MIRA
INFORM REPORT
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Report Date : |
6th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
AL KULAIB INTERNATIONAL TRADING CO WLL |
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Registered Office : |
Al Soor Street, 29447,
Safat 13155, Kuwait |
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Country : |
Kuwait |
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Date of Incorporation : |
6th January 1976 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Specialises in
the construction and maintenance fields of civil, mechanical, electrical and
instrumentation works for the oil, power, water and petrochemical sectors |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 750,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company Name |
AL KULAIB INTERNATIONAL TRADING CO WLL |
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Country of Origin |
Kuwait |
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Legal Form |
With Limited Liability - WLL |
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Registration Date |
6th January 1976 |
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Membership Number |
4839 |
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Issued Capital |
KD 500,000 |
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Paid up Capital |
KD 500,000 |
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Total Workforce |
775 |
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Line of Business |
Specialises in
the construction and maintenance fields of civil, mechanical, electrical and
instrumentation works for the oil, power, water and petrochemical sectors |
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Financial Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
AL KULAIB INTERNATIONAL TRADING CO WLL
ADDRESS
Registered & Physical Address
Location : Al Soor Street
PO Box : 29447
Town : Safat 13155
Country : Kuwait
Telephone : (965) 2469418 / 2469419 / 2469470 / 2469471 / 2469475
Facsimile :
(965) 2469452
Mobile : (965) 9078753 / 9069912
Email :
malik@qualitynet.net
Premises
Subject operates from a large suite of offices, a showroom, warehousing and workshop that are owned and located in the Suburban Business Area of Safat
KEY PRINCIPALS
Jasem Abdullah Al Kulaib Managing Director
Zaid Abdullah Al Kulaib Director
Abdul Aziz Abdullah Al Kulaib Director
Sulaiman Abdullah Al Kulaib Director
Mozamal M. Malik General Manager
Abdul Razzaq A. Ahmad Commercial Manager
LEGAL FORM & OWNERS
Date of Establishment : 6th January 1976
Legal Form : Sharikat Thet Massouliya Mahdoudeh (With Limited Liability - WLL)
Membership No. : 4839
Issued Capital : KD 500,000
Paid up Capital : KD 500,000
Name of Shareholder (s)
Jasem Abdullah Al Kulaib
Zaid Abdullah Al Kulaib
Abdul Aziz Abdullah Al Kulaib
Sulaiman Abdullah Al Kulaib
Notes to the legal Form
Limited Liability Companies, which are known in Kuwait as WLLs (“With Limited Liability”), are the most commonly used corporate entities in Kuwait. They are the equivalent of French SARLs, German GmbHs or private companies in the United Kingdom.
Under the Kuwaiti Commercial Companies Law a WLL may be formed by a minimum of 2 and a maximum of 30 natural or legal persons, whose liability is limited to their shares in the company’s capital. At least 51 percent of the capital must be owned by Kuwaitis. The minimum amount of capital required is KD 7,500. Contributions to capital may be made in cash of kind. Capital may not be increased by public subscription. The full amount of the share value must be paid in on subscription. Shares may not be assigned to a non-member, unless the other existing members are granted a pre-emptive right to purchase the shares. WLLs may not engage in banking, insurance or investment activities on behalf of others.
LINE OF BUSINESS
Operations :
Subject specialises in the construction and
maintenance fields of civil, mechanical, electrical and instrumentation works
for the oil, power, water and petrochemical sectors.
The company is also
engaged in the import and distribution of related equipment and products.
Import Countries : Europe, India and Asia
Subject has a workforce of approximately 775 employees.
FINANCIAL HIGHLIGHTS
Companies registered in Kuwait are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.
BANKERS
Kuwait Finance House (KFH)
Safat Square
Abdullah Al Mubarak Street
PO Box : 24989
Safat 13110
Tel : (965) 2445050
Fax : (965) 2455135
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000
Established in 1976, Al Kulaib International Trading Co WLL specialises in the construction and maintenance fields of civil, mechanical, electrical and instrumentation works for the oil, power, water and petrochemical sectors
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 and the above credit figure is within subject’s financial means.
Maximum suggested credit figure: US$ 750,000
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/normal. |
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 |