MIRA INFORM REPORT
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Report Date : |
19th May 2006 |
IDENTIFICATION DETAILS
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Name : |
ALI
AL ZAMEL FOODSTUFF EST |
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Registered Office : |
Murgab
Area 1248,
Safat 13013 Kuwait, |
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Date of Incorporation : |
13th January
1976 |
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Com. Reg. No.: |
16760,
Safat |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Distribution of dried
foodstuffs and spices. |
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$
200,000 |
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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 |
ALI AL ZAMEL FOODSTUFF EST |
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Country of Origin |
Kuwait |
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Legal Form |
Sole Proprietorship |
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Registration Date |
13th January 1976 |
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Commercial Registration Number |
16760, Safat |
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Membership Number |
4865 |
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Invested Capital |
KD 15,000 |
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Total Workforce |
15 |
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Line of Business |
Distribution of dried foodstuffs and spices. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
ALI AL ZAMEL
FOODSTUFF EST
ADDRESS
Registered &
Physical Address
Location : Murgab Area
PO Box : 1248
Town : Safat 13013
Country : Kuwait
Telephone : (965) 2410567
Facsimile : (965) 2429474
Email : sonikawat@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.
Branch Office
(s)
Location Description
Shuwaikh Industrial
Area Warehouse
premises
Tel : (965) 4823516
KEY PRINCIPALS
Ali Abdulrahman Al
Zamel Proprietor
& General Manager
Sobasha T Joli Assistant
General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 13th January 1976
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg.
No. : 16760, Safat
Membership No. : 4865
Invested Capital
: KD 15,000
Mr Ali Abdulrahman
Al Zamel is the sole proprietor of the business.
Note to the
Legal Form
Commonly referred
to as an establishment, the Company Law defines Mouassasa Khassa as the
business of an individual where liability for all debts is unlimited. The
business is the entire responsibility of its proprietor, who is liable for all
its debts to the extent of his entire wealth. There are no legal requirements
concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
dried foodstuffs and spices.
Import Countries
: Europe and the Far East.
Operating Trend
: Steady
Subject has a
workforce of 15 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 326,000 KD 334,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
National Bank of
Kuwait SAK
Ali Awadi Tower
Ahmed Al Jaber
Street
PO Box : 95
Safat 13001
Tel : (965) 3981188
/ 3981189
Fax : (965) 3985643
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, subject is involved in the import and distribution of dried foodstuffs
and spices.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk and
the above credit figure is considered to be within subject’s financial means.
Maximum suggested
credit figure: US$ 200,000
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 |