MIRA INFORM REPORT

 

 

Report Date :

26.11.2011

 

IDENTIFICATION DETAILS

 

Name :

JIMMY ABOUD LTD

 

 

Registered Office :

Corner of Queen & Henry Street, Port-of-Spain, Trinidad & Tobago, West Indies

 

 

Country :

Trinidad and Tobago

 

 

Year of Establishment :

1949

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Fabrics Provider.

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Moderate

 

 

Payment Behaviour :

To be Monitored

 

 

Litigation :

--

 

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)

Trinidad and Tobago

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

GEOPOLITICS - TRINIDAD AND TOBAGO

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Parliamentary system


Economic Risk: Low

Currency: 100.00 TTD   =   15.7480 USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Legal Name:

JIMMY ABOUD LTD

Trade Name:

THE TEXTILE KING

 

Legal Address

Corner of Queen & Henry Street, Port-of-Spain, Trinidad & Tobago, West Indies.

 

Operative Address

Corner of Queen & Henry Street, Port-of-Spain, Trinidad & Tobago, West Indies.

 

Telephone:

+1 (868) 625-2904

Registration Number :

N/A

Fax:

+1 (868) 623-2313

Legal Form:

Limited Company

Email:

texking@tstt.net.tt

Registered in:

Trinidad & Tobago

Website:

http://www.thetextileking.com

Date Created:

1949

Manager:

Jimes Charles Aboud, President.

Date Incorporated:

N/A

Staff:

N/A

Stock:

N/A

 

 

Value:

N/A

Activity:

Fabrics Provider.

 

 

BANKS

 

Name of the Bank

RBTT BANK

 

BUSINESS

 

HISTORY

 

The company was created in 1949

PRINCIPAL ACTIVITY

 

The company provides fabrics to the whole Caribbean, the Americas and also receives enquiries from Europe and the USA. 

 

Products/Services description:

 

The company offers textiles, fabrics, threads, yarns and fibers.  

Sales are:

 

Wholesale

Clients:

 

Professionals of the industry.

Operations area:

 

National, International.

The company imports from worldwide, depending on the demand.

The company export to worldwide, depending on the demand.

Comments on staff:

 

Despite our long searches we were not able to verify the number of employees of the company.

 

PAYMENTS

 

To be Monitored.

LOCATION

Headquarters

 

The company is headquartered at:

Corner Queen & Henry Street, Port of Spain, Trinidad & Tobago.

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

 

 

Shareholders Parent Company(ies):

 

This is a private company. Mr. James Charles Aboud is the main shareholder.

 

 

Management:

 

James Charles Aboud, President.

Gregory Aboud, Manager.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

 

As a private company the subject does not publish any financial statements.

 

 

 

We have contacted the company, but the representative refused to provide us any financial data without knowing the name of the inquiring party.

 

 

 

Comments on the financial data: At this time, the 2010 financial figures were neither revealed nor released to our sources.

 

 

Legal Fillings



 

The sources consulted record no detrimental legal or labor court information.

 

 

 

Rating

 

Local credit bureau gave a LOW credit rate.

 

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

 

 

Final Opinion

 

This is an active company from Trinidad & Tobago that has 62 years of experience in the industry.

 

The company is doing business and trades worldwide.

 

We were not able to find financial information about the company.

 

In addition we recommend requesting a monitoring report within the next 6-9 months to evaluate the company’s financial evolution.

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

 

Profitability

N.A.

Public

NO

 

Indebtedness

N.A.

Payments

TO BE MONITORED

 

Cash

N.A.

 

 

 

 



 

 

 



APPENDIX

 

Person Interviewed

 

The contacted person refused to provide his name.

Position

 

Male Representative.

Comments

 

The contacted person verified the company name, location, activity, offered products, shareholding and management staff. However, he refused to provide further information without knowing the name of the inquiring party.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.17

UK Pound

1

Rs.80.64

Euro

1

Rs.69.43

 

 

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.