MIRA
INFORM REPORT
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Report Date : |
16.08.2007 |
IDENTIFICATION DETAILS
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Name : |
GOLDEN WAVES FOR
TRADING & INVESTMENT CO LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
29th May 2001 |
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Com. Reg. No.: |
6714, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the wholesale
and retail of coffee beans and spices. |
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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Maximum Credit Limit : |
US$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : GOLDEN WAVES FOR TRADING & INVESTMENT CO LTD
Country of Origin :
Legal Form : Limited Liability Company
Registration Date : 29th May 2001
Commercial Registration Number :
6714,
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
Total Workforce : 8
Line of Business : Wholesalers and retailers of coffee beans and spices.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
GOLDEN WAVES FOR
TRADING & INVESTMENT CO LTD
ADDRESS
Registered & Physical Address
Building :
Street : Shareef Naser Ben Jameel
Area : Shmeisani
PO Box : 941902
Town :
Country :
Telephone : (962-6) 5680690
Facsimile : (962-6) 5678652
Email : golden-waves@wanadoo.jo
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Amman.
KEY PRINCIPALS
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Ghassan
Shakeeb Rasheed Khirfan Managing
Director
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Nader Shakeeb
Rasheed Khirfan Director
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Bassam
Shakeeb Rasheed Khirfan Director
LEGAL FORM &
OWNERS
Date of Establishment : 29th
May 2001
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (Limited
Liability Company)
Commercial Reg. No. : 6714,
Issued Capital : JD 30,000
Paid up Capital : JD 30,000
Name of Shareholder
(s)
Percentage
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Ghassan
Shakeeb Rasheed Khirfan 33.33%
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Nader
Shakeeb Rasheed Khirfan 33.33%
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Bassam
Shakeeb Rasheed Khirfan 33.33%
Note to the Legal Form
A Limited Liability Company is defined in the Company Law as a company incorporated with a minimum of two and maximum of fifty shareholders, each responsible only for the liabilities of the company to the extent of their share participation in the capital of the company.
AFFILIATED COMPANIES
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Shakeeb
Khirfan Group for Trading, Industry & Investment
LINE OF BUSINESS
Operations : Engaged in the wholesale and retail of
coffee beans and spices.
Import Countries
:
Operating Trend
: Steady
Subject has a
workforce of 8 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency :
Jordanian Dinars (JD)
Year
Ending 31/12/05 : Year
Ending 31/12/06 :
Total Revenue JD 1,418,000 JD
1,772,500
Total Assets JD 990,000 JD 990,000
Stock JD 354,500 JD 376,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Jordan
Investment & Finance Bank
Shmeisani Branch
PO Box : 950601
Tel : (962-6) 5665145 /
5692470
Fax : (962-6) 5681410
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 2001,
subject is involved in the wholesale and retail of coffee beans and spices.
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.
Maximum suggested
credit figure: US$ 200,000
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)