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Report Date : |
14.01.2014 |
IDENTIFICATION DETAILS
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Name : |
GOLDEN BIRD FOOD INDUSTRIES |
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Registered Office : |
Building No. 39, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
08.06.2004 |
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Com. Reg. No.: |
8906 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the manufacture
of soup, chicken and beef stock cubes, Bouillon cubes and food flavourings. |
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No. of Employees : |
28 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 |
Jordan ECONOMIC OVERVIEW
Jordan's
economy is among the smallest in the Middle East, with insufficient supplies of
water, oil, and other natural resources, underlying the government's heavy
reliance on foreign assistance. Other economic challenges for the government
include chronic high rates of poverty, unemployment, inflation, and a large
budget deficit. Since assuming the throne in 1999, King ABDALLAH has
implemented significant economic reforms, such as opening the trade regime,
privatizing state-owned companies, and eliminating some fuel subsidies, which
in the last decade spurred economic growth by attracting foreign investment and
creating some jobs. The global economic slowdown and regional turmoil, however,
have depressed Jordan''s GDP growth, impacting export-oriented sectors,
construction, and tourism. In 2011 and 2012, the government approved two
economic relief packages and a budgetary supplement, meant to improve the
living conditions for the middle and poor classes. Jordan''s finances have also
been strained by a series of natural gas pipeline attacks in Egypt, causing
Jordan to substitute more expensive diesel imports, primarily from Saudi
Arabia, to generate electricity. Jordan is currently exploring nuclear power
generation in addition to the exploitation of abundant oil shale reserves and
renewable technologies to forestall energy shortfalls. In 2012, to correct
budgetary and balance of payments imbalances, Jordan entered into a $2.1
billion, multiple year International Monetary Fund Stand-By Arrangement.
Jordan''s financial sector has been relatively isolated from the international
financial crisis because of its limited exposure to overseas capital markets.
Jordan will continue to depend heavily on foreign assistance to finance the
deficit in 2013.
|
Source : CIA |
Company Name : GOLDEN BIRD FOOD INDUSTRIES
Country of Origin : Jordan
Legal Form : Limited Liability Partnership
Registration Date : 8th June 2004
Commercial Registration Number : 8906
Chamber Membership Number : 16329
National ID Number : 200025019
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
Total Workforce : 28
Activities : Manufacturers of soup, chicken and beef stock cubes, Bouillon cubes
and food flavourings
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ragheeb Attiya, Financial Controller
GOLDEN BIRD FOOD
INDUSTRIES
Registered &
Physical Address
Building : Building No. 39
Street : Mohamed Khair Awad
Street
Area : Al Mokablen, Al Quesena
PO Box : 926425
Town : Amman 11190
Country : Jordan
Telephone : (962-6) 4206968
Facsimile : (962-6) 4206968
Mobile : (962-79) 5886140 / 266202
Email : info@goldenbird.jo
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Amman.
Name Position
·
Ibrahim
Rashid Abdul Moniem Al Joba Managing
Partner
·
Samer
Mohamed Mahmoud Al Haj Masoud Partner
·
Mahmoud
Masood Administration
Manager
·
Ragheeb Attiya Financial
Controller
Date of Establishment : 8th
June 2004 (Production began in October 2004)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 8906
Chamber Member No. : 16329
National ID No. : 200025019
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
Name of Partners
·
Ibrahim
Rashid Abdul Moniem Al Joba
·
Samer
Mohamed Mahmoud Al Haj Masoud
Activities: Engaged in the manufacture of soup, chicken
and beef stock cubes, Bouillon cubes and food flavourings.
Import
Countries: Europe and the
Far East.
Brand Names: GOLDEN CHICKEN, ZAGHLOUL and JAMEEDCO
Operating Trend: Steady
Subject has a
workforce of 28 employees.
Financial
highlights provided by local sources are given below:
Currency: Jordanian
Dinars (JD)
Year
Ending 31/12/12: Year Ending
31/12/13:
Total Revenue JD 1,550,000 JD 1,800,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Ragheeb Attiya, Financial Controller
·
Bank of
Jordan Ltd
King Hussain Street
PO Box: 37
Amman
Tel: (962-6) 5630301
Fax: (962-6) 5638889
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
|
1 |
Rs.101.48 |
|
Euro |
1 |
Rs.84.11 |
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 |
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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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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 |
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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 |
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<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.