MIRA INFORM
REPORT
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Report Date : |
22.04.2011 |
IDENTIFICATION DETAILS
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Name : |
PETRA FOOD INDUSTRIES COMPANY LTD |
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Registered Office : |
King Abdullah II Industrial
Estate, P O Box 161,: Amman 11512 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
01.02.1993 |
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Com. Reg. No.: |
2597, Amman |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of chips and vermicelli |
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 |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
Jordan |
b1 |
b1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : PETRA FOOD INDUSTRIES COMPANY LTD
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 1st February 1993
Commercial Registration Number : 2597, Amman
Chamber Membership Number : 6757
Issued Capital : JD 100,000
Paid up Capital : JD 100,000
Total Workforce : 120
Activities : Manufacture of chips and vermicelli.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY
NAME
PETRA FOOD
INDUSTRIES COMPANY LTD
company
ADDRESS
Registered & Physical
Address
Location : King Abdullah II Industrial Estate
PO Box : 161
Town : Amman 11512
Country : Jordan
Telephone : (962-6) 4022930 / 4023562
Facsimile : (962-6) 4022932
Email : cpd@petragroup.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are owned and located
in the Industrial Area of Amman.
KEY
PRINCIPALS
Name Position
·
Manhal
Naim Nassar Managing
Director
·
Naim M
Nassar Director
·
Riyadh
A. Ghanma General
Manager
·
Yacoob
Nassar Finance
Manager
·
Salah
Ayash Commercial
Manager
LEGAL
FORM & OWNERS
Date of Establishment : 1st
February 1993
Legal Form :
Limited Liability Company
Commercial Reg. No. : 2597, Amman
Chamber Member No. : 6757
Issued Capital : JD 100,000
Paid up Capital : JD 100,000
Name of Shareholder (s)
·
Manhal
Naim Nassar
·
Naim M
Nassar
AFFILIATED
COMPANIES
·
Petra
Trading & Investment
Amman
Jordan
OPERATIONS
Activities: Engaged in the manufacture of chips and
vermicelli.
Import
Countries: Europe and GCC
countries.
Operating Trend: Steady
Subject has a
workforce of approximately 120 employees.
FINANCIAL
DATA
Financial highlights
provided by local sources are given below:
Currency: Jordanian
Dinars (JD)
Year
Ending 31/12/09: Year Ending
31/12/10:
Total sales JD 4,800,000 JD 5,175,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
HSBC
Bank Middle East
Khalid Bin Walid Street
Jebel Hussein
PO Box: 925286
Amman
Tel: (962-6) 5660471 / 5607471
Fax: (962-6) 5692964
PAYMENT
HISTORY
No complaints regarding
subject’s payments have been reported.
Date of transaction May
2006 May
2008
Credit amount 17,000 150,000
Amount overdue 0 0
Payment terms 60
days 60
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency Pounds
Sterling US
Dollars
GENERAL
COMMENTS
Established in
1993, subject is owned and managed by Mr Manhal Naim Nassar and Mr Naim M
Nassar who are both well respected in the local business community.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk and
the above credit figure is considered to be within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.33 |
|
|
1 |
Rs.72.92 |
|
Euro |
1 |
Rs.64.69 |
RATING EXPLANATIONS
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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 |
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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 |
|
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 |
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26-40 |
B |
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.