MIRA INFORM REPORT

 

 

Report Date :           

09.05.2011

 

IDENTIFICATION DETAILS

 

Name :

AL BEHAR INDUSTRIES CO LTD  

 

 

Registered Office :

Building No. 75, 2nd Floor, Abdullah Gosheh Street, Douar Al Sabeea Area  P.O.Box No. 175, Amman 11512

 

 

Country :

Jordan

 

 

Date of Incorporation :

30.08.2000

 

 

Com. Reg. No.:

6283

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacturers and distributors of home furniture specialized in the outdoor furniture which is used in the home gardens, restaurants and hotels

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

JD 200,000

Status :

Moderate

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Jordan

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company NAME

 

Al Behar Industries Co Ltd 

 

 

company ADDRESS

 

Building             : Building No. 75, 2nd Floor

Street               : Abdullah Gosheh Street

Area                 : Douar Al Sabeea Area 

P.O.Box No.      : 175

Town                 : Amman 11512

Country             : Jordan

Telephone         : (962 6) 581 1799

Fax                   : (962 6) 586 1679

E-Mail               : triangle@nol.com.jo  / ayman@al-behar.com  

Website            : www.al-behar.com

 

Arabic Translation : Albihar Lilsina’at Almuta’adedah

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                                            Position

 

1. Bassel Othman Ramadan                   Managing Director

 

2. Raed Mohammed Al Takrouri              Deputy Managing Director

 

3. Fares Haitham Fares                          Director

 

4. Ayman Abu Gharbiyah                        Financial Manager

 

Total Employees : 150

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers

or banks.

 

We consider it is acceptable to deal with subject for MEDIUM amounts.

 

Opinion on maximum credit : JD 200,000

 

Trade risk assessment : Normal

Opinion on the credit figure of US DLRS 150,000 :

 

We consider the above figure to be within the company's financial

capabilities.

 

 

PRINCIPAL BANKERS

 

NAME     : ARAB BANK PLC 

Branch   : Main Branch

P.O. Box : 950544

Town     : Amman 11195

Telephone: (962 6) 560 7231

Fax      : (962 6) 560 6793

 

The company also has an account with :

Bank Of Jordan

Main branch

PO Box 2140

Amman 11181

Telephone: (962 6) 559 6277

Fax      : (962 6) 569 6291

 

 

FINANCIAL INFORMATION

 

Private companies in Jordan are not required to publish or disclose balance sheets. However, the subject interviewed offered the following information :

 

Sales Turnover          : JD 7,500,000 - 2009 - exact

                        : JD 8,000,000 - 2010 - exact

                        : JD 9,200,000 - 2011 - projected

 

Net Profit              : JD   700,000 - 2009 - exact

                        : JD   750,000 - 2010 - exact

                        : JD   850,000 – 2011 – projected

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started : 30 August 2000

 

History : The subject company was established in Jordan on 30 August 2000, however origins of its operations in Jordan can be traced to 1992.

 

C.R. No. : 6283

 

National ID No.: 200006122

 

Authorised Capital : JD 65,000 (increased from JD 30,000)

 

Paid-Up Capital : JD 65,000 (increased from JD 30,000)

 

Limited Liability Company with the following shareholders :

 

                                                             Share Value

 

1. Raed Mohammed Al Takrouri                      JD 24,375

   (Jordanian national / National ID No.: 9701036262)

 

2. Bassel Othman Ramadan                          JD 24,375

   (Jordanian national / National ID No.: 9601002662)

 

3. Fares Haitham Fares                            JD 16,250

   (Jordanian national / National ID No.: 9760002778)

 

Affiliated companies of Al Behar Industries Co Ltd :

 

Associates

 

1. Al Behar Globe For Chemical Manufacturing And Industries

   Amman

   Telephone: (962 6) 581 1799

   C.R. No. : 19579

   Est. Date: 02/09/2009

 

2. Rakan House For Furniture And Decoration

   Umm Al Qiwan

   UAE

 

3. Al Behar For Marble & Granite

   Amman

   C.R. No. : 13810

   Eat. Date: 26/02/2007

 

4. Al Behar For Wooden Works

   Amman

   C.R. No. : 17947

   Est. Date: 26/01/2009

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Manufacturers and distributors of home furniture specialized in the outdoor furniture which is used in the home gardens, restaurants and hotels.

 

Importers and wholesalers of packaging materials.

 

NACE Code : 3109

 

Imports from Asia, mainly from India, Indonesia, Singapore and GCC countries.

 

Exports to USA, Turkey, Cameroun, Sierra Leone, GCC, Middle Eastern and North African countries.

 

 

FACILITIES

 

The Company has the following facilities :

 

Owned administrative offices as well as rented manufacturing unit and storage facilities located in Sahab Industrial Area (see 'Branch Offices' below).

 

Subject formerly used P.O. Box 425, Amman 11118.

 

 

BRANCH OFFICES

 

Sahab Industrial Area

Telephone: (962 6) 402 0789

Fax      : (962 6) 402 0305

 

 

SPECIAL NOTE

 

The address given by you: Bldg # 75, 2nd Floor, Abdallah Gosheh Street is misspelt. Please note that the correct spelling is as per heading.

 

The area name given by you: Sahad Indl Estate is misspelt and applies to subject's branch office address. Please note that subject’s correct administrative office address is as per heading.

 

Interviewed: Ayman Abu Gharbiyah (Financial Manager).

       


FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.78

UK Pound

1

Rs.73.43

Euro

1

Rs.65.27

 

 

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.