MIRA
INFORM REPORT
|
Report Date : |
03.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
COPRI CONSTRUCTION ENTERPRISES WLL |
|
|
|
|
Registered Office : |
Block 1, Plot 90, Street 1, Aardiya Industrial Area, P O Box – 4720, Safat
13048 |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
10.07.1969 |
|
|
|
|
Com. Reg. No.: |
15219, Safat |
|
|
|
|
Legal Form : |
Sharikat Thet Massouliya Mahdoudeh (With Limited Liability -
WLL) |
|
|
|
|
Line of Business : |
Engaged in the import and distribution of construction materials. Subject also acts as general
building contractors, electro-mechanical works and infrastructure – roads and
bridges. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
US$ 400,000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name :
COPRI CONSTRUCTION ENTERPRISES WLL
Country of Origin :
Legal Form :
With Limited Liability - WLL
Registration Date :
10th July 1969
Commercial Registration Number :
15219, Safat
Membership Number :
1666
Issued Capital :
KD 2,000,000
Paid up Capital :
KD 2,000,000
Total Workforce :
350
Line of Business :
Distributors of construction
materials.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
COMPANY NAME
COPRI CONSTRUCTION ENTERPRISES WLL
ADDRESS
Registered & Physical Address
Location : Block 1, Plot
90
Street : Street 1
Area : Aardiya Industrial Area
PO Box : 4720
Town : Safat 13048
Country :
Telephone : (965) 4319377
Facsimile : (965) 4318875
Email : copri@copri.com
Premises
Subject operates from a medium sized suite of offices and a warehouse
that are owned and located in the Industrial Area of Safat.
KEY PRINCIPALS
Name Nationality Position
Yousef Khalifa
Al Romi Kuwaiti Managing Director
Tariq Khalifa Lebanese Director
Salah Al Zogbi - General
Manager
Eddie Khalifa - Assistant
General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 10th
July 1969
Legal Form : Sharikat Thet
Massouliya Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 15219, Safat
Membership No. : 1666
Issued Capital : KD 2,000,000
Paid up Capital : KD 2,000,000
Name of Shareholder
(s)
Yousef Khalifa
Al Romi
Tariq Khalifa
Notes to the legal Form
Limited Liability Companies, which are known in
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 construction materials. Subject also acts
as general building contractors, electro-mechanical works and infrastructure –
roads and bridges.
Import Countries : Europe and the
Subject has a workforce of approximately 350 employees.
FINANCIAL HIGHLIGHTS
Companies registered in
BANKERS
Commercial Bank of
PO Box : 2861
Safat 13029
Tel : (965) 2411001
Fax : (965) 2450150
Al Ahli Bank of
PO Box : 1387
Safat 13033
Tel : (965) 2411101 / 2411102
The Gulf Bank KSC
PO Box : 3200
Safat 13033
Tel : (965) 2449501
Fax : (965) 2445212
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Established in 1969, subject is involved in the import and distribution
of construction materials.
Subject also acts as general building contractors, electro-mechanical works and
infrastructure – roads and bridges.
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$ 400,000
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)