MIRA INFORM REPORT

 

 

Report Date :

12.10.2011

 

IDENTIFICATION DETAILS

 

Name :

SAHEL M M AL KUBAISI & PARTNER

 

 

Registered Office :

Al Mirad Commercial Centre, 3rd Floor Al Saqaliya Street Al Rabiya Area PO Box 930623 Amman 11193

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

23.01.1991

 

 

Com. Reg. No.:

51075, Amman

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Distributors of cotton fabrics, bedding sets, towels and handkerchiefs.

 

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$ 500,000

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 

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

SUMMARY

 

Company Name                                     : SAHEL M M AL KUBAISI & PARTNER

Trading As                                             : HIGH STARS TRADING COMPANY

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Partnership

Start Date                                             : 23rd January 1991

Registration Date                                   : 17th October 1998

Commercial Registration Number            : 51075, Amman

Membership Number                              : 75305

National ID Number                                : 200004762

Issued Capital                                        : JD 200,000

Paid up Capital                                      : JD 200,000

Total Workforce                                     : 12

Activities                                               : Distributors of cotton fabrics, bedding sets, towels and handkerchiefs.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 500,000

 

COMPANY NAME

 

SAHEL M M AL KUBAISI & PARTNER

 

TRADING AS: HIGH STARS TRADING COMPANY

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Al Mirad Commercial Centre, 3rd Floor

Street               : Al Saqaliya Street

Area                 : Al Rabiya Area

 

PO Box             : 930623

 

Town                 : Amman 11193

Country             : Jordan

 

Telephone         : (962-6) 5518503

Facsimile          : (962-6) 5518506

Mobile               : (962-79) 5564608 / (962-77) 7353531

Email                : info@high-star.com

 

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

 

·       Sahel Mahmoud Mohewish Al Kubaisi                                     Managing Partner

 

·       Abdul Jabar Moshin Zayad Al Kubaisi                                     Partner

 

·       Khaled Saleh                                                                                    General Manager

 

·       Rana Othman                                                                                   Administration Executive

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 23rd January 1991, however subject was registered on 17th October 1998.

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 51075, Amman

 

Membership No.          : 75305

 

National ID No.            : 200004762

 

Issued Capital              : JD 200,000

 

Paid up Capital            : JD 200,000

 

Name of Partner (s)

 

·       Sahel Mahmoud Mohewish Al Kubaisi

 

·       Abdul Jabar Moshin Zayad Al Kubaisi

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of cotton fabrics, bedding sets, towels and handkerchiefs.

Import Countries: China, India, Thailand, South Korea, Pakistan and Indonesia.

 

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 1,625,000                             JD 1,780,000

 

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

 

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

 

 

BANKERS

 

·       Arab Jordan Investment Bank

Ibn Hani Street

Shmeisani

PO Box: 8797

Amman 11121

Tel: (962-6) 5607126 / 5607138

Fax: (962-6) 5681482 / 5690646

 

 

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.49.03

UK Pound

1

Rs.76.60

Euro

1

Rs.66.80

 

 

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.