MIRA INFORM REPORT

 

 

Report Date :

21.02.2011

 

IDENTIFICATION DETAILS

 

Name :

SEAMAR SHIPPING SERVICE CO

 

 

Registered Office :

Real Estate Development Complex, Building No. 145, 5th Floor, Office No. 507, Wasif Al Tal Street, P O Box 961181, Amman 11196

 

 

Country :

Jordan

 

 

Date of Incorporation :

14.04.2009

 

 

Com. Reg. No.:

14578, Amman

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Providers of freight forwarding services, warehousing, material handling, commission agents, brokerage as well as import and trading of general goods.

 

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$ 150,000

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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                                     : SEAMAR SHIPPING SERVICE CO

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Partnership

Start Date                                             : 2003

Registration Date                                   : 14th April 2009

Commercial Registration Number            : 14578, Amman

National ID Number                                : 200102506

Issued Capital                                        : JD 50,000

Paid up Capital                                      : JD 50,000

Total Workforce                                     : 15

Activities                                               : Providers of freight forwarding services, warehousing, material

handling, commission agents, brokerage as well as import and trading of general goods.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 150,000

Person Interviewed                                 : Mohamed Abdullah Al Zoubi, Partner

 

COMPANY NAME

 

SEAMAR SHIPPING SERVICE CO

 

 

company address

 

Registered & Physical Address

Building             : Real Estate Development Complex, Building No. 145, 5th Floor, Office No. 507

Street               : Wasif Al Tal Street

PO Box             : 961181

Town                 : Amman 11196

Country             : Jordan

Telephone         : (962-6) 5531278 / 5531567 / 5533274

Facsimile          : (962-6) 5530846

Email                : mzoubi.addex@seamar.co.jo / haroon.addax@seamar.com.jo

 

Premises

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

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Haroon Jamail Al Jaroon                                                                    Managing Partner

 

·       Mohamed Abdullah Al Zoubi                                                               Partner

 

·       Bashar Al Dameri                                                                              Marketing Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 2003, however subject was registered on 14th April 2009

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 14578, Amman

 

National ID No.            : 200102506

 

Issued Capital              : JD 50,000

 

Paid up Capital            : JD 50,000

 

Name of Partners

 

·       Haroon Jamail Al Jaroon

 

·       Mohamed Abdullah Al Zoubi

 

 

OPERATIONS

 

Activities: Engaged in the provision of freight forwarding services, warehousing, material handling, commission                          agents, brokerage as well as import and trading of general goods.

Agencies Held:

·       Speadly Cargo          Bahrain

·       Al Rai International    Bahrain

·       Addex Cargo Bahrain

·       Forall Logistic           Dubai

 

Subject has a workforce of 15 employees.

 

 

FINANCIAL DATA

 

Companies registered in Jordan are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       Standard Chartered Bank

Mecca Street

Amman 11190

Tel: (962-6) 5607201

Fax: (962-6) 5687629

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.18

UK Pound

1

Rs.73.04

Euro

1

Rs.61.43

 

 

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

 

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.