MIRA INFORM REPORT

 

 

Report Date :           

30.09.2011

 

IDENTIFICATION DETAILS

 

Name :

HEIRS OF SALEEM KHALIL KHARRAZ COMPANY

 

 

Registered Office :

Sahab Street, No. 16, King Abdullah 2nd Industrial Estate, P O Box 140, Amman 11512

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

29.05.2005

 

 

Com. Reg. No.:

10155, Amman

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of printing inks, primers, additives and thinners

 

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$ 250,000

 

 

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                         : HEIRS OF SALEEM KHALIL KHARRAZ COMPANY

Also Known As                                      : MEDIA INKS

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Company

Start Date                                             : 1990

Registration Date                                   : 29th May 2005

Commercial Registration Number            : 10155, Amman

Chamber Membership Number                : 1642

Issued Capital                                        : JD 435,000

Paid up Capital                                      : JD 435,000

Total Workforce                                     : 56

Activities                                               : Manufacture of printing inks, primers, additives and thinners.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Recommended Credit Limit                     : US$ 250,000

 

 

 

COMPANY NAME

 

HEIRS OF SALEEM KHALIL KHARRAZ COMPANY

 

 

ALSO KNOWN AS

 

MEDIA INKS

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Sahab Street, No. 16

Area                 : King Abdullah 2nd Industrial Estate

PO Box             : 140

Town                 : Amman 11512

Country             : Jordan

Telephone         : (962-6) 4022972 / 4023598

Facsimile          : (962-6) 4022973

Mobile               : (962-79) 5402411

Email                : info@mediainks.com

 

Premises

Subject operates from a medium sized suite of offices and a factory that are rented and located in the Industrial Area of Amman.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Khalil Salim Khalil Kharraz                                                                 Managing Director

 

·       Raed Salim Khalil Kharraz                                                                 Director

 

·       Enam Salim Khalil Kharraz                                                                Director

 

·       Randa Wael Barghouti                                                                       Director

 

·       Hasan Abu Ghosh                                                                             Commercial Manager

 

·       Bilal Omar                                                                                        Production Manager

 

·       Sami Bader                                                                                      Finance Manager

 

·       Omar Al Tabasi                                                                                 Financial Controller

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : Subject’s operations date back to 1990, however it was registered on 29th May 2005

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 10155, Amman

 

Chamber Member No. : 1642

 

National ID No.            : 200021038

 

Issued Capital              : JD 435,000

 

Paid up Capital            : JD 435,000

 

Name of Shareholder (s)                                              Percentage

 

·       Khalil Salim Khalil Kharraz                                              33.7%

 

·       Raed Salim Khalil Kharraz                                              33.7%

 

·       Enam Salim Khalil Kharraz                                             19.7%

 

·       Randa Wael Barghouti                                                    12.9%

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of printing inks, primers, additives and thinners.

 

Import Countries: Germany, United Kingdom, India and the United States of America

 

Export Countries: Yemen, Syria, Iraq, Sudan, Algeria and Egypt

 

Operating Trend: Steady

 

Subject has a workforce of 56 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 2,450,000                             JD 2,700,000

 

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

Abu Nameh Building

Jabal Amman

PO Box: 2711

Amman

Tel: (962-6) 5629479

Fax: (962-6) 5655812

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              March 2007

Credit amount                                        150,000

Amount overdue                         0

Payment terms                                      60 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               US Dollars

 

 

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 deemed to be within subject’s financial means.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.93

UK Pound

1

Rs.76.52

Euro

1

Rs.66.65

 

 

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.