MIRA INFORM REPORT
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Report Date : |
12th May 2006 |
IDENTIFICATION DETAILS
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Name : |
GULF
HOSPITALITY TRADING CO WLL |
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Registered Office : |
Street No. 61 Shuwaikh Industrial Area 13621, Keefan 71957 Kuwait |
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Date of Incorporation : |
18th
May 1992 |
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Com. Reg. No.: |
46450,
Safat |
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Legal Form : |
With
Limited Liability - WLL |
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Line of Business : |
Distributors of general
foodstuff products and catering
equipment. |
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$ 80,000 |
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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 |
GULF HOSPITALITY 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 |
18th May 1992 |
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Commercial Registration Number |
46450, Safat |
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Trade Licence Number |
355/92 |
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Membership Number |
29330 |
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Issued Capital |
KD 180,000 |
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Paid up Capital |
KD 180,000 |
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Total Workforce |
20 |
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Line of Business |
Distributors of general foodstuff products and catering equipment. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
GULF HOSPITALITY TRADING CO WLL
ADDRESS
Registered & Physical Address
Street : Street No. 61
Area : Shuwaikh Industrial Area
PO Box : 13621
Town : Keefan 71957
Country : Kuwait
Telephone : (965) 4835567 / 4835568 / 9068838
Facsimile : (965) 4835569
Email : al_julibi@arabia.com
Premises
Subject operates from a small suite of offices and a warehouse that are rented and located in the Industrial Area of Keefan.
KEY PRINCIPALS
Abdullah Ibrahim Al Julaibi Managing Director
Ghanima F Al Farhan Director
LEGAL FORM & OWNERS
Date of Establishment : 18th May 1992
Legal Form : Sharikat Thet Massouliya Mahdoudeh (With Limited
Liability - WLL)
Commercial Reg. No. : 46450, Safat
Trade Licence No. : 355/92
Membership No. : 29330
Issued Capital : KD 180,000
Paid up Capital : KD 180,000
Name of Shareholder (s)
Abdullah Ibrahim Al Julaibi
Ghanima F Al Farhan
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 : Engaged in the import and distribution
of general foodstuff products and catering equipment.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 20 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 425,000 KD 490,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
National Bank of Kuwait SAK
Main Branch
Keefan
Tel : (965) 4815088
Fax : (965) 4839016
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1992, subject is involved in the import and
distribution of general foodstuff products and catering equipment.
According to local sources, subject meets its payment obligations in a timely manner and the business is considered to be a fair trade risk.
Maximum suggested credit figure: US$ 80,000
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 |