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Report No. : |
345256 |
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Report Date : |
20.10.2015 |
IDENTIFICATION DETAILS
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Name : |
JAWDI SINNOKRAT & SONS CO |
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Registered Office : |
Petra Street, Textile Market, Amman |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
1994 |
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Com. Reg. No.: |
54150 |
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Legal Form : |
General Partnership |
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Line of Business : |
Engaged in the wholesale and retail of textiles and fabrics. |
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No. of Employees : |
8 |
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 :
JAWDI SINNOKRAT & SONS CO
Country of Origin :
Jordan
Legal Form :
General Partnership
Start Date :
1994
Registration Date :
18th October 1999
Commercial Registration Number :
54150, Amman
National ID Number :
200027060
Partners Capital :
JD 5,000
Total Workforce :
8
Activities :
Wholesale and retail of textiles and fabrics.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Audi Jawdi Hamed Abdulraman Sinnokrat, Managing Partner
JAWDI SINNOKRAT & SONS CO
Registered &
Physical Address
Street : Petra Street
Area : Textile
Market
Town : Amman
Country : Jordan
Telephone : (962-6) 4623649
/ 4611536
Facsimile : (962-6)
4611536
Mobile : (962-79)
5557678
Email : js_tex@hotmail.com
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Amman.
Name Position
Audi Jawdi Hamed Abdulraman Sinnokrat Managing
Partner
Mutaz Jawdi Hamed Abdulraman Sinnokrat Partner
Jawdi Hamed Abdulraman Sinnokrat Partner
Date of Establishment : Subject's
operations date back to 1994, however it was registered on 18th
October 1999
Legal Form : General Partnership
Commercial Reg. No. : 54150, Amman
National ID No . : 200027060
Partners Capital : JD 5,000
Name of Partners
(s) Percentage
Jawdi Hamed Abdulraman Sinnokrat 33.34%
Audi Jawdi Hamed Abdulraman Sinnokrat 33.34%
Mutaz Jawdi Hamed Abdulraman Sinnokrat 33.32%
Activities: Engaged in the wholesale and retail of textiles and fabrics.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 8 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
1,115,000 JD
1,270,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Cairo Amman Bank
Shabsough Street
PO Box: 715
Amman
Tel: (962-6) 5639321 / 5623100 / 5623109
Fax: (962-6) 5639328
No complaints regarding subject’s payments have been reported.
Please note that the correct name of the subject is “Jawdi Sinnokrat
& Sons Co” and not “Jawdi Sannokrot and Sons Co”.
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.82 |
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|
1 |
Rs.100.12 |
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Euro |
1 |
Rs.73.75 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.