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MIRA INFORM REPORT
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Report Date : |
23rd May 2006 |
IDENTIFICATION DETAILS
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Name : |
ADVANCED
TECHNOLOGIES (INTERNATIONAL AGENCIES) CO WLL (ATIA) |
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Registered Office : |
Shuaiba Industrial Area 4251, Hawalli 32073 Kuwait |
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Date of Incorporation : |
8th
May 2004 |
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Com. Reg. No.: |
100272,
Hawalli |
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Legal Form : |
With
Limited Liability - WLL |
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Line of Business : |
Distributors of computer
equipment, electronic equipment and electrical appliances. |
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$ 75,000 |
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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 |
ADVANCED TECHNOLOGIES (INTERNATIONAL AGENCIES) CO WLL (ATIA) |
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Country of Origin |
Kuwait |
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Legal Form |
With Limited Liability - WLL |
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Registration Date |
8th May 2004 |
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Commercial Registration Number |
100272, Hawalli |
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Trade Licence Number |
1450/2004 |
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Membership Number |
90792 |
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Issued Capital |
KD 20,000 |
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Paid up Capital |
KD 20,000 |
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Total Workforce |
20 |
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Line of Business |
Distributors of computer equipment, electronic equipment and electrical appliances. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
ADVANCED TECHNOLOGIES (INTERNATIONAL AGENCIES) CO WLL (ATIA)
ADDRESS
Registered & Physical Address
Location : Shuaiba Industrial Area
PO Box : 4251
Town : Hawalli 32073
Country : Kuwait
Telephone : (965) 3262246 / 3262247
Facsimile : (965) 3262840
Mobile : (965) 7207085 / 7902440
Email : atia@qualitynet.net
Premises
Subject operates from a small suite of offices and a warehouse that are rented and located in the Industrial Area of Hawalli.
Branch Office (s)
Location Description
Sabhan Industrial Area Office premises
Tel : (965) 4711350 / 4711258
KEY PRINCIPALS
Aref Fazal General Manager
Jameel Ahmed Assistant General Manager
LEGAL FORM & OWNERS
Date of Establishment : 8th May 2004
Legal Form : Sharikat Thet Massouliya Mahdoudeh (With Limited
Liability - WLL)
Commercial Reg. No. : 100272, Hawalli
Trade Licence No. : 1450/2004
Membership No. : 90792
Issued Capital : KD 20,000
Paid up Capital : KD 20,000
Name of Shareholder (s) Percentage
Shuaiba Paper Products Co (KSC) 99%
Dr Samir Abdullah Al Awada 1%
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 computer equipment, electronic equipment and electrical appliances.
Import Countries : Europe and the United States of
America.
Subject has a workforce of 20 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Kuwaiti Dinars (KD)
Year Ending 31/12/05 :
Total Revenue KD 450,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Commercial Bank of Kuwait SAK
Main Branch
Hawalli
Tel : (965) 2645964
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 2004, subject is involved in the import and
distribution of computer equipment, electronic equipment and electrical
appliances.
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.
Maximum suggested credit figure: US$ 75,000
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 |