MIRA INFORM REPORT

 

 

Report Date :           

28.06.2011

 

IDENTIFICATION DETAILS

 

Name :

LIFE FOOD TRADING CO LTD (TAMARI)

 

 

Registered Office :

Tamari Building, Yahia Ibn Al Mukhtar Street, North Marka, P O Box 22, Amman 11118

 

 

Country :

Jordan 

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

21.05.1992

 

 

Com. Reg. No.:

7290, Amman

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Distributors of general foodstuffs and tea.

 

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 :

Usually Correct

 

 

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)

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                                     : LIFE FOOD TRADING CO LTD (TAMARI)

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Partnership

Start Date                                             : 21st May 1992

Registration Date                                   : 21st May 2002

Commercial Registration Number            : 7290, Amman

Chamber Membership Number                : 97159/8

National ID Number                                : 200013337

Issued Capital                                        : JD 30,000

Paid up Capital                                      : JD 30,000

Total Workforce                                     : 12

Activities                                               : Distributors of general foodstuffs and tea.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 150,000

Person Interviewed                                 : Majd Hafawa, Administration Executive

 

 

COMPANY NAME

 

LIFE FOOD TRADING CO LTD (TAMARI)

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Tamari Building

Street               : Yahia Ibn Al Mukhtar Street

Area                 : North Marka

PO Box             : 22

Town                 : Amman 11118

Country             : Jordan

Telephone         : (962-6) 4892843 / 4892844

Facsimile          : (962-6) 4893757

Mobile               : (962-79) 9070505

Email                : teacup@nets.jo / trading@butterflytea.net

 

Premises

Subject operates from a small suite of offices and a warehouse that are owned and located in the Suburban Business Area of Amman.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Marwan Lodific Tamari                                                                       Managing Partner

 

·       Lodific Wabeh Tamari                                                                        Partner

 

·       Thamer Zuraiqi                                                                                  Administration Manager

 

·       Mostafa Nuaimi                                                                                 Commercial Manager

 

·       Majd Hafawa                                                                         Administration Executive

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 21st May 1992, however subject was registered on 21st May 2002.

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 7290, Amman

 

Chamber Member No. : 97159/8

 

National ID No.            : 200013337

 

Issued Capital              : JD 30,000

 

Paid up Capital            : JD 30,000

 

Name of Partners

 

·       Marwan Lodific Tamari

 

·       Lodific Wabeh Tamari

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of general foodstuffs and tea.

 

Import Countries: Sri Lanka, Thailand, Indonesia and Malaysia.

 

International Suppliers:

 

·       Ceylon Tea   Sri Lanka

 

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 1,270,000                             JD 1,350,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Arab Bank Plc

Shmeisani Branch

PO Box: 950545 & 950544

Amman 11195

Tel: (962-6) 5607231 / 5607115

Fax: (962-6) 5606793 / 5606830

 

·       Housing Bank

Parliament Street

PO Box: 7693

Amman

Tel: (962-6) 5667126

 

·       HSBC Bank Middle East

Jabel Amman

PO Box: 925286

Amman

Tel: (962-6) 5518090

Fax: (962-6) 5518085

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              April 2005

Credit amount                                        100,000

Amount overdue                         0

Payment terms                                      90 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               US Dollars

 

 

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.45.10

UK Pound

1

Rs.71.88

Euro

1

Rs.63.75

 

 

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%)

 

 

 

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.