MIRA INFORM
REPORT
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Report Date : |
13.05.2011 |
IDENTIFICATION DETAILS
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Name : |
ARAB AUTOMATED SYSTEMS CO |
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Registered Office : |
24 Tariq Center, Abdul
Hameed Sharaf Street, Shmeisani, P O Box 710411, Amman 11171 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1991 |
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Com. Reg. No.: |
120975, Amman |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of computer equipment, software, engineering equipment and communication products |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 250,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
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 |
SUMMARY
Company Name : ARAB AUTOMATED SYSTEMS CO
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 1991
Commercial Registration Number : 120975, Amman
Issued Capital : JD 150,000
Paid up Capital : JD 150,000
Total Workforce : 22
Activities : Distributors of computer equipment, software, engineering equipment
and communication products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend Steady
Recommended Credit Limit : US$ 250,000
Person Interviewed : Mahmoud Ghais, Managing Director
COMPANY NAME
ARAB AUTOMATED
SYSTEMS CO
company ADDRESS
Registered & Physical Address
Building : 24 Tariq Center
Street : Abdul Hameed Sharaf Street
Area : Shmeisani
PO Box : 710411
Town : Amman 11171
Country : Jordan
Telephone : (962-6) 5624426
Facsimile : (962-6) 5687982
Mobile : (962-79) 5558686
Email : aas@net.com.jo
/ info@aasjo.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Amman.
KEY PRINCIPALS
Name Nationality Position
·
Mahmoud
Ghais Jordanian Managing Director
·
Iyadh
Abdul Jabbar Iraqi Director
·
Mohamed Zuhdi - Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1991
Legal Form :
Limited Liability Company
Commercial Reg. No. : 120975, Amman
Issued Capital : JD 150,000
Paid up Capital : JD 150,000
Name of Shareholder
(s)
·
Mahmoud
Ghais
·
Iyadh
Abdul Jabbar
OPERATIONS
Activities: Engaged in the import and distribution of computer
equipment, software, engineering equipment and
communication products.
Import
Countries: United Kingdom,
Italy, Russia, United States of America and the Far East.
International
Suppliers :
·
Motorola United Kingdom
·
Field
Technology United Kingdom
·
Unicat United
States of America
·
SCAM Italy
Operating Trend: Steady
Subject has a
workforce of 22 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 2,310,000 JD 2,575,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
·
Arab
Bank Plc
Shmeisani Branch
PO Box: 950545 & 950544
Amman 11195
Tel: (962-6) 5607231 / 5607115
Fax:
(962-6) 5606793 / 5606830
·
Cairo
Amman Bank
Zaara Mall Branch
PO Box: 17868
Amman 11195
Tel: (962-6) 5006220
Fax: (962-6) 5201762
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.44.79 |
|
UK Pound |
1 |
Rs.73.19 |
|
Euro |
1 |
Rs.63.59 |
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 |
|
<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.