MIRA
INFORM REPORT
|
Report Date : |
02.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
AL BAHAR & BARDAWIL SPECIALITIES WLL |
|
|
|
|
Registered Office : |
Ardiya Industrial Area, Block No. 2, Plot No.
1, P O
Box 20376, Safat 13064 |
|
|
|
|
Country : |
Kuwait |
|
|
|
|
Date of Incorporation : |
1959 |
|
|
|
|
Legal Form : |
With Limited Liability – WLL |
|
|
|
|
Line of Business : |
Import
and distribution of construction materials, fire and safety equipment, and
security products. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
US$
500,000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : AL BAHAR & BARDAWIL SPECIALITIES WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 1959
Issued Capital : KD 200,000
Paid up Capital : KD 200,000
Total Workforce : 300
Line of Business : Import and distribution of construction materials, fire
and safety equipment, and security products. The
company also offers construction contracting
services and automotive repair and maintenance
services.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
AL BAHAR & BARDAWIL SPECIALITIES WLL
ADDRESS
Registered & Physical Address
Location : Ardiya Industrial Area, Block No. 2, Plot No. 1
PO Box : 20376
Town : Safat 13064
Country : Kuwait
Telephone : (965) 4347363 / 822999
Facsimile : (965) 4346813 / 822002
Email : info@bahar-bardawil.com
Premises
Subject
operates from a large suite of offices, a workshop and warehousing that are
rented and located in the Industrial Area of Safat.
KEY PRINCIPALS
· Adnan Al Bahar Managing
Director
· Philip Al Bardawil Director
· Issam Al Bahar Director
· Jassim Al Bahar Director
LEGAL FORM &
OWNERS
Date of Establishment : 1959
Legal Form : Sharikat Thet Massouliya Mahdoudeh (With Limited Liability - WLL)
Issued
Capital : KD 200,000
Paid
up Capital : KD 200,000
Name of Shareholder
(s)
· Adnan Al Bahar
· Philip Al Bardawil
· Issam Al Bahar
· Jassim Al Bahar
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
import and distribution of construction materials, fire and safety equipment,
and security products. The company also offers construction contracting
services and automotive repair and maintenance services.
Import
Countries :
India, Japan, Germany and the United States of America
Subject
has a workforce of approximately 300 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in Kuwait are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
·
Commercial
Bank of Kuwait
Mubarak Al Kabir Street
PO Box : 2861
Safat 13029
Tel : (965) 2411001
Fax : (965) 2450150
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000
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 company is considered to be a fair trade risk and the above credit
figure is within subject’s financial means.
Maximum
suggested credit figure: US$ 500,000
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/normal. |
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 |
|