MIRA INFORM REPORT

 

 

Report Date :

08.08.2012

 

IDENTIFICATION DETAILS

 

Name :

FROZEN FOOD HOUSE CO WLL

 

 

Registered Office :

Building B, Office No. 207, 75 Wasfi Al Tal Street, P O Box 846, Amman 11953

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

26.08.2003

 

 

Com. Reg. No.:

7925

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Distributors of frozen foodstuffs

 

 

No. of Employees :

25

 

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

 

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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                                     : FROZEN FOOD HOUSE CO WLL

Country of Origin                                    : Jordan

Legal Form                                            : With Limited Liability – WLL

Registration Date                                   : 26th August 2003

Commercial Registration Number                        : 7925

Chamber Membership Number                : 103646

National ID Number                                : 200026989

Issued Capital                                        : JD 30,000

Paid up Capital                                      : JD 30,000

Total Workforce                                     : 25

Activities                                               : Distributors of frozen foodstuffs

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

 

COMPANY NAME

 

FROZEN FOOD HOUSE CO WLL

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Building B, Office No. 207

Street               : 75 Wasfi Al Tal Street

PO Box             : 846

Town                 : Amman 11953

Country             : Jordan

Telephone         : (962-6) 5532951 / 5520836 / 5520837

Facsimile          : (962-6) 5532952

Mobile               : (962-79) 5523890

Email                : info@frozenfoodhouse.com

 

Premises

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

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

·       Emad Eddine Abdulazim Khalf                                                           Managing Director

·       Yasser Abdulazim Khalf                                                                     Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 26th August 2003

 

Legal Form                  : With Limited Liability – WLL

 

Commercial Reg. No.  : 7925

 

Chamber Member No. : 103646

 

National ID No.            : 200026989

 

Issued Capital              : JD 30,000

 

Paid up Capital            : JD 30,000

 

Name of Shareholder (s)

·       Emad Eddine Abdulazim Khalf

·       Yasser Abdulazim Khalf

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of frozen foodstuffs.

 

Import Countries: Europe and the Far East.

 

Operating Trend: Steady

 

Subject has a workforce of 25 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Jordanian Dinars (JD)

 

                                                Year Ending 31/12/10:                Year Ending 31/12/11:

 

Total Sales                                JD 1,500,000                             JD 1,680,000

 

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.

 

 

GENERAL COMMENTS

 

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.50

UK Pound

1

Rs.86.40

Euro

1

Rs.68.69

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.