MIRA INFORM REPORT

 

 

Report Date :           

06.09.2011

 

IDENTIFICATION DETAILS

 

Name :

GOLDEN WAVES FOR TRADING & INVESTMENT CO LTD

 

 

Registered Office :

Shakeeb Center, 3rd Floor, Shareef Bin Nasser Bin Jamil Street, Shmeisani, P O Box 941902, Amman 11194

 

 

Country :

Jordan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

29.05.2001

 

 

Com. Reg. No.:

6714, Amman

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Wholesale and retail of coffee beans, spices, sugar, beans, pulses, nuts and edible oils

 

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 :

US$ 200,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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)

Jordan

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

SUMMARY

 

Company Name                                     : GOLDEN WAVES FOR TRADING & INVESTMENT CO LTD

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Company

Registration Date                                   : 29th May 2001

Commercial Registration Number            : 6714, Amman

Chamber Membership Number                : 107032

Issued Capital                                        : JD 30,000

Paid up Capital                                      : JD 30,000

Total Workforce                                     : 25

Activities                                               : Wholesale and retail of coffee beans, spices, sugar, beans, pulses, nuts

and edible oils.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 200,000

Person Interviewed                                 : Zubaida Mohamed, Administrative Executive

 

COMPANY NAME

 

GOLDEN WAVES FOR TRADING & INVESTMENT CO LTD

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Shakeeb Center, 3rd Floor

Street               : Shareef Bin Nasser Bin Jamil Street

Area                 : Shmeisani

PO Box             : 941902

Town                 : Amman 11194

Country             : Jordan

Telephone         : (962-6) 5680690 / 5679199

Facsimile          : (962-6) 5678652

Mobile               : (962-78) 5412511

Email                : viva@go.com.jo / golden-waves@wanadoo.jo

 

Premises

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Amman.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Ghassan Shakeeb Rasheed Khirfan                                                    Managing Director

 

·       Nader Shakeeb Rasheed Khirfan                                                        Director

 

·       Bassam Shakeeb Rasheed Khirfan                                                     Director

 

·       Basil Ghassan Shakeeb Rasheed Khirfan                                            Commercial Manager

 

·       Zubaida Mohamed                                                                             Administrative Executive

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 29th May 2001

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 6714, Amman

 

Chamber Member No. : 107032

 

Issued Capital              : JD 30,000

 

Paid up Capital            : JD 30,000

 

Name of Shareholder (s)                                              Percentage

 

·       Ghassan Shakeeb Rasheed Khirfan                               33.33%

 

·       Nader Shakeeb Rasheed Khirfan                                   33.33%

 

·       Bassam Shakeeb Rasheed Khirfan                                33.33%

 

 

AFFILIATED COMPANIES

 

·       Shakeeb Khirfan Group for Trading, Industry & Investment

Amman

 

·       Golden Mill Company

PO Box : 941902

Amman 11194

 

·       Golden Brothers Co

PO Box : 941902

     Amman 11194

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of coffee beans, spices, sugar, beans, pulses, nuts and edible oils.

 

Import Countries: Europe and GCC countries.

 

Brand Names: GOLDEN WAVES, SKS, HAPPY FOOD, AL OSRA and AL BASIL

 

Operating Trend: Steady

 

Subject has a workforce of 25 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Jordanian Dinars (JD)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                JD 2,780,000                             JD 3,250,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Jordan Investment & Finance Bank

     Shmeisani Branch

     PO Box: 950601

     Amman

     Tel: (962-6) 5665145 / 5692470

     Fax: (962-6) 5681410

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.94

UK Pound

1

Rs.74.28

Euro

1

Rs.64.97

 

 

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.