MIRA INFORM REPORT

 

 

Report Date :           

31.05.2011

 

IDENTIFICATION DETAILS

 

Name :

MOHAMED ALI DARWAZAH AND CO

 

 

Registered Office :

King Talal Street, Souk Al Sukar, Al Balad Area, P O Box 36, Amman 11118

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

05.09.1952

 

 

Com. Reg. No.:

2184, Amman

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Import and distribution of foodstuffs and groceries

 

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$ 300,000

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 – 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

 

 Bottom of Form

SUMMARY

 

Company Name                                     : MOHAMED ALI DARWAZAH AND CO

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Partnership

Start Date                                             : 5th September 1952

Registration Date                                   : 31st January 1985

Commercial Registration Number            : 2184, Amman

Chamber Membership Number                : 1004

National ID Number                                : 200086765

Issued Capital                                        : JD 39,000

Paid up Capital                                      : JD 39,000

Total Workforce                                     : 25

Activities                                               : Import and distribution of foodstuffs and groceries

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 300,000

Person Interviewed                                 : Mahmoud Jameel, Finance Manager

 

 

 

COMPANY NAME

 

MOHAMED ALI DARWAZAH AND CO

 

 

company ADDRESS

 

Registered & Physical Address

Street               : King Talal Street

Area                 : Souk Al Sukar, Al Balad Area

PO Box             : 36

Town                 : Amman 11118

Country             : Jordan

Telephone         : (962-6) 4625699 / 4622177 / 4622188 / 4207683

Facsimile          : (962-6) 4633062 / 4207684 / 4617932

Mobile               : (962-79) 5524674

Email                : darwazah@go.com.jo / amarakis@go.com.jo / malidar@go.com.jo

 

Premises

Subject operates from a medium sized suite of offices, a showroom and a warehouse that are rented and located in the Central Business Area of Amman.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·         Mujahed Mohamed Ali Darwazah                                                       Managing Partner

 

·         Amar Mujahed Mohamed Ali Darwazah                                              Partner

 

·         Hamza Mujahed Mohamed Ali Darwazah                                           Partner

 

·         Hamza Atta                                                                                     Sales Manager

 

·         Mahmoud Jameel                                                                             Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : Subject’s operations date back to 5th September 1952, however it was registered on

                                      31st January 1985

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 2184, Amman

 

Chamber Member No. : 1004

 

National ID No.            : 200086765

 

Issued Capital              : JD 39,000

 

Paid up Capital            : JD 39,000

 

Name of Partner (s)

 

·       Mujahed Mohamed Ali Darwazah

 

·       Amar Mujahed Mohamed Ali Darwazah

 

·       Hamza Mujahed Mohamed Ali Darwazah

 

·       Ms Suzan Mujahed Mohamed Ali Darwazah

 

·       Mrs Rabah Hamouz

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of foodstuffs and groceries including peeled vegetables for the

     catering industry

 

Import Countries: France, Belgium and GCC countries

 

International Suppliers:

 

·       Ashbal Cheese                     France

·       Tanya                                   Belgium

 

Operating Trend: Steady

 

Subject has a workforce of 25 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 1,625,000                             JD 1,800,000

 

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

King Faisal Street

PO Box: 68

Amman

Tel: (962-6) 4638161

     Fax: (962-6) 5637082

 

·       HSBC Bank Middle East

Khalid Bin Walid Street

Jebel Hussein

PO Box: 925286

Amman

Tel: (962-6) 5660471 / 5607471

Fax: (962-6) 5692964

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              July 2008

Credit amount                                        200,000

Amount overdue                         0

Payment terms                                      60 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               Euros

 

 

GENERAL COMMENTS

 

Established in 1952, subject is owned and managed by members of the Darwazah family who are well respected in the local business community.

 

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.45.10

UK Pound

1

Rs.74.27

Euro

1

Rs.64.35

 

 

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.