MIRA INFORM REPORT

 

 

Report Date :           

09.12.2011

 

IDENTIFICATION DETAILS

 

Name :

AL KEENA HYGENIC PAPER MILL CO LTD

 

 

Registered Office :

Nuqul Industrial Complex, Jabal Amman, 3rd Circle, P O Box 154 & 1368, Amman 11118

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

23.06.1993

 

 

Com. Reg. No.:

3218, Amman

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of facial tissue, toilet paper, napkin paper, kitchen towel  and wet strength paper

 

 

No. of Employees :

180 persons

 

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$ 1,500,000

 

 

Status :

Good

 

 

Payment Behaviour :

No Complaints

 

 

noLitigation :

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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                                     : AL KEENA HYGENIC PAPER MILL CO LTD

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Company

Registration Date                                   : 23rd June 1993

Commercial Registration Number            : 3218, Amman

Chamber Membership Number                : 9887

National ID Number                                : 20007814

Issued Capital                                        : JD 5,564,000

Paid up Capital                                      : JD 5,564,000

Total Workforce                                     : 180

Activities                                               : Manufacture of facial tissue, toilet paper, napkin paper, kitchen towel

and wet strength paper.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 1,500,000

COMPANY NAME

 

AL KEENA HYGENIC PAPER MILL CO LTD

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Nuqul Industrial Complex

Location            : Jabal Amman, 3rd Circle

PO Box             : 154 & 1368

Town                 : Amman 11118

Country             : Jordan

Telephone         : (962-6) 4403001 / 4652688

Facsimile          : (962-6) 4403003 / 4645669

Email                : alkeena@complex.nuqul.com.jo / obeereh@nuqulgroup.com / hsayess@nuqulgroup.com

 

Premises

Subject operates from a suite of offices and a factory covering an area of 2,300 square metres that are owned and located in the Industrial Area of Amman.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Elia Nuqul                                                                                         Managing Director

 

·       Ghassan Elia Nuqul                                                                           Director

 

·       Marwan Elia Nuqul                                                                            Director

 

·       Randa E Nuqul                                                                                  Director

 

·       Lina E Nuqul                                                                                     Director

 

·       Hani E Nuqul                                                                                    General Manager

 

·       Salem Karadsheh                                                                              Commercial Manager

 

·       Hazim Odeh                                                                                     Finance Manager

 

·       Omar Beereh                                                                                    Sales Manager

 

·       Hadi El Sayess                                                                                 Marketing Manager

 

·       Khalid Maghabrah                                                                             IT Manager

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 23rd June 1993

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 3218, Amman

 

Chamber Member No. : 9887

 

National ID No.            : 20007814

 

Issued Capital              : JD 5,564,000

 

Paid up Capital            : JD 5,564,000

 

Name of Shareholder (s)                                         Percentage

 

·       Elia Nuqul & Sons Co                                                60%

 

·       Integrated Investment & Industries Co             20%

 

·       Ghassan Elia Nuqul                                                   10%

 

·       Marwan Elia Nuqul                                                    10%

 

 

AFFILIATED COMPANIES

 

Subject is a member of the Nuqul Group of Companies, which began operations in Jordan in 1952 with its nucleus, Nuqul Brothers, starting as a trading company specialising in the import and distribution of consumer products. The group now has a diversified range of interests with operations worldwide and a workforce of approximately 4,000 people.

 

The Nuqul Group of Companies includes the following concerns:

 

·       Naseem Trading Co

3rd Circle, Jabal Amman

PO Box: 1368

Amman

Jordan

Tel: (962-6) 5652688 / 5623908

Fax: (962-6) 5645669

 

·       Arab Foam Factory Company Ltd

PO Box: 1368

Amman

Jordan

Tel: (962-6) 5652688 / 5691366

Fax: (962-6) 5645669

 

·       Nuqul Brothers & Contracting Co

2nd Circle, Jabal Amman

PO Box: 154

Amman

Jordan

 

·       Non-Wovens of Jordan

PO Box: 154

Amman

Jordan

Tel: (962-6) 5652688 / 5722251

Fax: (962-6) 5645669

 

·       Fine Hygienic Paper Factory Co Ltd

       Fine Building

Hussein Bin Ali Street

Jabal Amman

PO Box: 154

Amman

Jordan

Tel: (962-6) 5652688

Fax: (962-6) 5645669

 

·       Advanced Industries Co Ltd

Street No. 6

Sahab Industrial City

PO Box: 154

Amman 11118

Tel: (962-6) 4029614 / 4029615

Fax: (962-6) 4029616

 

·       Technical Application Co

PO Box: 154

Amman

Jordan

Tel: (962-6) 4619074

Fax: (962-6) 4619073

 

·       Packaging Industries Co Ltd (P.I.C. LTD)

     3rd Circle, Jabal Amman

     PO Box: 154

     Amman 11118

     Jordan

     Tel: (962-6) 4022715

     Fax: (962-6) 4022656

 

·       Fine Hygienic Paper Co Ltd

Jebel Ali Free Zone

     PO Box: 16927

     Dubai

     United Arab Emirates

     Tel: (971-4) 5815276

     Fax: (971-4) 5816761

 

·       Al Bardi Paper Mill Co SAE

Sixth of October City

Egypt

Tel: (20-11) 330960

Fax: (20-11) 330747

 

·       Nuqul Engineering Co

 

·       Arab Trading Exchange Co

 

·       Specialise Industries Co Ltd

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of facial tissue, toilet paper, napkin paper, kitchen towel and wet strength

     paper. Production began in March 1996.

 

     Subject is ISO 9002 accredited.

 

Production Capacity: 30,000 tonnes per annum.

 

Import Countries: France, Spain and Italy.

 

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 31,490,000                           JD 32,125,000

 

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

 

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

 

 

BANKERS

 

·       Arab Bank Plc

Shmeisani Branch

PO Box: 950545 & 950544

Amman 11195

Tel: (962-6) 5607231 / 5607115

Fax: (962-6) 5606793 / 5606830

 

·       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.

 

 

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.51.78

UK Pound

1

Rs.81.32

Euro

1

Rs.69.42

 

 

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.