
Legal Form : General Partnership
Registration Date : 26th March 2006
Commercial Registration Number : 80194
Chamber Membership Number : 123971
Partners Capital : JD 5,000
Total Workforce : 23
Activities : Import and distribution of truck spare parts and related accessories
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AL
HIZAM SPARE PARTS CO
ALSO
KNOWN AS:
KHIDER ABDEEN & MAJDI AL JABARI
ADDRESS
Registered & Physical Address
Location : Abu Alanda Street
PO Box : 850
Town : Amman
11952
Country : Jordan
Telephone : (962-6) 4170136
Facsimile : (962-6) 4170138
Mobile : (962-79) 9012076
Email : info@abdeen.com.jo
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Amman.
KEY PRINCIPALS
Name Position
·
Majdi
Talb Al Jabari Managing
Partner
·
Khider
Mohamed Abdeen Partner
·
Issa
Murshid Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 26th
March 2006
Legal Form :
General Partnership
Commercial Reg. No. : 80194
Chamber Member No. : 123971
Partners Capital : JD 5,000
Name of Partners (s)
·
Majdi
Talb Al Jabari
·
Khider
Mohamed Abdeen
AFFILIATED COMPANIES
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Middle
East Foundry
Amman
Jordan
OPERATIONS
Activities: Engaged in the import
and distribution of truck spare parts and related accessories.
Import Countries: Germany, Sweden and India
Brand Names: MERCEDES & MAN
Subject has a
workforce of 23 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Jordanian
Dinars (JD)
Year
Ending 31/12/07:
Total Sales JD
2,100,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Issa Murshid, Commercial
Manager.
BANKERS
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ANZ Grindlays
Bank
Shmeisani Branch
PO Box : 9997
Amman
Tel : (962-6) 4660201
Fax : (962-6) 4679115
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Al
Hizam Spare Parts Co is a
relatively new business with operations commencing in March 2006. It is engaged
in the import and distribution of truck spare parts
and related accessories.
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 and
the above credit figure is admissible.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.01 |
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UK Pound |
1 |
Rs.84.16 |
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Euro |
1 |
Rs.65.20 |
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%)