MIRA INFORM REPORT
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Report Date : |
4th May 2006 |
IDENTIFICATION DETAILS
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Name : |
NATIONAL MARKETING &
TRADING CO |
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Registered Office : |
Al Ardiya Area, 26155 &
4464 Safat
13122, Kuwait |
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Date of Incorporation : |
28th
June 1999 |
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Com. Reg. No.: |
77568,
Safat |
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Legal Form : |
With
Limited Liability - WLL |
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Line of Business : |
Distributors of general
foodstuff products and beverages. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company Name |
NATIONAL MARKETING & TRADING CO |
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Country of Origin |
Kuwait |
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Legal Form |
With Limited Liability - WLL |
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Registration Date |
28th June 1999 |
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Commercial Registration Number |
77568, Safat |
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Trade Licence Number |
317/99 |
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Membership Number |
59271 |
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Issued Capital |
KD 100,000 |
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Paid up Capital |
KD 100,000 |
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Total Workforce |
25 |
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Line of Business |
Distributors of general foodstuff products and beverages. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
NATIONAL MARKETING & TRADING CO
ADDRESS
Registered & Physical Address
Location : Al Ardiya Area
PO Box : 26155 & 4464
Town : Safat 13122
Country : Kuwait
Telephone : (965) 4316200 / 4316100
Facsimile : (965) 4316500
Email : nmc_kuwait@hotmail.com
Premises
Subject operates from a small suite of offices and a warehouse that are owned and located in the Central Business Area of Safat.
KEY PRINCIPALS
Name Nationality Position
Mohamed H Al Homood Al Mehareb Kuwaiti Managing
Director
Abdullah Hamd Al Mazrouie Emirati Director
Abdul Hakim Nashid - Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 28th June 1999
Legal Form : Sharikat Thet Massouliya Mahdoudeh (With Limited
Liability - WLL)
Commercial Reg. No. : 77568, Safat
Trade Licence No. : 317/99
Membership No. : 59271
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Name of Shareholder (s) Percentage
Mohamed H Al Homood Al Mehareb 51%
Abdullah Hamd Al Mazrouie 49%
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.
AFFILIATED COMPANIES
UAE Exchange Centre WLL
Al Rabia Building
Al Shuhada Street
PO Box : 26155
Safat 13122
Tel : (965) 2450653 / 2459925 / 2421157 / 2450852 / 2450853
Fax : (965) 2450855 / 2458810
Email : raun@qualitynet.net
LINE OF BUSINESS
Operations : Engaged in the import and distribution
of general foodstuff products and beverages.
Import Countries : Europe and GCC countries.
Operating Trend : Steady
Subject has a workforce of 25 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Kuwaiti Dinars (KD)
Year Ending 31/12/04 : Year Ending 31/12/05 :
Total Revenue KD 820,000 KD 935,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Burgan Bank
PO Box : 5875
Safat 13054
Tel : (965) 2410818
Fax : (965) 2410819
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 15,000,000
Established in 1999, subject is involved in the import and distribution of general foodstuff products and beverages.
According to local sources subject is making steady progress in the local business market and nothing detrimental has been reported regarding the manner in which payments are fulfilled. As such the business is considered to be a fair trade risk.
The above credit figure is higher than transactions previously seen and a measure of caution would be prudent.
Maximum suggested credit figure: US$ 150,000
RATING EXPLANATIONS
RATING
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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 |