MIRA INFORM
REPORT
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Report Date : |
25.02.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
GEORGE ABU ZEID & CO |
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Registered Office : |
Wadi Sakra Area, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
15.12.1975 |
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Com. Reg. No.: |
4038, |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject operates several divisions through Furniture Division & Automotive Parts Division |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 250,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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b1 |
b1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : GEORGE ABU ZEID & CO
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : 15th December 1975
Commercial Registration Number : 4038,
National ID Number : 200003302
Issued Capital : JD 48,000
Paid up Capital : JD 48,000
Total Workforce : 25
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
GEORGE ABU ZEID & CO
company ADDRESS
Registered & Physical Address
Location : Wadi Sakra Area
PO Box : 638
Town :
Country :
Telephone : (962-6) 4620620 / 4879100 / 4879400
Facsimile : (962-6) 4884512 / 4643570
Email : furniture@abuzeid.com.jo
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Central Business Area of Amman.
Branch Office (s)
Location Description
·
Marqa
Area Office
premises
Tel: (962-6) 4879100 / 4879400
Fax: (962-6) 4884512
KEY PRINCIPALS
Name Position
·
George
Anis Abu Zeid Managing
Partner
·
Antoine
George Anis Abu Zeid Partner
·
Nicole
George Anis Abu Zeid Partner
·
Marwan
Salih Commercial
Manager – Furniture Division
·
Yousef
Shtlan Commercial Manager – Automotive Division
·
Atta
Dalabeh Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 15th
December 1975
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4038,
National ID No. :
200003302
Issued Capital : JD 48,000
Paid up Capital : JD 48,000
Name of Partners
·
George
Anis Abu Zeid
·
Antoine
George Anis Abu Zeid
·
Nicole
George Anis Abu Zeid
OPERATIONS
Activities: Subject’s operations are performed through
the following divisions:
·
Furniture
Division
Import and distribution of office
and household furniture.
·
Automotive
Parts Division
Import and distribution of automotive spare parts and related
accessories.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 25 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 3,050,000 JD 3,115,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
HSBC
Bank
Jebel Hussein
PO Box: 925286
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.37 |
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|
1 |
Rs.73.54 |
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Euro |
1 |
Rs.62.39 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.