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Report Date : |
28.06.2012 |
IDENTIFICATION DETAILS
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Name : |
GULF CABLE & MULTI INDUSTRIES CO |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
03.02.2008 |
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Com. Reg. No.: |
150 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturer of cables |
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No. of Employees : |
180 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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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 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company Name : GULF CABLE & MULTI INDUSTRIES CO
Country of Origin : Jordan
Legal Form : Limited Liability Company
Registration Date : 3rd February 2008
Commercial Registration Number : 150
Chamber Membership Number : 20767
Issued Capital : JD 17,380,000
Paid up Capital : JD 17,380,000
Total Workforce : 180
Activities : Manufacturer of cables.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Person Interviewed : Rashid Al Hindi, Finance Manager
GULF CABLE &
MULTI INDUSTRIES CO
Registered &
Physical Address
Street : Mecca Street
Area : Tela Al Ali Area
PO Box : 17938
Town : Amman 11195
Country : Jordan
Telephone : (962-6) 5524143 / 5524145 / 5524144
Facsimile : (962-6) 5524145 / 5623462
Mobile : (962-79) 554465 / 6962860
Email : jordan@gulfcable.com
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Amman.
Branch Office (s)
Location Description
·
Base
No. 4, Block No. 285 Owned
factory premises
Al Khalidiya Street
Al Zatari Area
Al Husainyat Village
PO Box: 80
Al Mafraq 25110
Tel: (962-2) 6234629 / 6234634
/ 6233135 / 6234630
Fax: (962-2) 6234630 / 6234627
Name Nationality Position
·
Bader Nasser Al Khorafi Kuwaiti Chairman
·
Khaled Al Olayan Saudi Director
·
Abdul
Razzaq Al Zubayaan - Director
·
Koutaiba Al Koul - General
Manager
·
Bassel
Attar - Assistant
General Manager
·
Walid Kaid - Purchasing
Manager
·
Rashid Al Hindi - Finance
Manager
·
Bahjat
Jabr - Regional
Manager
·
Daas
Idris - Marketing
Manager
Date of Establishment : 3rd
February 2008
Legal Form :
Limited Liability Company
Commercial Reg. No. : 150
Chamber Member No. : 20767
Issued Capital : JD 17,380,000
Paid up Capital : JD 17,380,000
Name of Shareholder
(s) Percentage
·
Gulf Cable & Electric Industries 95.5%
Safat
Kuwait
·
Nemco Co 4.5%
Amman
Activities: Engaged in the manufacture of cables for
low, medium and high voltage uses as well as related
accessories.
Import
Countries: Netherlands and
the United Kingdom
Subject has a
workforce of approximately 180 employees.
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 38,330,000 JD 39,500,000
Local sources consider
subject’s financial condition to be Good.
The above figures
were provided by Mr Rashid Al Hindi, Finance Manager
·
HSBC
Bank Middle East
Khalid Bin Walid Street
Jebel Hussein
PO Box: 925286
Amman
Tel: (962-6) 5660471 / 5607471
Fax: (962-6) 5692964
No complaints
regarding subject’s payments have been reported.
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 and the above credit figure is within
subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.57.22 |
|
UK Pound |
1 |
Rs.89.42 |
|
Euro |
1 |
Rs.71.46 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.