MIRA
INFORM REPORT
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Report Date : |
23rd
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
AL ZAHEM AND MALHOTRA GENERAL TRADING AND CONTRACTING CO WLL |
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Registered Office : |
Block
No. 2, Plot No. 122/123, Street No. 6, Ardiya, PO Box: 251, Safat 13003, Kuwait. |
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Country : |
Kuwait |
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Date of Incorporation : |
25.06.1980 |
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Com. Reg. No.: |
29822, Safat |
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Legal Form : |
Sharikat
Thet Massouliya Mahdoudeh (With Limited Liability - WLL) |
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Line of Business : |
Engaged
in the import and distribution of general foodstuff products and household
items. |
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$
250,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company
Name |
AL ZAHEM AND MALHOTRA GENERAL TRADING AND CONTRACTING CO WLL |
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Country
of Origin |
Kuwait |
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Legal
Form |
With Limited Liability - WLL |
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Registration
Date |
25th June 1980 |
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Commercial
Registration Number |
29822, Safat |
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Trade
Licence Number |
4534/80 |
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Membership
Number |
9640 |
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Issued
Capital |
KD 1,000,000 |
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Paid
up Capital |
KD 1,000,000 |
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Total
Workforce |
45 |
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Line
of Business |
Distributors of general foodstuff products and household items. |
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Financial
Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating
Trend |
Steady |
COMPANY NAME
AL ZAHEM
AND MALHOTRA GENERAL TRADING AND CONTRACTING CO WLL
ADDRESS
Registered & Physical Address
Location : Block No. 2, Plot No. 122/123
Street : Street No. 6
Area : Ardiya
PO Box : 251
Town : Safat 13003
Country : Kuwait
Telephone : (965) 4338305
Facsimile : (965) 4338350 / 4338360
Email : info@alzahem-malhotra.com
Premises
Subject
operates from a medium sized suite of offices and a warehouse that are owned
and located in the Industrial Area of Safat.
KEY PRINCIPALS
· Abdul Mohsin F Al Zahem Managing
Director
· Bupinder N Malhotra Director
· Dharam V Malhotra Director
· Faisal A A Al Zahem Director
· Fatema F Al Zahem Director
· Ghanima F Al Zahem Director
· Lokesh D Malhotra Director
· Mohamed F Al Zahem Director
· Neel K Malhotra Director
· Sharifa F Al Zahem Director
· Kayed Jawahr Commercial
Manager
· Mortada Al Taj Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 25th June 1980
Legal Form : Sharikat Thet Massouliya Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 29822, Safat
Trade Licence No. : 4534/80
Membership No. : 9640
Issued
Capital : KD 1,000,000
Paid
up Capital : KD 1,000,000
Name of Shareholder (s)
· Abdul Mohsin F Al Zahem
· Bupinder N Malhotra
· Dharam V Malhotra
· Faisal A A Al Zahem
· Fatema F Al Zahem
· Ghanima F Al Zahem
· Lokesh D Malhotra
· Mohamed F Al Zahem
· Neel K Malhotra
· Sharifa F Al Zahem
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 general foodstuff products and household items,
including air fresheners, biscuits, cheese, chocolates, cleaning products,
personal hygiene products, nuts, powdered milk, rice, spices and tea.
Import
Countries :
Europe and the Far East.
Operating
Trend : Steady
Subject
has a workforce of 45 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency
: Kuwaiti Dinars (KD)
Year
Ending 31/12/04 : Year
Ending 31/12/05 :
Total
Revenue KD
3,800,000 KD
3,950,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
National
Bank of Kuwait SAK
Ali Awadi Tower
Ahmed Al Jaber Street
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 1980, subject is involved in the import and distribution of general
foodstuff products and household items, including air fresheners, biscuits,
cheese, chocolates, cleaning products, personal hygiene products, nuts,
powdered milk, rice, spices and tea.
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$ 250,000
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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