MIRA INFORM
REPORT
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Report Date : |
25.02.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
MAHER ABU RUQAYYEH & PARTNER |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
10.09.2006 |
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Com. Reg. No.: |
12767 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of frozen seafood and chicken |
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$ 150,000 |
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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
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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 : MAHER ABU RUQAYYEH & PARTNER
Also Known As : BLUE CORNAR FISHERIES
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : 10th September 2006
Commercial Registration Number : 12767
Chamber Membership Number : 128028
Issued Capital : JD 10,000
Paid up Capital : JD 10,000
Total Workforce : 25
Activities : Distributors of frozen seafood and chicken.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
OMPANY NAME
MAHER ABU RUQAYYEH
& PARTNER
ALSO KNOWN AS
BLUE CORNAR
FISHERIES
company ADDRESS
Registered & Physical Address
Street :
Area : Al Sweifyah Area
Town :
Country :
Telephone : (962-6) 5833975
Facsimile : (962-6) 5833976
Email : bluecornar1@gmail.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Amman.
KEY PRINCIPALS
Name Position
·
Maher Mohamed
Hussain Abu Ruqayyeh Managing
Partner
·
Belal
Al Hussaini Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 10th
September 2006
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 12767
Chamber Member No. : 128028
Issued Capital : JD 10,000
Paid up Capital : JD 10,000
Name of Partners
·
Maher
Mohamed Hussain Abu Ruqayyeh
·
Mr Maher Mohamed Hussain Abu Ruqayyeh’s wife
and children
OPERATIONS
Activities: Engaged in the import and distribution of frozen seafood and chicken.
Import
Countries:
International
Suppliers:
·
Freshly
Frozen
Brand Names: BLUE CORNAR
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 1,385,000 JD 1,550,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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Arab
Bank Plc
Shmeisani Branch
PO Box: 950545 & 950544
Tel: (962-6) 5607231 / 5607115
Fax: (962-6) 5606793 / 5606830
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the company
is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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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.