MIRA INFORM REPORT

 

 

Report No. :

353387

Report Date :

08.12.2015

 

IDENTIFICATION DETAILS

 

Name :

MOHAMED IBRAHIM AL HINDI & MALAZ HAMDAN

 

 

Formerly Known As :

MOHAMED & AHMED AL HINDI

 

 

Registered Office :

Rawhi Qaddomi Building, 2nd Floor, Ain Ghazal Street, Tariq Area, Abu Alia

PO Box, 460152, Amman 11946

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

25.07.2006

 

 

Com. Reg. No.:

66824

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Subject is engaged in the import and distribution of chemical raw materials for the paint industry.

 

 

No. of Employee :

12

 

 

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 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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                                    : MOHAMED IBRAHIM AL HINDI & MALAZ HAMDAN

Also Known As                                     : NEW CHEMICALS FOR TRADE & INDUSTRY

Country of Origin                                   : Jordan

Legal Form                                           : Limited Liability Company

Registration Date                                  : 25th July 2006

Commercial Registration Number           : 66824

Chamber Membership Number               : 126925

National ID Number                               : 200021743

Issued Capital                                       : JD 30,000

Paid up Capital                                     : JD 30,000

Total Workforce                                     : 12

Activities                                               : Distributors of chemical raw materials

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

 

 

COMPANY NAME

 

MOHAMED IBRAHIM AL HINDI & MALAZ HAMDAN

 

ALSO KNOWN AS: NEW CHEMICALS FOR TRADE & INDUSTRY

 

 

ADDRESS

 

Registered & Physical Address

 

Building            : Rawhi Qaddomi Building, 2nd Floor

Street               : Ain Ghazal Street

Area                 : Tariq Area, Abu Alia

PO Box            : 460152

Town                : Amman 11946

Country             : Jordan

 

Telephone         : (962-6) 5058835 / 4906070 / 5066646

Facsimile          : (962-6) 5066647

Mobile              : (962-79) 5559357

Email                : new-chemical@umniahlive.net / g-chem@nets.com.jo / localsale2@generationchemical.com

 

Premises

 

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

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Mohamed Ibrahim Mohamed Al Hindi                                                 Managing Director

 

·       Malaz Hassan Mohamed Hamdan                                                      Director

 

·       Douaa Al Adwan                                                                               Sales Manager

 

·       Sara Mehyar                                                                                     Sales Executive

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 25th July 2006

 

History                         : Subject began in 2006 under the name “Mohamed & Ahmed Al Hindi”. On 14th October 2012

Mr Ahmed Al Hindi withdrew from the subject and subsequently the name was changed to  “Mohamed Ibrahim Al Hindi & Malaz Hamdan”.

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.   : 66824

 

Chamber Member No.  : 126925

 

VAT No.                       : 2941252

 

National ID No.             : 200021743

 

Issued Capital              : JD 30,000

 

Paid up Capital            : JD 30,000

 

Name of Shareholder (s)                                                     Percentage

 

·       Malaz Hassan Mohamed Hamdan                                          80%

 

·       Mohamed Ibrahim Mohamed Al Hindi                                     20%

 

 

AFFILIATED COMPANIES

 

·       Generation Chemicals For Trade & Distribution

Amman

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of chemical raw materials for the paint industry.

 

Import Countries: China, Canada and the United States of America.

 

International Suppliers:

 

·       U S Silica                             United States of America

·       S & A Blackwell                    Canada

·       Glassven                              China

·       Chemix                                China

 

Operating Trend: Steady

 

Subject has a workforce of 12 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Jordanian Dinars (JD)

 

                                                Year Ending 31/12/13:              Year Ending 31/12/14:

 

Total Sales                                JD 3,100,000                             JD 3,745,000

 

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

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       HSBC Bank Middle East

Khalid Bin Walid Street

Jebel Hussein

PO Box: 925286

Amman

Tel: (962-6) 5660471 / 5607471

Fax: (962-6) 5692964

 

·       Arab Jordan Investment Bank

Ibn Hani Street

Shmeisani

PO Box: 8797

Amman 11121

Tel: (962-6) 5607126 / 5607138

Fax: (962-6) 5681482 / 5690646

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

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.66.63

UK Pound

1

Rs.100.65

Euro

1

Rs.72.40

JOD

1

Rs. 94.16

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

ASH

 

 

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.