MIRA INFORM REPORT

 

 

Report Date :           

07.10.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

HASAN TAWFIQ HASAN SUAYED & PARTNERS

 

 

Registered Office :

Al Majid Complex, Al Yadoudeh Area, P O Box 292, Amman 11610

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

22.10.1994

 

 

Com. Reg. No.:

38336, Amman

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Import and distribution of agriculture machinery, chemicals and pesticides

 

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

 

SUMMARY

 

Company Name                         : HASAN TAWFIQ HASAN SUAYED & PARTNERS

Also Known As                                      : ARAB GROUP FOR AGRICULTURE PRODUCTION & SUPPLIES

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 22nd November 1994

Commercial Registration Number            : 38336, Amman

Chamber Membership Number                : 54029

National ID Number                                : 200013900

Issued Capital                                        : JD 15,000

Paid up Capital                                      : JD 15,000

Total Workforce                                     : 12

Activities                                               : Import and distribution of agriculture machinery, chemicals and

pesticides

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Recommended Credit Limit                     : US$ 300,000

Person Interviewed                                 : Hussain Tawfiq, Finance Manager

 

 

 

COMPANY NAME

 

HASAN TAWFIQ HASAN SUAYED & PARTNERS

 

 

ALSO KNOWN AS

 

ARAB GROUP FOR AGRICULTURE PRODUCTION & SUPPLIES

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Al Majid Complex

Area                 : Al Yadoudeh Area

PO Box             : 292

Town                 : Amman 11610

Country             : Jordan

Telephone         : (962-6) 4129639 / 4129209

Facsimile          : (962-6) 4129491 / 4129610

Email                : arabgrp@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

 

·       Hassan Tawfiq Hassan Suayed                                                          Managing Partner

 

·       Bassin Yahya Omar Al Douag                                                            Partner

 

·       Essam Yahya Omar Al Douag                                                            Partner

 

·       Hani Mohamed Mostafa Salim                                                            Partner

 

·       Haythem Daragma                                                                            Commercial Manager

 

·       Hussain Tawfiq                                                                                  Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 22nd November 1994

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 38336, Amman

 

Chamber Member No. : 54029

 

National ID No.            : 200013900

 

Issued Capital              : JD 15,000

 

Paid up Capital            : JD 15,000

 

Name of Partner (s)

 

·       Hassan Tawfiq Hassan Suayed

 

·       Bassin Yahya Omar Al Douag

 

·       Essam Yahya Omar Al Douag

 

·       Hani Mohamed Mostafa Salim

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of agriculture machinery, chemicals, fertilisers and pesticides.

 

Import Countries: United Kingdom, Netherlands, Spain, Belgium and China

 

International Suppliers:

 

·       Singita                     Netherlands

·       Daehnseldt               Netherlands

·       Fetrico                     Spain

·       Agriehar                   Belgium

 

Operating Trend: Steady

 

Subject has a workforce of 12 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 1,940,000                             JD 2,115,000

 

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

Shmeisani Branch

PO Box: 950545 & 950544

Amman 11195

Tel: (962-6) 5607231 / 5607115

Fax: (962-6) 5606793 / 5606830

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              June 2009

Credit amount                                        195,000

Amount overdue                         0

Payment terms                                      180 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               Euros

 

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 and the above credit figure is within subject’s financial means.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.19

UK Pound

1

Rs.75.92

Euro

1

Rs.65.44

 

 

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.