MIRA INFORM REPORT

 

 

Report Date :           

07.01.2012

 

IDENTIFICATION DETAILS

 

Name :

AL HAKAK MANUFACTURING COMPANY LTD

 

 

Registered Office :

Al Wakalat Street, Al Sweifieh Area, P O Box 190, Amman 11512

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

09.11.2005

 

 

Com. Reg. No.:

11028

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Manufacturers of detergents, liquid gel, soap and shampoo

 

 

No. of Employees :

18

 

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$ 150,000

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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                                     : AL HAKAK MANUFACTURING COMPANY LTD

Also Known As                                      : AL HAKAK MANUFACTURING & HOUSING COMPANY

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 9th November 2005

Commercial Registration Number                        : 11028

Chamber Membership Number                : 19593

National ID Number                                : 200009621

Issued Capital                                        : JD 200,000

Paid up Capital                                      : JD 200,000

Total Workforce                                     : 18

Activities                                               : Manufacturers of detergents, liquid gel, soap and shampoo.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 150,000

Person Interviewed                                 : Mohamed Al Zuraigim, Financial Controller

 

COMPANY NAME

 

AL HAKAK MANUFACTURING COMPANY LTD

 

 

ALSO KNOWN AS

 

AL HAKAK MANUFACTURING & HOUSING COMPANY

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Al Wakalat Street

Area                 : Al Sweifieh Area

PO Box             : 190

Town                 : Amman 11512

Country             : Jordan

Telephone         : (962-6) 5824881

Facsimile          : (962-6) 5821667

Email                : ekalfactory@yahoo.com

 

Premises

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

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       King Abdullah II Industrial City                                                            Factory premises

Sahab

Amman

Tel: (962-6) 4021349

Fax: (962-6) 4020580

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Mahdi Karim Saleh Al Hakak                                                              Managing Partner

 

·       Haider Karim Saleh Al Hakak                                                             Partner

 

·       Dirgham Karim Saleh Al Hakak                                                          Partner

 

·       Ahmed Karim Saleh Al Hakak                                                            Partner

 

·       Mohamed Al Zuraigim                                                                        Financial Controller

 

·       Zoya Hamouda                                                                                  Factory Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 9th November 2005

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 11028

 

Chamber Member No. : 19593

 

National ID No.            : 200009621

 

Issued Capital              : JD 200,000

 

Paid up Capital            : JD 200,000

 

Name of Partners

 

·       Mahdi Karim Saleh Al Hakak

 

·       Haider Karim Saleh Al Hakak

 

·       Dirgham Karim Saleh Al Hakak

 

·       Ahmed Karim Saleh Al Hakak

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of detergents, liquid gel, soap and shampoo.

 

Import Countries: Europe and the Far East.

 

Brand Names: EKAL

 

Operating Trend: Steady

 

Subject has a workforce of 18 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 2,185,000                             JD 2,310,000

 

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 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.52.78

UK Pound

1

Rs.81.79

Euro

1

Rs.67.46

 

 

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.