MIRA INFORM REPORT

 

 

Report Date :

24.07.2012

 

IDENTIFICATION DETAILS

 

Name :

EAST MEDITERRANEAN FOR PRINTING INKS LTD

 

 

Registered Office :

Wadi Al Ash Street, Industrial Area, P O Box 392, Zarqa 13110

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

24.06.1996

 

 

Com. Reg. No.:

4484

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Production of inks and ink solvents

 

 

No. of Employees :

48

 

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                                     : EAST MEDITERRANEAN FOR PRINTING INKS LTD

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Company

Registration Date                                   : 24th June 1996

Commercial Registration Number            : 4484

Chamber Membership Number                : 1102

National ID Number                                : 200024635

Issued Capital                                        : JD 1,500,000

Paid up Capital                                      : JD 1,500,000

Total Workforce                                     : 48

Activities                                               : Production of inks and ink solvents.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

 

COMPANY NAME

 

EAST MEDITERRANEAN FOR PRINTING INKS LTD

 

 

Company ADDRESS

 

Registered & Physical Address

Street               : Wadi Al Ash Street

Area                 : Industrial Area

PO Box             : 392

Town                 : Zarqa 13110

Country             : Jordan

Telephone         : (962-5) 3651925 / 3651925

Facsimile          : (962-5) 3651927

Mobile               : (962-79) 5857878 / 5143459

Email                : info@empiink.com

 

Premises

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

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

·       Haytham Mamdouh Al Safadi                                                             Chairman

 

·       Nabil Mustafa Shehata                                                                       Managing Director

 

·       Ahmed Salem Abu Kharama                                                              Director

 

·       Mohamed Ahmed Al Azzb                                                                 Director

 

·       Saeed Mohamed Al Masood                                                              Director

 

·       Omar Mohamed Al Masood                                                                Director

 

·       Waleed Mohamed Al Jaml                                                                 Director

 

·       Fakhri Hassan Al Hindawi                                                                  Director

 

·       Mostafa Ahmed Ali                                                                            Director

 

·       Magdi Mohamed Ibrahim Ali                                                               Director

 

·       Saad Rajab Saad                                                                              Director

 

·       Tariq Yonas Al Yonas                                                                        Director

 

·       Khatlan Ahmed Mostafa                                                                     Director

 

·       Khola Ahmed Al Nobani                                                                     Director

 

·       Tariq Yonas                                                                                      General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 24th June 1996

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 4484

 

Chamber Member No. : 1102

 

National ID No.            : 200024635

 

Issued Capital              : JD 1,500,000

 

Paid up Capital            : JD 1,500,000

 

Name of Shareholder (s)

 

·       Haytham Mamdouh Al Safadi

 

·       Nabil Mustafa Shehata

 

·       Ahmed Salem Abu Kharama

 

·       Mohamed Ahmed Al Azzb

 

·       Saeed Mohamed Al Masood

 

·       Omar Mohamed Al Masood

 

·       Waleed Mohamed Al Jaml

 

·       Fakhri Hassan Al Hindawi

 

·       Mostafa Ahmed Ali

 

·       Magdi Mohamed Ibrahim Ali

 

·       Saad Rajab Saad

 

·       Tariq Yonas Al Yonas

 

·       Khatlan Ahmed Mostafa

 

·       Khola Ahmed Al Nobani

 

·       Heirs of Rajab Saleem Al Saad

 

 

OPERATIONS

 

Activities: Engaged in the production of inks and ink solvents for use in the printing industry, including flexographic and gravure packaging printing inks, varnishes, primers and thinners.

 

Import Countries: United Kingdom, France and Germany

 

Brand Names: EASTMED

 

Operating Trend: Steady

 

Subject has a workforce of 48 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 5,230,000                             JD 5,900,000

 

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

 

·       Jordan National Bank

PO Box: 1578

Amman

Tel: (962-6) 4612391

 

·       Islamic International Arab Bank

King Talal Street

Zarqa

Tel: (962-5) 3989094

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              January 2006

Amount overdue                                     0

Payment terms                                      90 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               Pounds Sterling

 

 

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.55.76

UK Pound

1

Rs.86.80

Euro

1

Rs.67.43

 

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.