MIRA
INFORM REPORT
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Report Date : |
25.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
ANMOL GOLDEN
COMPANY |
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Registered Office : |
Fahad Complex,
Ground Floor, Shop No. 27, Mubarikiya, Safat |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
2003 |
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Com. Reg. No.: |
10454, Safat |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Engaged in the wholesale
and retail of textiles and ready made garments. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
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 : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name : ANMOL GOLDEN COMPANY
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 2003
Commercial Registration Number : 10454, Safat
Trade Licence Number : 941/2003
Membership Number : 94290
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Total Workforce : 5
Line of Business : Wholesalers and retailers of textiles and ready made garments.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ANMOL GOLDEN
COMPANY
ADDRESS
Registered & Physical Address
Building : Fahad Complex, Ground Floor, Shop
No. 27
Area : Mubarikiya
Town : Safat
Country : Kuwait
Telephone : (965) 2471596
Facsimile : (965) 4312546
Email : premier_text@yahoo.com
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Safat.
KEY PRINCIPALS
Name Nationality Position
·
Goyan Al
Mutairi Kuwaiti Managing Director
·
Vikas
Sharma Indian Director
LEGAL FORM &
OWNERS
Date of Establishment : 2003
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 10454, Safat
Trade
Licence No. : 941/2003
Membership No. : 94290
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Name of Shareholder
(s)
·
Goyan Al
Mutairi
·
Vikas
Sharma
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 wholesale and retail of
textiles and ready made garments.
Import Countries
: Europe and the Far East.
Operating Trend
: Steady
Subject has a
workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : Kuwaiti
Dinars (KD)
Year
Ending 31/12/05: Year
Ending 31/12/06:
Total Revenue KD 535,000 KD
600,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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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 2003,
subject is involved in the wholesale and retail of textiles and ready made
garments.
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
deemed to be within subject’s financial means.
Maximum suggested
credit figure: US$ 150,000
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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)