MIRA INFORM REPORT

 

 

Report Date :           

26.04.2011

 

IDENTIFICATION DETAILS

 

Name :

HALAWANI INDUSTRIAL COMPANY

 

 

Registered Office :

Al Mostandah Al Abdaliya Area, P O Box 215, Amman 11511

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

17.06.1981

 

 

Com. Reg. No.:

10072

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Manufacture of confectionery products, potato chips, corn chips and similar snacks

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 800,000

Status :

Satisfactory

Payment Behaviour :

No Complaints

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

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

sUMMARY

 

Company Name                                     : HALAWANI INDUSTRIAL COMPANY

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 17th June 1981

Commercial Registration Number            : 10072

Chamber Membership Number                : 742

National ID Number                                : 200000523

Issued Capital                                        : JD 300,000

Paid up Capital                                      : JD 300,000

Total Workforce                                     : 180

Activities                                               : Manufacture of confectionery products, potato chips, corn chips and

similar  snacks.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 800,000

 

 

COMPANY NAME

 

HALAWANI INDUSTRIAL COMPANY

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Al Mostandah Al Abdaliya Area

PO Box             : 215

Town                 : Amman 11511

Country             : Jordan

Telephone         : (962-6) 4021789 / 4021787 / 4027085

Facsimile          : (962-6) 4024198 / 4021789

Mobile               : (962-79) 5523244 / 5550685

Email                : info@hic.jo

 

Premises

Subject operates from a suite of offices, a factory and a warehouse covering an area of 40,000 square metres that are owned and located in the Industrial Area of Amman.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Al Abdali Area                                                                                   Rented sales office

Amman 11531

Tel: (962-6) 4024171

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Abdul Kareem Mohamed Abdul Wahab Al Halawani                             Managing Partner

 

·       Ashraf Abdul Kareem Mohamed Abdul Wahab Al Halawani                   General Manager

 

·       Othman Abdul Kareem Mohamed Abdul Wahab Al Halawani                 Commercial Manager

 

·       Tayseer Al Thalji                                                                               Sales Manager

 

·       Raed Abu Al Haiga                                                                            Marketing Manager

 

·       Fatima Al Mugrabi                                                                             Finance Manager

 

·       Ahmad Al Qannas                                                                             Plant Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 17th June 1981

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 10072

 

Chamber Member No. : 742

 

National ID No.            : 200000523

 

Issued Capital              : JD 300,000

 

Paid up Capital            : JD 300,000

 

Name of Partners                                                                      Percentage

 

·       Abdul Kareem Mohamed Abdul Wahab Al Halawani                    99.66%

 

·        Mrs. Ghada Adnan Haikal *                                                        0.34%

 

*    Mrs. Ghada Adnan Haikal is the wife of Abdul Kareem Mohamed Abdul Wahab Al Halawani

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of confectionery products, potato chips, corn chips and similar snacks.

 

Import Countries: Italy, Netherlands, United Kingdom, United States of America, Saudi Arabia, Lebanon, Syria,

                  Egypt and Sudan.

 

International Suppliers:

 

·       Continental Products Int'l                                           Netherlands

·       Codrico                                                                    Netherlands

·       Kerry Ltd                                                                  United Kingdom

·       Savoury Flavours Ltd                                     United Kingdom

·       Saudi Modern Packaging Co. Ltd                                Saudi Arabia

·       LEHA For Trading & Agricultural Marketing                  Saudi Arabia

·       Quest International                                                    Egypt

 

Export Countries: Yemen, Palestine, Iraq and GCC countries.

 

Brand Names: MY CHIPS, NICE and HALAWANI CHIPS

 

Operating Trend: Steady

 

Subject has a workforce of approximately 180 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 18,850,000                           JD 19,000,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Arab Banking Corporation

Shmeisani

     Amman

     Tel: (962-6) 5664183/5

     Fax: (962-6) 5686291

 

·       The Housing Bank For Trade & Finance

     Sahab Branch

     Tel: (962-6) 4021189 / 4023074

     Fax: (962-6) 4023811

 

·       Arab Bank Plc

     Wasfi Tal Street

     Amman

     Tel: (962-6) 5535922

     Fax: (962-6) 5536923

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

GENERAL COMMENTS

 

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.44.45

UK Pound

1

Rs.73.35

Euro

1

Rs.64.78

 

 

RATING EXPLANATIONS

 

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

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

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

----

NB

New Business

----

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.