MIRA INFORM
REPORT
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Report Date : |
03.06.2011 |
IDENTIFICATION DETAILS
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Name : |
FROMEWILL LTD |
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Registered Office : |
Building No. 39, Mecca Street, Dahiat Al Hussein, P O Box
941021, Amman 11194 |
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Country : |
Jordan |
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Date of Incorporation : |
09.11.1992 |
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Com. Reg. No.: |
544, Amman |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors construction materials, building materials, medicines and general foodstuffs |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
US$ 75,000 |
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Status : |
Moderate |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Jordan |
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 |
Bottom of Form
SUMMARY
Company Name : FROMEWILL LTD
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 9th November 1992
Commercial Registration Number : 544, Amman
Membership Number : 300
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
Total Workforce : 10
Activities : Distributors construction materials, building materials, medicines and
general foodstuffs.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 75,000
Person Interviewed : Wamidh Alwan, Commercial Manager
COMPANY NAME
FROMEWILL LTD
company ADDRESS
Registered & Physical Address
Building : Building No. 39
Street : Mecca Street
Area : Dahiat Al Hussein
PO Box : 941021
Town : Amman 11194
Country : Jordan
Telephone : (962-6) 5545298
Facsimile : (962-6) 5545297
Email : info@fromewill.com
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
·
Salam Haider Hamdy
Tokmaki General
Manager
·
Wamidh Alwan Commercial
Manager
·
Abbass
Hamdy Shokur Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 9th
November 1992
Legal Form :
Limited Liability Company
Commercial Reg. No. : 544, Amman
Membership
No. : 300
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
Name of Shareholder
(s)
·
Fromewill
Ltd
112 Wembley Park Drive
Wembley
Middlesex HA9 8HS
United Kingdom
OPERATIONS
Activities: Engaged in the import and distribution of
construction materials, building materials, medicines and general foodstuffs.
Import
Countries: Europe, China
and India
Export
Countries: Iraq
Subject has a
workforce of 10 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
·
Arab
Banking Corporation
Matalqa Centre Branch
11th August Street
PO Box: 926691
Amman 11110
Tel: (962-6) 4664183 / 4664185
Fax: (962-6) 4692713
·
Union
Bank for Saving and Investment
Shmeisani Branch
Amman
Tel: (962-6) 5607011
Fax: (962-6) 5624232
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.
The above credit
figure is higher than transactions previously seen and a measure of caution
would be prudent given the magnitude of the transaction.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.94 |
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UK Pound |
1 |
Rs.73.46 |
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Euro |
1 |
Rs.64.58 |
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 |
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NB |
New Business |
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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.