MIRA
INFORM REPORT
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Report Date : |
10.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
BASHITI STORES FOR GENERAL SUPPLIES |
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Registered Office : |
Abu Alanda, PO
Box 620103, Amman 11162 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
24.05.1993 |
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Com. Reg. No.: |
46157, Amman |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and Distribution of Building Materials, Tools and Hardware Products |
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 : BASHITI STORES FOR GENERAL SUPPLIES
Country of Origin : Jordan
Legal Form : Limited Liability Partnership
Registration Date : 24th May 1993
Commercial Registration Number : 46157, Amman
Chamber Membership Number : 5011
Issued Capital : JD 10,000
Paid up Capital : JD 10,000
Total Workforce : 15
Activities : Import and distribution of building materials, tools and hardware products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Mofid Fazi Al Bashiti, General Manager
COMPANY NAME
BASHITI
STORES FOR GENERAL SUPPLIES
ADDRESS
Registered & Physical Address
Location : Abu Alanda
PO Box : 620103
Town : Amman 11162
Country : Jordan
Telephone : (962-6) 4759043
Facsimile : (962-6) 4759044
Email : bashiti@bashitistores.com
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Amman.
KEY PRINCIPALS
Name Position
·
Faiz
Al Bashiti Managing
Partner
·
Maha
Mohamed Fahmi Partner
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Keya
Abdullatif Partner
·
Thamer
Al Alami Partner
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Mofid
Fazi Al Bashiti General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 24th
May 1993
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 46157, Amman
Chamber Member No. : 5011
Issued Capital : JD 10,000
Paid up Capital : JD 10,000
Name of Partner (s)
·
Faiz
Al Bashiti
·
Maha
Mohamed Fahmi
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Keya
Abdullatif
·
Thamer
Al Alami
OPERATIONS
Activities: Engaged in the import and distribution of
building materials, tools and hardware products.
Import
Countries: United Kingdom,
Italy, France, China and India
Brand Names: STANLEY, YALE, DEWALT, CONAIR, KEW,
CAMPINGAZ, & EMPOI
Operating Trend: Steady
Subject has a
workforce of 15 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 1,370,000 JD 1,800,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
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
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.72 |
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UK Pound |
1 |
Rs.82.17 |
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Euro |
1 |
Rs.65.90 |
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%)