MIRA INFORM REPORT

 

 

Report Date :           

06.04.2012

 

IDENTIFICATION DETAILS

 

Name :

GOLDEN MILLS CO

 

 

Registered Office :

Shakeeb Centre, 3rd Floor, Jamil Street, Shmeisani, P O Box 941902, Amman 11194

 

 

Country :

Jordan

 

 

Date of Incorporation :

22.04.2010

 

 

Com. Reg. No.:

155616, Amman

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Distributors of dried foods and spices

 

 

No. of Employees :

15

 

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$ 100,000

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Jordan

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : GOLDEN MILLS CO

Country of Origin                                    : Jordan

Legal Form                                            : Limited Liability Company

Registration Date                                   : 22nd April 2010

Commercial Registration Number            : 155616, Amman

Issued Capital                                        : JD 50,000

Paid up Capital                                      : JD 50,000

Total Workforce                                     : 15

Activities                                               : Distributors of dried foods and spices.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 100,000

Person Interviewed                                 : Mohamed Al Saifan, Finance Manager

 

COMPANY NAME

 

GOLDEN MILLS CO

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Shakeeb Centre, 3rd Floor

Street               : Jamil Street

Area                 : Shmeisani

PO Box             : 941902

Town                 : Amman 11194

Country             : Jordan

Telephone         : (962-6) 5540622 / 5680690 / 5679199 / 962-5 3290907

Facsimile          : (962-6) 4200831 / 5538665 / 5678652

Email                : golden-waves@wanado.jo / golden-mell@orange.jo

 

Premises

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

 

Branch Offices

 

     Location                                                                                          Description

 

·       Al Yasneen Industrial Area                                                                 Warehouse premises

Amman

Tel: (962-6) 4200831

Fax: (962-6) 4200401

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

·       Baseel Gassan Shakeeb Qerfan                                                         Managing Director

·       Hassan Gassan Shakeeb Qerfan                                                        Marketing Manager

·       Mohamed Al Saifan                                                                           Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 22nd April 2010

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 155616, Amman

National ID No.            : 20000110571

 

Issued Capital              : JD 50,000

 

Paid up Capital            : JD 50,000

 

Name of Shareholder (s)

·       Baseel Gassan Shakeeb Qerfan

 

 

AFFILIATED COMPANIES

 

·       Shakeeb Khirfan Group for Trading, Industry and Investment

     Shakeeb Centre, 3rd Floor

     Sharif Naser Bin Jameel Street

     Shmeisani

     PO Box: 941902

     Amman 11194

     Tel: (962-6) 5680690 / 5679199

     Fax: (962-6) 5678652

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of dried foods and spices.

 

Import Countries: Europe and the Far East.

 

Subject has a workforce of 15 employees.

 

 

FINANCIAL DATA

 

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.

 

 

BANKERS

 

·       Arab Bank Plc

Shmeisani Branch

PO Box: 950545 & 950544

Amman 11195

Tel: (962-6) 5607231 / 5607115

Fax: (962-6) 5606793 / 5606830

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

In view of subject’s infancy, extensive payment and financial are not available, therefore dealings are recommended to be on secured terms, and a close monitoring of subject’s business development is advisable.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.05

UK Pound

1

Rs.81.09

Euro

1

Rs.67.39

 

 

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.