MIRA INFORM REPORT

 

 

Report Date :

01.11.2011

 

IDENTIFICATION DETAILS

 

Name :

YOUSEF AL AKKAD SONS CO

 

 

Registered Office :

Hazaa Bedyan Abo Jamous Street North Marka PO Box 340677 Amman 11134

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

18.12.1999

 

 

Com. Reg. No.:

54483, Amman

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Distributors of fresh and frozen meat, poultry and fish.

 

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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                                     : YOUSEF AL AKKAD SONS CO

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 18th December 1999

Commercial Registration Number            : 54483, Amman

National ID Number                                : 200009570

Issued Capital                                        : JD 200,000

Paid up Capital                                      : JD 200,000

Total Workforce                                     : 15

Activities                                               : Distributors of fresh and frozen meat, poultry and fish.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 150,000

 

COMPANY NAME

 

YOUSEF AL AKKAD SONS CO

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Hazaa Bedyan Abo Jamous Street

Area                 : North Marka

 

PO Box             : 340677

 

Town                 : Amman 11134

Country             : Jordan

 

Telephone         : (962-6) 4891995 / 4872373

Facsimile          : (962-6) 4871995

Mobile               : (962-79) 6888395

Email                : akkad@index.com.jo

 

Premises

 

Subject operates from a small suite of offices that are rented and located in the Industrial Area of Amman.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Amar Yousef Al Akkad                                                                      Managing Partner

 

·       Jamal Yousef Al Akkad                                                                      Partner

 

·       Bassam Yousef Al Akkad                                                                  Partner

 

·       Mohamed Yousef Al Akkad                                                                Partner

 

·       Attalah Yousef Al Akkad                                                                    Partner

 

·       Yousef  Bassam Yousef Al Akkad                                                      Commercial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 18th December 1999

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 54483, Amman

 

National ID No.            : 200009570

 

Issued Capital              : JD 200,000

 

Paid up Capital            : JD 200,000

 

Name of Partners                                                          

 

·       Amar Yousef Al Akkad

·       Jamal Yousef Al Akkad

·       Bassam Yousef Al Akkad

·       Mohamed Yousef Al Akkad

·       Attalah Yousef Al Akkad

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of fresh and frozen meat, poultry and fish.

 

Import Countries: India, Pakistan, New Zealand, Australia and Brazil.

 

Operating Trend: Steady

 

Subject has a workforce of 15 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 2,150,000                             JD 2,210,000

 

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

 

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

 

BANKERS

 

·       Cairo Amman Bank

Shabsough Street

PO Box: 715

Amman

Tel: (962-6) 5639321 / 5623100 / 5623109

Fax: (962-6) 5639328

 

 

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.48.87

UK Pound

1

Rs.78.11

Euro

1

Rs.68.36

 

 

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.