MIRA
INFORM REPORT
|
Report Date : |
29.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
ALGHANIM SONS
GROUP |
|
|
|
|
Registered Office : |
Dajj Area, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
20th September 2004 |
|
|
|
|
Com. Reg. No.: |
96141, Safat |
|
|
|
|
Legal Form : |
With Limited Liability – WLL |
|
|
|
|
Line of Business : |
Retailers of ready made garments, footwear, furniture and household
goods. Distributors of automobiles and related accessories. Operators of restaurants and cafes. Distributors, warehousing and transportation services. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 200,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : ALGHANIM SONS GROUP
Country of Origin :
Legal Form : With Limited Liability - WLL
Registration Date : 20th September 2004
Commercial Registration Number : 96141, Safat
Trade Licence Number : 12083/2004
Membership Number : 84267
Issued Capital : KD 200,000
Paid up Capital : KD 200,000
Total Workforce : 150
Line of Business : Subject operates several divisions (see below for details).
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
ALGHANIM SONS GROUP
ADDRESS
Registered & Physical Address
Location : Dajj Area
PO Box : 23662
Town : Safat 13097
Country :
Telephone : (965) 4331709
Facsimile : (965) 4312717
Premises
Subject operates from
a large suite of offices that are owned and located in the Central Business
Area of Safat.
KEY PRINCIPALS
·
Adel
Yacoub Jassim Al Ghanim Managing
Director
·
Mazrooq
Adel Yacoub Jassim Al Ghanim Director
·
Naser
Adel Yacoub Jassim Al Ghanim Director
·
Manu
Johnson Commercial
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 20th
September 2004
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 96141, Safat
Trade
Licence No. : 12083/2004
Membership No. : 84267
Issued Capital : KD 200,000
Paid up Capital : KD 200,000
Name of Shareholder
(s)
·
Adel
Yacoub Jassim Al Ghanim
·
Mazrooq
Adel Yacoub Jassim Al Ghanim
·
Naser
Adel Yacoub Jassim Al Ghanim
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 : Subject’s activities are performed through
the following divisions:
·
Retail Division
Retailers of ready made
garments, footwear, furniture and household goods.
·
Automotive Division
Distributors of automobiles
and related accessories.
·
Hospitality Division
Operators of restaurants and cafes.
·
Logistic Division
Distributors, warehousing and
transportation services.
Import Countries
: Europe and the
Subject has a
workforce of 150 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in
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
2004, subject is owned and managed by members of the Al Ghanim family and is
involved in a number of activities performed through its divisions.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk and
the above credit figure is considered to be within subject’s financial means.
Maximum suggested
credit figure: US$ 200,000
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. |
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%)