MIRA INFORM REPORT

 

 

Report Date :           

15.12.2011

 

IDENTIFICATION DETAILS

 

Name :

JAMIL ABDUL FATTAH ASAAD AND SONS

 

 

Registered Office :

Al Petra Street, Souq Al Sukar, P O Box 20635, Amman 11118

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

30.08.1994

 

 

Com. Reg. No.:

37619

 

 

Legal Form :

General Partnership

 

 

Line of Business :

Wholesale and retail of dried seeds and dried foods.

 

 

No. of Employees :

12 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$ 200,000

 

 

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 – 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                                     : JAMIL ABDUL FATTAH ASAAD AND SONS

Trading As                                             : QURTUBA EST

Country of Origin                                    : Jordan

Legal Form                                            : General Partnership

Registration Date                                   : 30th August 1994

Commercial Registration Number            : 37619

Chamber Membership Number                : 52941

National ID Number                                : 200023452

Partners Capital                                     : JD 5,000

Total Workforce                                     : 12

Activities                                               : Wholesale and retail of dried seeds and dried foods.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 200,000

Person Interviewed                                 : Riyadh Jamil Abdul Fattah Asaad, Partner

COMPANY NAME

 

JAMIL ABDUL FATTAH ASAAD AND SONS

 

 

TRADING AS

 

QURTUBA EST

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Al Petra Street

Area                 : Souq Al Sukar

PO Box             : 20635

Town                 : Amman 11118

Country             : Jordan

Telephone         : (962-6) 4649888

Facsimile          : (962-6) 5542600

Mobile               : (962-79) 5530532 / 6363171

Email                : qurtubaest@hotmail.com

 

Premises

Subject operates from a small suite of offices and a showroom with storage facilities that are rented and located in the Central Business Area of Amman.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Jamil Abdul Fattah Asaad                                                                  Managing Partner

 

·       Riyadh Jamil Abdul Fattah Asaad                                                       Partner

 

·       Zayad Jamil Abdul Fattah Asaad                                                        Partner

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 30th August 1994

 

Legal Form                  : General Partnership

 

Commercial Reg. No.  : 37619

 

Chamber Member No. : 52941

 

National ID No.            : 200023452

 

Partners Capital           : JD 5,000

 

Name of Partners (s)

 

·       Jamil Abdul Fattah Asaad

 

·       Riyadh Jamil Abdul Fattah Asaad

 

·       Zayad Jamil Abdul Fattah Asaad

 

 

AFFILIATED COMPANIES

 

·       Zayad Oil Trading Est

     PO Box: 20635 & 15155

     Amman

     Tel: (962-6) 4649888

     Fax: (962-6) 4921703

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of dried seeds and dried foods, including spices, nuts and olives.

 

Import Countries: Egypt, Syria, Pakistan, Greece, Spain and Turkey.

 

International Suppliers:

 

·       Mohamed Birqdar Co Syria

·       Hemani                                UAE

·       Hemani                                Pakistan          

 

Brand Names: AL JAMIL

 

Operating Trend: Steady

 

Subject has a workforce of 12 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 1,780,000                             JD 2,100,000

 

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

 

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

 

 

BANKERS

 

·       Arab Bank Plc

Shmeisani Branch

PO Box: 950545 & 950544

Amman 11195

Tel: (962-6) 5607231 / 5607115

Fax: (962-6) 5606793 / 5606830

Email: secretariat@arabbank.com.jo

 

·       Jordan Kuwait Bank

Abdali Branch

PO Box: 9776

Amman

Tel: (962-6) 5688814

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              October 2002

Credit amount                                        55,020

Amount overdue                         0

Payment terms                                      30 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               Canadian Dollars

 

 

 

GENERAL COMMENTS

 

Jamil Abdul Fattah Asaad And Sons commenced trading in 1994 and has made steady progress in the local market. It is engaged in the import, wholesale and retail of dried seeds and dried food, enjoying a good reputation for the quality of its products.

 

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.53.58

UK Pound

1

Rs.82.97

Euro

1

Rs.69.89

 

 

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.