MIRA
INFORM REPORT
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Report Date : |
29.08.2007 |
IDENTIFICATION DETAILS
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Name : |
AL YASRA
FOODSTUFF COMPANY WLL |
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Registered Office : |
Al |
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Country : |
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Date of Incorporation : |
1988 |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Import and
distribution of general foodstuff items, including poultry, meat, fish, fruits,
potatoes, rice, edible oils, dairy products, olives, pickles and sauces,
mineral water, tea, coffee, sugar, pulses and nuts. |
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$ 300,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AL YASRA FOODSTUFF COMPANY WLL
Country of Origin :
Legal Form : With Limited Liability - WLL
Start Date : 1988
Registration Date : 9th January 1992
Membership Number : 26832
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Total Workforce : 650
Line of Business : Distributors of general foodstuff items.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
AL YASRA FOODSTUFF
COMPANY WLL
ADDRESS
Registered & Physical Address
Building : Al
Street :
Area : Shuwaikh
PO Box : 3228
Town : Safat 13033
Country :
Telephone : (965) 4835149 / 4835146 / 4835147
Facsimile : (965) 4835140
Email : yasrafood@yasra.com
Premises
Subject operates
from a large suite of offices and storage facilities that are owned and located
in the Suburban Business Area of Safat.
KEY PRINCIPALS
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Yusuf A
Al Saqer Managing
Director
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Mohamed
Y Al Saqer Director
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Ahmad Y
Al Saqer Director
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Hassan
Abdul Salam General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : Subject began
trading in 1988 but was officially registered on 9th January
1992.
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Membership No. : 26832
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Name of Shareholder
(s)
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Yusuf A
Al Saqer
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Mohamed
Y Al Saqer
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Ahmad Y
Al Saqer
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.
AFFILIATED COMPANIES
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Gulf Al
Sawani General Trading & Contracting Co WLL
Salhiya
PO Box: 3228
Safat 13033
Tel: (965) 2411131
Fax: (965) 2429482
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
general foodstuff items, including poultry, meat, fish, fruits, potatoes, rice,
edible oils, dairy products, olives, pickles and sauces, mineral water, tea,
coffee, sugar, pulses and nuts.
Import Countries
: Europe and the
Brand Names : SADIA, LAMBWESTON, ALLANA,
Subject has a
workforce of approximately 650 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in
BANKERS
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National
Bank of
Shuwaikh
Tel : (965) 4813266 / 4818350
Fax : (965) 4844126
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit
figure of US$ 150,000:
Subject is one of
the largest importers and distributors of foodstuff in
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$ 300,000
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%)