MIRA INFORM REPORT

 

 

Report Date :

17.08.2011

 

IDENTIFICATION DETAILS

 

Name :

THIMAR MANUFACTURING CHEMICAL & AGRICULTURAL MANURE

 

 

Registered Office :

Paris Complex Princess Taghreed Street Sweifiyeh PO Box 620215 Amman 11162

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1990

 

 

Com. Reg. No.:

51639, Amman

 

 

Legal Form :

General Partnership

 

 

Line of Business :

Manufacture of fertilizers, pesticides and related chemicals

 

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$ 500,000

Status :

Satisfactory

Payment Behaviour :

Usually Correct

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

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                                     : THIMAR MANUFACTURING CHEMICAL & AGRICULTURAL MANURE

Country of Origin                                    : Jordan

Legal Form                                            : General Partnership

Start Date                                             : 1990

Registration Date                                   : 16th January 1999

Commercial Registration Number            : 51639, Amman

Chamber Membership Number                : 16760

National ID Number                                : 200078683

Partners Capital                                     : JD 50,000

Total Workforce                                     : 45

Activities                                               : Manufacture of fertilizers, pesticides and related chemicals

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Recommended Credit Limit                     : US$ 500,000

Person Interviewed                                 : Talal Mallouh Nazzal Tumah Issa, Partner

COMPANY NAME

 

THIMAR MANUFACTURING CHEMICAL & AGRICULTURAL MANURE

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Paris Complex

Street               : Princess Taghreed Street

Area                 : Sweifiyeh

 

PO Box             : 620215

 

Town                 : Amman 11162

Country             : Jordan

 

Telephone         : (962-6) 5854379

Facsimile          : (962-6) 5854379

Mobile               : (962-77) 7772444

Email                : info@thimar-jo.com / talal_al_essa@yahoo.com

 

Premises

 

Subject operates from a medium sized suite of offices that are rented and located in the Central Business Area of Amman.

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       Al Qastal Area                                                                                  Factory premises

PO Box: 142595

     Amman 11844

     Tel: (962-6) 4711290 / 4711293

     Fax: (962-6) 4711293

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Mallouh Nazzal Tumah Al Issa                                                           Managing Partner

 

·       Shaker Mallouh Nazzal Al Issa                                                           Partner

 

·       Talal Mallouh Nazzal Tumah Issa                                                        Partner

 

·       Mohamed Mallouh Nazzal Tumah Issa                                                Partner

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : Subject’s operations date back to 1990, however it was registered on 16th January 1999

 

Legal Form                  : General Partnership

 

Commercial Reg. No.  : 51639, Amman

 

Chamber Member No. : 16760

 

National ID No.            : 200078683

 

Partners Capital           : JD 50,000

 

Name of Partners (s)

 

·       Mallouh Nazzal Tumah Al Issa

 

·       Shaker Mallouh Nazzal Al Issa

 

·       Talal Mallouh Nazzal Tumah Issa

 

·       Mohamed Mallouh Nazzal Tumah Issa

 

 

AFFILIATED COMPANIES

 

·       Mallouh Al Issa & Sons Co

Amman

 

·       Thimar Garden Center Co

Amman

 

·       Mallouh Farms

Amman

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of fertilizers, pesticides and related chemicals.

 

Import Countries: Europe, China and the United States of America

 

Agencies Held:

 

·       Haifa Chemicals                    Israel

·       Rotem Amfert                       Israel

·       Claber Italia                          Italy

·       Fito                                      Spain

·       D K Golines                          Germany

·       SBA Berlite                          Greece

·       Duclous                                France

·       Fertimate                              Belgium

 

Export Countries: Morocco, Egypt, Lebanon, Syria, Israel and Kuwait

 

Brand Names: THIMAR

 

Operating Trend: Steady

 

Subject has a workforce of 45 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 10,000,000                           JD 11,125,000

 

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

 

The above figures were provided by Mr Talal Mallouh Nazzal Tumah Issa, Partner

 

 

BANKERS

 

·       Bank of Jordan Ltd

King Hussain Street

PO Box: 37

Amman

Tel: (962-6) 5630301

Fax: (962-6) 5638889

 

·       Arab Bank Plc

Shmeisani Branch

PO Box: 950545 & 950544

Amman 11195

Tel: (962-6) 5607231 / 5607115

Fax: (962-6) 5606793 / 5606830

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              April 2007

Credit amount                                        150,000

Amount overdue                         0

Payment terms                                      60 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               US Dollars

 

 

GENERAL COMMENTS

 

Established in 1999, subject is involved in the manufacture of fertilizers and pesticides.

 

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.45.27

UK Pound

1

Rs.73.88

Euro

1

Rs.65.06

 

 

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.