MIRA INFORM REPORT

 

 

Report Date :

15.06.2012

 

IDENTIFICATION DETAILS

 

Name :

YOUSEF NADER & SONS CO LTD (NADERCO)

 

 

Registered Office :

Building No. 12, Al Loz Street, Al Yasmeen District, P O Box 6867, Amman 11118

 

 

Country :

Jordan

 

 

Financials (as on) :

 31.12.2011

 

 

Year of Establishment :

1988

 

 

Com. Reg. No.:

44091, Amman

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Distributors of general foodstuffs

 

 

No. of Employees :

500

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

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                         : YOUSEF NADER & SONS CO LTD (NADERCO)

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Company

Start Date                                             : 1988

Registration Date                                   : 20th August 1996

Commercial Registration Number            : 44091, Amman

Chamber Membership Number                : 20552

National ID Number                                : 200025215

Issued Capital                                        : JD 1,000,000

Paid up Capital                                      : JD 1,000,000

Total Workforce                         : 500

Activities                                               : Distributors of general foodstuffs.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

 

 

 

COMPANY NAME

 

YOUSEF NADER & SONS CO LTD (NADERCO)

 

 

company ADDRESS

 

Registered & Physical Address

Building : Building No. 12

Street               : Al Loz Street

Area                 : Al Yasmeen District

PO Box             : 6867

Town                 : Amman 11118

Country : Jordan

Telephone         : (962-6) 4204624 / 4206010

Facsimile          : (962-6) 4204625

Email                : y.n.administration@ynsc-jo.com / yns@nadergroup.com

 

Premises

 

Subject operates from a large suite of offices and a warehouse that are rented and located in the Suburban Business Area of Amman.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Al Loz Street                                                                                                Rented warehouse premises

PO Box: 20786

Muqablain

Amman

Tel: (962-6) 4424624 / 4200191

 

·       Irbid                                                                                                 Rented warehouse premises

Tel: (962-2) 7101428

 

·       Commercial Area No. 3                                                                      Rented warehouse premises

Aqaba

Tel: (962-3) 2018450

Fax: (962-3) 2032790

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Yousef Albert Nader                                                                          Managing Director

 

·       Ramzi Yousef Albert Nader                                                                Director

 

·       Kamil Yousef Albert Nader                                                                 Director

 

·       Tania Yousef Albert Nader                                                                  Director

 

·       Samia Yousef Albert Nader                                                                Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment: 1988, however subject was registered on 20th August 1996

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 44091, Amman

 

Chamber Member No.: 20552

 

National ID No.            : 200025215

 

Issued Capital              : JD 1,000,000

 

Paid up Capital            : JD 1,000,000

 

Name of Shareholder (s)

·       Yousef Albert Nader

·       Ramzi Yousef Albert Nader

·       Kamil Yousef Albert Nader

·       Tania Yousef Albert Nader

·       Samia Yousef Albert Nader

 

 

AFFILIATED COMPANIES

 

·       Modern Arabian Distribution Co Ltd

Al Loz Street

Muqablain

PO Box: 20786

Amman 11118

Tel: (962-6) 4200191

Fax: (962-6) 4201193

 

·       Arabian Italian Trading Co Ltd

Al Loz Street

Muqablain

PO Box: 20786

Amman 11118

Tel: (962-6) 4206102

Fax: (962-6) 4206102

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of general foodstuffs, including milk, cheese, oil and grocery items.

 

Subject is also engaged in the packaging of sugar.

 

Import Countries: United Kingdom, Italy, Poland, Turkey, Brazil, the United States of America, Australia and

                 Singapore.

 

International Suppliers:

 

·       British Steel                          United Kingdom

·       Stalexport                             Poland

·       BHP                                     Australia

·       E.D. & F Man (Sugar) Ltd      United Kingdom

·       Rice Growers Co-operative     Australia

·       Kouk Oils & Grains Pte Ltd    Singapore

·       Barila Pasta                          Italy

·       Sun White Rice                     Australia

·       Maxim Foodstuff                   Brazil

·       ADM Oil (USA)                     United States of America

 

Export Countries: Iraq

 

Operating Trend: Steady

 

Subject has a workforce of approximately 500 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: United States Dollars (US$)

                                                           

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

 

Total Sales                                US$ 50,000,000             US$ 53,200,000

 

Local sources consider subject’s financial condition to be Good.

 

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

 

·       HSBC Bank Middle East

Khalid Bin Walid Street

Jebel Hussein

PO Box: 925286

Amman

Tel: (962-6) 5660471 / 5607471

Fax: (962-6) 5692964

 

 

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.55.79

UK Pound

1

Rs.86.37

Euro

1

Rs.70.07

 

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.