MIRA INFORM REPORT

 

 

Report Date :

29.12.2011

 

IDENTIFICATION DETAILS

 

Name :

JUMAA KHALAF SALMAN

 

 

Registered Office :

Souk Jamila, Baghdad

 

 

Country :

Iraq

 

 

Year of Establishment :

2003

 

 

Com. Reg. No.:

10293

 

 

Legal Form :

Partnership

 

 

Line of Business :

Wholesale of meat and meat products

 

 

No. of Employees :

55

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Unknown

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 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Iraq

C2

C2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name 

     

Jumaa Khalaf Salman

 

 

Rating Briefing

 

      Current Recommended Credit:        Insufficient Data

 

      Payment Record:                             UNDETERMINED

 

                                                             

 

Registration Briefing

 

     

      Registration Number:                       10293

 

      Registration Date:                            2003

 

      Legal Form:                                     PARTNERSHIP

 

      Latest Financials:                            N/A

 

 

Financial Briefing

 

      Nominal Capital:                              N/A

 

      Issued Capital:                                 N/A

 

      Turnover:                                         N/A

 

      Net Profit:                                        N/A

 

      Net Worth:

 

 

Company Details

 

      Company Name:                                    Jumaa Khalaf Salman

      Headquarter Address:                             Souk Jamila,

                                                                  Baghdad,

                                                                  Iraq

 

      Telephone:                                            +9647 704429101

 

      E‑Mail:                                                  almurad_1@yahoo.com

 

        Company was originally started on 2003

 

 

 

Registration & Legal Details

 

      Current Legal Form:                             PARTNERSHIP

      Registration Address:                           Souk Jamila,

                                                                Baghdad

      Registration Number:                            10293

      Registration Date:                                2003

      Year/Date Company Established:          2003

      Registration Town:                               Baghdad

 

 

Shareholders

 

 

          Information on Shareholders is not available/applicable

 

 

 

Principals

 

        Name:                                               Mr Jumaa Khalaf Salman

        Position within the company:              Import Manager & Sales Manager

        % interest in Partnership:                   30.00

        Country of Birth:                                 Iraq

        Nationality:                                        Iraqi

        Can fluently speak:                            Arabic

        Education:                                         Graduate

 

        Name:                                               Mr Adel Kasem

        Position within the company:              Chairman

        % interest in Partnership:                   30.00

        Country of Birth:                                 Iraq

        Nationality:                                        Iraqi

        Can fluently speak:                            Arabic & English

        Education:                                         Graduate

 

 

Company Activities

 

        NACE Codes:  4632           Wholesale of meat and meat products

                              4722           Retail sale of meat and meat products in specialised stores

 

        Imports from India Red Meat, & Brazil White Meat, somtimes it imports from Turkey.

 

 

Operations

 

         Employees                                      Company Employs: 55

 

         HQ Premises                                   Operates from:     Owned Shop, Warehouse

                                                                Location:             Central Business Area

 

         Branches                                        Basra Branch,

                                                                Basra,

                                                                Iraq

                                                                Description of branch: Warehouse, Shop

 

         Imports

 

                                                              Import % and type of product:     100% Finished Goods

                                                              Imports From:                            India, Brazil, Turkey

                                                              Importing Terms:                        Cash

 

 

        Agencies:

              Allana                                                 India                                 Red Meat

 

         Exports

 

                                                              Export % and type of product:     Subject does not export

 

          Trading & Selling

 

                                                              Type of Customer:  General Public, Wholsalers & Distributers

 

        Vehicles:                                          Total number of vehicles: 13

 

 

Related Companies

        

Subsidiaries

         Affiliates

                                   Al Yusra Company

                                  Iraq

                                                                                       Start Date: 2003

                                  Operates as: Trading Company

                                  Related through: common principals and shareholders

 

 

Bankers

 

        Information on Bankers is not available/applicable

 

 

Payments

 

       Subject's payments reported to be: UNDETERMINED

 

 

Interview & Reporter Comments

 

            Name/Title:        Mr. Jumaa Khalaf, Import Manager Sales Manager

            Comment:         Subject has confirmed the general details shown in the report.

                                    Subject has confirmed the general details provided in the report but has declined to

                                    provide any Financial Data.

 

            Reporter Comment:In an interview conducted with Mr. Jumaa Khalaf Salman, Sales & Import Manger &

            Partner, he confirmed all the information found in the report, but he declined bank

            accounts & any financial information citing the grounds of the company

            confidentiality.

 

            He confirmed the company name is: Jumaa Khalaf Salman.

 

            He confirmed the address of the company is: Souk Jamila, baghdad, Iraq. (Not as

            found in the inquiry Souk Jamica).

 

            When we asked him about the sales of the company within the last 3 years he

            said that is decreasing and he declined to provide any sales figures.

 

 

 

 

Conclusions

 

            Accounts Comments:     Full Financial Statements were unavailable to local analysts so a complete and

accurate picture of the financial strength of the company could not be ascertained.

Our assessment and ratings are therefore based on non‑financial data.

 

Local Reputation:           Local informants have not adequate information to assess the Subject's local reputation.

 

 

Owner/Shareholders       Comments:Some of the owners / shareholders have an active participation in the running of the business.

 

            Age of Business:           The company is long established in the local market.

 

 

 

                                                                                               


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.21

UK Pound

1

Rs.83.32

Euro

1

Rs.69.51

 

 

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.