MIRA
INFORM REPORT
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Report Date : |
09.08.2007 |
IDENTIFICATION DETAILS
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Name : |
GREEN |
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Registered Office : |
Office No. 4043, Mezzanine Floor, P O Box - 452, Hawalli
32005, Safat, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
15.11.1999 |
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Com. Reg. No.: |
79170 |
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Legal Form : |
Mouassasa Khassa (Sole Proprietorship) |
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Line of Business : |
Engaged in the import and distribution of general merchandise |
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 : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name :
GREEN
Country of Origin :
Legal Form :
Sole Proprietorship
Registration Date :
15th November 1999
Commercial Registration Number :
79170
Trade Licence Number :
2431/95
Membership Number :
60623
Invested Capital :
KD 50,000
Total Workforce : 5
Line of Business :
Distributors of general merchandise.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
GREEN
ADDRESS
Registered & Physical Address
Location : Office No.
4043, Mezzanine Floor
PO Box : 452, Hawalli
32005
Town : Safat
Country :
Telephone : (965) 2405054 / 2430491
Facsimile : (965) 2430492
Email : greenisland@yahoo.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Safat.
KEY PRINCIPALS
Kaniz Mohamed
Gaafar Proprietor
& General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 15th
November 1999
Legal Form :
Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 79170
Trade Licence No. :
2431/95
Membership No. : 60623
Invested Capital : KD
50,000
Mr Kaniz Mohamed Gaafar
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 general merchandise.
Import Countries :
Europe and the
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
795,000 KD
880,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
National Bank of
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 1999, subject is owned and managed by Mr Kaniz Mohamed Gaafar who is well
respected in the local business community.
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 business 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%)