MIRA
INFORM REPORT
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Report Date : |
22.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
KALHA HOME FABRICS |
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Registered Office : |
Al
Neimat Commercial Complex, Mecca Street, PO Box 851704,
Amman 11185 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
21.01.2003 |
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Com. Reg. No.: |
65767,
Amman |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Importers and Retailers of Fabrics,
Upholstery Materials and Curtains |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : KALHA HOME FABRICS
Also Known As : ZAKI KALHA AND SONS COMPANY
Country of Origin : Jordan
Legal Form : Limited Liability Partnership
Registration Date : 21st January 2003
Commercial Registration Number : 65767, Amman
Issued Capital : JD 5,000
Paid up Capital : JD 5,000
Total Workforce : 20
Activities : Importers and retailers of fabrics, upholstery materials and curtains.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
COMPANY NAME
KALHA
HOME FABRICS
ALSO KNOWN AS
ZAKI
KALHA AND SONS COMPANY
ADDRESS
Registered & Physical Address
Building : Al
Neimat Commercial Complex
Street : Mecca
Street
PO Box : 851704
Town : Amman 11185
Country : Jordan
Telephone : (962-6) 5816164
Facsimile : (962-6) 5821911
Email : info@kalha.com
Premises
Subject operates
from a suite of offices and a showroom covering an area of 1,900 square metres
that are rented and located in the Central Business Area of Amman.
Branch Office
(s)
Location Description
·
Sweifieh
Area Owned
warehouse covering an area of
Amman 220 square metres
KEY PRINCIPALS
Name Nationality Position
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Zaki
Naim Al Kalha Jordanian Managing Partner
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Naim
Zaki Al Kalha Jordanian Partner
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Mohamed
Zaki Al Kalha Jordanian Partner
LEGAL FORM & OWNERS
Date of Establishment : 21st
January 2003
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 65767,
Amman
Issued Capital : JD 5,000
Paid up Capital : JD 5,000
Name of Partner (s) Percentage
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Zaki
Naim Al Kalha 60%
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Naim
Zaki Al Kalha 20%
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Mohamed
Zaki Al Kalha 20%
OPERATIONS
Activities: Engaged in the import
and retail of fabrics, upholstery materials and curtains.
Import
Countries: Italy, Spain, Germany, Turkey, France, Belgium and India.
International
Suppliers:
·
Pierre
Cardin Germany
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Elvo Germany
Operating Trend: Steady
Subject has a workforce
of 20 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 850,000 JD 1,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were provided by Mr Mohamed Zaki Al Kalha.
BANKERS
·
Arab
Bank Plc
PO Box 68
Amman
Tel: (962-6) 4638161
Fax: (962-6)
4637082
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Kalha
Home Fabrics was established in 2003 and has made steady progress in the local
market specialising in the import and retail of fabrics, upholstery materials and
curtains.
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.40 |
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UK Pound |
1 |
Rs.83.15 |
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Euro |
1 |
Rs.65.74 |
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%)