MIRA
INFORM REPORT
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Report Date : |
02.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
ABDULLAH
YOUSEF AL RADWAN GENERAL TRADING & CONTRACTING WLL |
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Registered Office : |
Sour
Street, P O Box 1310, Safat 13014 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
5th September 2000 |
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Com. Reg. No.: |
81970 |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Engaged
in the provision of industrial catering and food services. |
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$
175,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : ABDULLAH YOUSEF AL RADWAN GENERAL TRADING &
CONTRACTING WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 5th September 2000
Commercial Registration Number : 81970, Safat
Trade Licence Number : 4331/2000
Membership Number : 3520
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Total Workforce : 20
Line of Business : Providers of industrial catering and food services.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ABDULLAH
YOUSEF AL RADWAN GENERAL TRADING & CONTRACTING WLL
ADDRESS
Registered & Physical Address
Location : Sour Street
PO Box : 1310
Town : Safat 13014
Country : Kuwait
Telephone : (965) 2455991 / 2455997
Facsimile : (965) 2455993
Email : arcaterer@yahoo.com
Premises
Subject
operates from a small suite of offices and a warehouse that are owned and
located in the Central Business Area of Safat.
KEY PRINCIPALS
· Abdullah Yousef Al Radwan Managing
Director
· Wafa Al Radwan Director
· Ram Chandaran General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 5th September 2000
Legal Form : Sharikat Thet Massouliya Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 81970, Safat
Trade Licence No. : 4331/2000
Membership No. : 3520
Issued
Capital : KD 100,000
Paid
up Capital : KD 100,000
Name of Shareholder
(s)
· Abdullah Yousef Al Radwan
· Wafa Al Radwan
Notes to the legal Form
Limited Liability Companies, which are known in Kuwait as WLLs (“With Limited Liability”), are the most commonly used corporate entities in Kuwait. They are the equivalent of French SARLs, German GmbHs or private companies in the United Kingdom.
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
provision of industrial catering and food services.
Operating
Trend : Steady
Subject
has a workforce of 20 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
1,400,000 KD
1,850,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Al
Ahli Bank of Kuwait KSC
Mubarak Al Kabir Street
PO Box : 1387
Safat 13033
Tel : (965) 2411101 / 2411102
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Established
in 2000, subject is owned and managed by Mr Abdullah Yousef Al Radwan and his
wife, Mrs Wafa Al Radwan who are 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$ 175,000
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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