MIRA INFORM REPORT

 

 

Report Date :           

13.09.2011

 

IDENTIFICATION DETAILS

 

Name :

SOUSOU BROTHERS CO

 

 

Registered Office :

King Abdulla 1st Street, Mahatta, P O Box 689, Amman 11118

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

16.05.1967

 

 

Com. Reg. No.:

1217, Amman

 

 

Legal Form :

General Partnership

 

 

Line of Business :

Wholesalers and retailers of automotive components and related spare parts

 

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 :

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 – 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

 

 Bottom of Form

SUMMARY

 

Company Name                                     : SOUSOU BROTHERS CO

Country of Origin                                    : Jordan

Legal Form                                            : General Partnership

Start Date                                             : 1957

Registration Date                                   : 16th May 1967

Commercial Registration Number            : 1217, Amman

Chamber Membership Number                : 2713

National ID Number                                : 200017400

Partners Capital                                     : JD 5,000

Total Workforce                                     : 6

Activities                                               : Wholesalers and retailers of automotive components and related spare

                                                              parts.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 100,000

 

COMPANY NAME

 

SOUSOU BROTHERS CO

 

 

company ADDRESS

 

Registered & Physical Address

Street               : King Abdulla 1st Street

Area                 : Mahatta

PO Box             : 689

Town                 : Amman 11118

Country             : Jordan

Telephone         : (962-6) 4651740

Facsimile          : (962-6) 4651740

Mobile               : (962-79) 114442

 

Premises

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

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Salim Hana Salim Sousou                                                                 Managing Partner

 

·       Saliba Salim Sousou                                                                         Partner

 

·       Jenvive Najib Michael Sayes                                                               Partner

 

·       Nahla Hana Salim Sousou                                                                 Partner

 

·       Sari Hana Salim Sousou                                                                    Partner

 

·       Boutros Sousou                                                                                Commercial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : Subject’s operations date back to 1957, however it was registered on 16th May 1967.

 

Legal Form                  : General Partnership

 

Commercial Reg. No.  : 1217, Amman

 

Chamber Member No. : 2713

 

National ID No.            : 200017400

 

Partners Capital           : JD 5,000

 

Name of Partners

·       Salim Hana Salim Sousou

·       Saliba Salim Sousou

·       Jenvive Najib Michael Sayes

·       Nahla Hana Salim Sousou

·       Sari Hana Salim Sousou

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of automotive components and related spare parts.

 

Import Countries: Europe, Japan and the United States of America.

 

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 790,000                                JD 875,000

 

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

 

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the business is deemed a fair trade risk and the above credit figure is considered to be within subject’s financial means.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.97

UK Pound

1

Rs.74.22

Euro

1

Rs.63.66

 

 

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.