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Report No. : |
356330 |
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Report Date : |
29.12.2015 |
IDENTIFICATION DETAILS
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Name : |
GOLDEN TEXTILE FACTORY |
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Registered Office : |
Sahab Industrial Area, PO Box 183223, Amman 11118 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
16.03.1994 |
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Com. Reg. No.: |
52293 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the manufacture of synthetic cloth such as uniforms,
sportswear and workwear. |
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No. of Employees : |
10 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 and resulting government
debt. King ABDALLAH, during the first decade of the 2000s, implemented
significant economic reforms, such as opening up foreign trade and privatizing
state-owned companies that attracted foreign investment and contributed to
average annual economic growth of 8% for 2004 through 2008. The global economic
slowdown and regional turmoil since, however, reduced the average annual growth
rate to 2.6% for the 2010-2013 period and hurt export-oriented sectors,
construction, and tourism. Jordan's finances have 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.
To diversify its energy mix, Jordan is currently exploring nuclear power
generation, exploitation of abundant oil shale reserves and renewable
technologies, as well as the import of Israeli offshore gas. In August 2012, to
correct budgetary and balance of payments imbalances, Jordan entered into a
$2.1 billion, three year International Monetary Fund Stand-By Arrangement. In
2014, fiscal reform measures enacted in the previous few years continued to
boost government revenues and reduced the budget deficit even as an influx of
over 620,000 Syrian refugees since 2011 put additional pressure on
expenditures.
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Source
: CIA |
Company Name :
GOLDEN TEXTILE FACTORY
Country of Origin :
Jordan
Legal Form :
Limited Liability Partnership
Registration Date :
16th March 1994
Commercial Registration Number :
52293, Amman
National ID Number :
20000243
Issued Capital :
JD 50,000
Paid up Capital :
JD 50,000
Total Workforce : 10
Activities :
Manufacturers of synthetic cloth
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
GOLDEN TEXTILE FACTORY
Registered &
Physical Address
Location : Sahab
Industrial Area
PO Box :
183223
Town : Amman 11118
Country : Jordan
Telephone : (962-6) 4650907
Facsimile : (962-6)
4650907
Mobile : (962-78)
7374110 / (962-79) 5058521
Email : golden_textile@yahoo.com
Premises
Subject operates from a small suite of offices and a workshop that are
rented and located in the Industrial Area of Amman.
Branch Office (s)
Location Description
Saqf Al Sail Showroom
premises
Amman
Tel: (962-78) 7374110
Name Position
Yasin Ahmed Al Bulbul Managing
Partner
Zakarya Ahmed Al Bulbul Partner
Zaynab Ahmed Al Bulbul Partner
& Commercial Manager
Mahdi Al Bulbul Sales
Manager
Date of Establishment : 16th
March 1994
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 52293, Amman
National ID No. : 20000243
Issued Capital : JD 50,000
Paid up Capital : JD 50,000
Name of Partners
Yasin Ahmed Al Bulbul
Zakarya Ahmed Al Bulbul
Zaynab Ahmed Al Bulbul
Activities: Engaged in the manufacture of synthetic cloth such as uniforms,
sportswear and workwear.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 10 employees.
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
1,610,000 JD
1,785,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
ANZ Grindlays Bank
Shmeisani Branch
PO Box: 9997
Amman
Tel: (962-6) 4660201
Fax: (962-6) 4679115
No complaints regarding subject’s payments have been reported.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.13 |
|
|
1 |
Rs.98.69 |
|
Euro |
1 |
Rs.72.55 |
|
JD |
1 |
Rs.93.65 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
AMR |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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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 |
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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 |
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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 |
-- |
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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.