MIRA INFORM REPORT

 

 

Report Date :

05.10.2011

 

IDENTIFICATION DETAILS

 

Name :

AL ABAS TRADING COMMERCIAL ESTABLISHMENT

 

 

Formerly Known As :

BASSAM MOHAMED OBEID & PARTNERS

 

 

Registered Office :

Building No. 45 Dr Mohamed Al Bahseer Street Jabal Al Webda Area, Abdali PO Box      11047 Amman 11123

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

04.10.1999

 

 

Com. Reg. No.:

50266, Amman

 

 

Legal Form :

General Partnership

 

 

Line of Business :

Distributors of office supplies.

 

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$ 100,000

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

 

SUMMARY

 

Company Name                                     : AL ABAS TRADING COMMERCIAL ESTABLISHMENT

Also Known As                                      : BASSAM MOHAMED OBEID & PARTNERS

Country of Origin                                    : Jordan

Legal Form                                            : General Partnership

Registration Date                                   : 4th October 1999

Commercial Registration Number            : 50266, Amman

Chamber Membership Number                : 804091

National ID Number                                : 200017882

Partners Capital                                     : JD 10,000

Total Workforce                                     : 6

Activities                                               : Distributors of office supplies.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 100,000

Person Interviewed                                 : Ali Al Aram, Financial Controller

 

COMPANY NAME

 

AL ABAS TRADING COMMERCIAL ESTABLISHMENT

 

ALSO KNOWN AS: BASSAM MOHAMED OBEID & PARTNERS

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Building No. 45

Street               : Dr Mohamed Al Bahseer Street

Location            : Jabal Al Webda Area, Abdali

 

PO Box             : 11047

 

Town                 : Amman 11123

Country             : Jordan

 

Telephone         : (962-6) 5651012

Facsimile          : (962-6) 5651013

Mobile               : (962-79) 5049225

Email                : ab_jor@wandoo.jo

 

Premises

 

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

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Bassam Mohamed Abas Obeid                                                          Managing Partner

 

·       Najah Sobhi Hussain Maqdadi                                                            Partner

 

·       Jamal Maqdadi                                                                                  General Manager

 

·       Naeem Obeid                                                                                    Commercial Manager

 

·       Ali Al Aram                                                                                       Financial Controller

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 4th October 1999

 

Legal Form                  : General Partnership

 

Commercial Reg. No.  : 50266, Amman

 

Chamber Member No. : 804091

 

National ID No.            : 200017882

 

Partners Capital           : JD 10,000

 

Name of Partners (s)

 

·       Bassam Mohamed Abas Obeid

 

·       Najah Sobhi Hussain Maqdadi

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of office supplies.

 

Import Countries: Germany, India and South Korea

 

Operating Trend: Steady

 

Subject has a workforce of 6 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 925,000                                JD 1,000,000

 

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

 

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

 

 

BANKERS

 

·       ANZ Grindlays Bank

Shmeisani Branch

PO Box: 9997

Amman

Tel: (962-6) 4660201

Fax: (962-6) 4679115

 

 

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 business is considered to be a fair trade risk.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.22

UK Pound

1

Rs.76.07

Euro

1

Rs.65.06

 

 

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.