|
Report No. : |
325307 |
|
Report Date : |
06.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
STANDARD JEANS APPAREL MANUFACTURING CO |
|
|
|
|
Registered Office : |
Sector 26, Plot No. 214, Soof Street, Al Hassan Industrial City, Qualified
Industrial Zone, P O Box 87, Irbid |
|
|
|
|
Country : |
Jordan |
|
|
|
|
Date of Incorporation : |
16.06.2008 |
|
|
|
|
Com. Reg. No.: |
17209 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Engaged in the manufacture of jeans and related apparel. |
|
|
|
|
No. of Employees : |
3,000 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Jordan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 2000s implemented significant economic reforms,
such as opening the trade regime 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.
|
Source
: CIA |
Company Name :
STANDARD JEANS APPAREL MANUFACTURING CO
Country of Origin :
Jordan
Legal Form :
Limited Liability Company
Registration Date :
16th June 2008
Commercial Registration Number :
17209, Irbid
National ID Number :
200098493
Issued Capital :
JD 500,000
Paid up Capital :
JD 500,000
Total Workforce :
3,000
Activities :
Manufacture of jeans and related apparel.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Mohamed Al Tal, Human Resources Manager
STANDARD JEANS APPAREL MANUFACTURING CO
Registered &
Physical Address
Building : Sector 26,
Plot No. 214
Street : Soof Street
Area : Al Hassan
Industrial City, Qualified Industrial Zone
PO Box : 87
Town : Irbid
Country : Jordan
Telephone : (962-2) 7391369
Facsimile : (962-2) 7391368
Mobile : (962-77) 5757118 / 5757257
Email : madhu@cfaiteam.com
Premises
Subject operates from a large suite of offices that are rented and
located in the Industrial Area of Irbid.
Name Nationality Position
Santha Kumari Sanal Krishnan Nair Indian Managing Director
Ajay Krishnan Indian Director
Radha Krishnan Potrikal Indian Director
Madhu Nair - General
Manager
Mohamed Al Tal - Human
Resources Manager
Veno Gopal - Financial
Manager
Date of Establishment : 16th
June 2008
Legal Form : Limited Liability
Company
Commercial Reg. No. : 17209, Irbid
National ID No. : 200098493
Issued Capital : JD 500,000
Paid up Capital : JD 500,000
Name of
Shareholder (s) Percentage
Santha Kumari Sanal Krishnan Nair 40%
Ajay Krishnan 40%
Radha Krishnan Potrikal 20%
Classic Fashion Apparel Industry City
Al Hassan Industrial City, Qualified Industrial Zone
Irbid
Activities: Engaged in the manufacture of jeans and related apparel.
Import Countries: Europe and the Far East
Subject has a workforce of approximately 3,000 employees.
Companies registered in Jordan are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
Egyptian Arab Land Bank
Baghdad Street
PO Box: 110
Irbid 21110
Tel: (962-6) 242200 / 242209
Fax: (962-6) 242142
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 company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.90 |
|
|
1 |
Rs.71.82 |
|
Euro |
1 |
Rs.97.97 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.