MIRA
INFORM REPORT
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Report Date : |
10.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
IZHIMAN GLOBAL TRADE & INVESTMENT GROUP |
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Registered Office : |
Building 34, Mahmoud
Al Mousa Street, Al Sofiya Area, PO Box 815333, Amman 11180 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
06.01.1992 |
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Com. Reg. No.: |
67132, Amman |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Distribution of Roasted
Coffee, Cocoa, Tea, Spices and Herbs |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : IZHIMAN GLOBAL TRADE & INVESTMENT GROUP
Country of Origin : Jordan
Legal Form : Sole Proprietorship
Registration Date : 6th January 1992
Commercial Registration Number : 67132, Amman
Chamber Membership Number : 37245
Invested Capital : JD 30,000
Total Workforce : 60
Activities : Import and distribution of roasted coffee, cocoa, tea, spices and herbs
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
IZHIMAN GLOBAL
TRADE & INVESTMENT GROUP
ADDRESS
Registered & Physical Address
Building : Building 34
Street : Mahmoud Al Mousa Street
Area : Al
Sofiya Area
PO Box : 815333
Town : Amman 11180
Country : Jordan
Telephone : (962-6) 5865156
Facsimile : (962-6) 5824254
Email : info@izhiman.com
Premises
Subject operates
from a medium sized suite of offices and a showroom with storage facilities
that are rented and located in the Central Business Area of Amman.
KEY PRINCIPALS
Name Position
·
Ishaq
Mostafa Khalid Izhiman Proprietor
& General Manager
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Husam
Abu Hejleh Administration
Manager
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Naser
Matooq Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 6th
January 1992
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 67132, Amman
Chamber Member No. : 37245
Invested Capital
: JD 30,000
Mr Ishaq Mostafa Khalid Izhiman is the sole proprietor
of the business.
OPERATIONS
Activities: Engaged in the import and distribution of roasted coffee, cocoa, tea, spices and herbs.
Import
Countries: India, Sri Lanka
and East Africa
Brand Names: IZHIMAN
Operating Trend: Steady
Subject has a
workforce of 60 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 3,800,000 JD 4,050,000
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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Jordan Islamic
Bank for Finance and Investment
PO Box 295
Tareq Branch
Amman 11947
Tel: (962-6) 5060548
Fax: (962-6) 5060436
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
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.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%)