MIRA
INFORM REPORT
|
Report Date : |
24.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
SPASIOTI BROTHERS COMPANY |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
12.01.1985 |
|
|
|
|
Financials as on : |
31.12.2010 |
|
|
|
|
Com. Reg. No.: |
16201, |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business : |
Wholesalers and retailers of water pumps, dry batteries, tractors, lubricating
oil and grease, electrical apparatus, motors and generators |
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 :
SPASIOTI BROTHERS COMPANY
Country of Origin :
Jordan
Legal Form :
Limited Liability Partnership
Registration Date :
12th January 1985
Commercial Registration Number : 16201, Amman
Chamber Membership Number :
6554
Issued Capital :
JD 30,000
Paid up Capital :
JD 30,000
Total Workforce :
12
Activities :
Wholesalers and retailers of water pumps,
dry batteries, tractors,
lubricating oil and grease, electrical apparatus,
motors and generators.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit :
US$ 150,000
Person Interviewed :
Hussain Al Sayed, Sales Manager
Company Name
SPASIOTI BROTHERS COMPANY
company ADDRESS
Registered
& Physical Address
Street : Madaba Street
Area : Al Wihdat Area
PO Box :
921565
Town :
Amman 11152
Country :
Jordan
Telephone :
(962-6) 4788180
Facsimile :
(962-6) 4732990
Mobile :
(962-79) 5535030
Premises
Subject operates from a small suite of offices and a
showroom that are rented and located in the Central Business Area of Amman.
KEY PRINCIPALS
Name Position
Thamer George Spasioti Managing
Partner
Sameer George Spasioti Partner
Hussain Al Sayed Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 12th January 1985
Legal Form : Limited Liability Partnership
Commercial Reg. No. : 16201, Amman
Chamber Member No. : 6554
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
Name
of Partners
Thamer George Spasioti
Sameer George Spasioti
OPERATIONS
Activities:
Engaged in the wholesale and retail of water
pumps, dry batteries, tractors, lubricating oil and grease,
electrical apparatus, motors and
generators.
Import Countries:
Europe and the Far East.
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
1,385,0000 JD
1,500,000
Local sources consider subject’s financial condition to be
Fair.
The above financial figures are based on estimations by our
local sources.
BANKERS
Cairo Amman Bank
Shabsough Street, PO Box: 715, Amman
Tel: (962-6) 5639321 / 5623100 / 5623109
Fax: (962-6) 5639328
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.20 |
|
|
1 |
Rs.73.16 |
|
Euro |
1 |
Rs.61.88 |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.