MIRA
INFORM REPORT
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Report Date : |
20.08.2007 |
IDENTIFICATION DETAILS
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Name : |
AL NAEEM HOUSE
EST |
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Registered Office : |
Al Fayha Complex,
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
25th June 2002 |
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Com. Reg. No.: |
89810 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import
and distribution of scrap metal and cement. |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AL NAEEM HOUSE EST
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 25th June 2002
Commercial Registration Number : 89810
Trade Licence Number : 2802/2002
Invested Capital : KD 50,000
Total Workforce : 5
Line of Business : Distributors of scrap metal and cement.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL NAEEM HOUSE EST
ADDRESS
Registered & Physical Address
Building : Al Fayha Complex
Street : Ibn Khaldoun Street
PO Box : 4257
Town : Hawalli 32073
Country : Kuwait
Telephone : (965) 2640270
Facsimile : (965) 2640270
Email : almaeny@hotmail.com
Premises
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Central Business Area of Hawalli.
KEY PRINCIPALS
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Munira
Mohamed Khalf Al Naeemi Proprietor
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Bakr
Meshari Al Naeemi General
Manager
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Ahmed
Naser Kamal Administration Manager
LEGAL FORM &
OWNERS
Date of Establishment : 25th
June 2002
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 89810
Trade Licence No. :
2802/2002
Invested Capital
: KD 50,000
Mr Munira Mohamed
Khalf Al Naeemi 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
scrap metal and cement.
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 825,000 KD
880,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Commercial
Bank of
Main Branch
Hawalli
Tel : (965) 2645964
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
2002, subject is owned and managed by Mr Munira Mohamed Khalf Al Naeemi who is
well respected in the local business community.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the business is deemed a fair trade risk.
Maximum suggested
credit figure: US$ 100,000
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. |
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%)