MIRA INFORM REPORT

 

 

Report Date :

08.07.2011

 

IDENTIFICATION DETAILS

 

Name :

INTERNATIONAL GOLDEN FOODS, INC.

 

 

Registered Office :

819 Industrial Dr, Bensenville, Illinois 60106

 

 

Country :

United States

 

 

Date of Incorporation :

03.10.1986

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Food products distributor and manufacturer

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

EUR 30,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

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 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

United States

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

GEOPOLITICS - UNITED STATES

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: USD
Branch Situation: Stable

 

 

IDENTIFICATION

 

Legal Name:

INTERNATIONAL GOLDEN FOODS, INC.

 

 

Legal Address

819 INDUSTRIAL DR, BENSENVILLE, ILLINOIS 60106  , USA

 

 

Telephone:

+1 (630) 860-5552

ID :

54402414

Fax:

+1 (630) 860-0855

Legal Form:

Corporation for Profit

Email:

info@goldenfood.com

Registered in:

Illinois

Website:

http://www.goldenfood.com

Date Created:

1986

Manager:

MANSOUR C AMIRAN, President

Date Incorporated:

October 3, 1986

Staff:

15

Stock:

NA

 

 

Value:

NA

Activity:

Food products distributor and manufacturer

 

 

BANKS

 

Name of the Bank

JPMORGAN CHASE BANK, NA

 

Name of the Bank

CITIBANK,

 

Name of the Bank

AMALGAMATED BANK

BUSINESS

 

HISTORY

 

International Golden Foods, Inc in Bensenville, IL is a private company categorized under Rice, Polished. Our show it was established in 1986 and incorporated in Illinois.

 

PRINCIPAL ACTIVITY

 

The company is a food distributor and manufacturer of golden Brand products.

 

They also arrange drop shipments for large orders.

 

 

 

 

Products/Services description:

 

The company offers the following products:

 

Golden parabolid rice

Akanter (tahini and Halwa)

Beans and vegetables

Aromatic indian basmatic rice

Olives

 

Among others...

Sales are:

 

Wholesale

Brands:

 

Own Brands:

Golden Rice

Golden Cucumbers

Golden Lokum

Golden Choice products

 

Among others..

 

Other brands distributed by the company:

Royal

Pari

Cortas

Cedar

Yavne

 

Among others...

Clients:

 

National Chain Stores and food service outlets

Operations area:

 

 

Trade references:         

 

 

 

National, International

 

Despite our long searches we were unable to confirm the trade references with the staff.

The company imports from Turkey ,Lebanon, India.

The subject employs 15 employee(s)

PAYMENTS

 

made on a 60 days basis - monitored over the last 12 months

 

 

Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

This is a private company and the main shareholder is MANSOUR C AMIRAN.

Management:

 

MANSOUR C AMIRAN, PRESIDENT

GEORGE AVANSEIN, DIRECTOR

 

 




Financials - COMMERCIAL TRENDS AND FORECAST

 

As a private company the subject does not publish any financial statements.

We have contacted Sonny who refused to provide us any financial data on grounds of confidentiality.

However our financial sources could provide us with the following data (estimates):

 

The company is involved in trading. Its volume of transaction may be much higher than its own income listed below.

Currency

DATE

 

USD

2010

 

Turnover

$2,900,000

 

 

Currency

DATE

USD

2008

Turnover

2,700,000

The cash flow is

Normal




 

 




Legal Fillings

 There are several UCC files listed with the Secretary of State of Illinois.

 

Filing Number:   016208183

Filing Date:        04-22-2011

Secured Party: TOYOTA MOTOR CREDIT CORPORATION

 

 

Filing Date:        07-31-2009

Filing Jurisdiction:          ILLINOIS

TERMINATION     06-13-2011     

Secured Party: JPMORGAN CHASE BANK, NA

Secured Party Address:             PO BOX 4660

 

 

Filing Number:   014501193

Filing Date:        07-31-2009

Secured Party: JPMORGAN CHASE BANK, NA

 

 

Filing Number:   014501282

Filing Date:        07-31-2009

Filing Jurisdiction:          ILLINOIS

Secured Party: JPMORGAN CHASE BANK, NA

 

 

 

Filing Number:   014350640

Filing Date:        06-04-2009

Filing Jurisdiction:          ILLINOIS

Secured Party: JPMORGAN CHASE BANK, NA

 

 

There are legal filings listed with the District Court.

 

 

RFC Case Number:

 

T-I11-3276H

Court Case Number:

 

1:11-cv-03276

File Date:

 

Monday, May 16, 2011

Plaintiff:

 

 International Golden Foods, Inc.

Plaintiff Counsel:

 

Joseph Michael Williams Attorney at Law

Defendant:

 

 Hyson USA, Inc.

Cause:

 

15:1051 Trademark Infringement

Court:

 

Illinois Northern District Court

Judge:

 

 

The last annual report was filed on 2010.

 

 

For information:

 

The Uniform Commercial Code (UCC) is one of a number of uniform acts that have been promulgated in conjunction with efforts to harmonize the law of sales and other commercial transactions in all 50 states within the United States of America. 

 

The UCC deals primarily with transactions involving personal property (movable property), not real property (immovable property).

 

It allows a creditor to notify other creditors about a debtor’s assets used as collateral for a secured transaction by filing a public notice (financing statement) with a particular filing office.

 

The Uniform Commercial Code Bureau files and maintains records on financial obligations (including IRS liens) incurred by individuals (in business as a sole proprietor), business entities and corporations.

 

 

 Rating

 

Local credit bureau gave a Correct credit rate.

 

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

 

 

 Final Opinion

 

This is a small company with 15 employees and 24 years of experience.

 

Its income is correct for its size.

 

The effect of the legal suit faced by the subject must be assessed in a few months.

 

At this time and considering the company’s size and income we suggest a credit line in the range of EUR 30,000.



SUMMARY


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

 

Profitability

CORRECT

Public Records

NO

 

Indebtedness

CONTROLLED

Payments

REGULAR

 

Cash

NORMAL

 

 

 



APPENDIX

 

Comments

 

We were not able to speak with the staff.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.42

UK Pound

1

Rs.70.95

Euro

1

Rs.63.63

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.