MIRA
INFORM REPORT
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Report Date : |
30th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
BOWASIL FOOD STUFF CENTRE |
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Registered Office : |
Area
Al Kapla, Block 6, Road 1, Office No. 3, Safat, Kuwait |
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Country : |
Kuwait |
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Date of Incorporation : |
12.02.2002 |
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Com. Reg. No.: |
81222, Safat |
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Legal Form : |
Mouassasa
Khassa (Sole Proprietorship) |
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Line of Business : |
Importer
and Distributors of general foodstuff products and
grocery 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$
150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company
Name |
BOWASIL FOOD STUFF CENTRE |
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Country
of Origin |
Kuwait |
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Legal
Form |
Sole Proprietorship |
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Registration
Date |
12th February 2002 |
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Commercial
Registration Number |
81222, Safat |
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Trade
Licence Number |
2298/2000 |
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Membership
Number |
79343 |
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Invested
Capital |
KD 100,000 |
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Total
Workforce |
15 |
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Line
of Business |
Distributors of general foodstuff products and grocery 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
BOWASIL
FOOD STUFF CENTRE
ADDRESS
Registered & Physical Address
Location : Area Al Kapla, Block 6, Road 1,
Office No. 3
Town : Safat
Country : Kuwait
Telephone : (965) 5612957
Facsimile : (965) 5612957
Mobile : (965) 7837360
Email : mukeshsarna@hotmail.com
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Central Business Area of Safat.
KEY PRINCIPALS
·
Abdullah
Saleh Mohamed Al Anaizi Proprietor
& General Manager
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Mukesh
Kumar Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 12th February 2002
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 81222, Safat
Trade Licence No. : 2298/2000
Membership No. : 79343
Invested
Capital : KD 100,000
Mr
Abdullah Saleh Mohamed Al Anaizi is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines Mouassasa Khassa as the business of an individual where liability for all debts is unlimited. The business is the entire responsibility of its proprietor, who is liable for all its debts to the extent of his entire wealth. There are no legal requirements concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of general foodstuff products and grocery items.
Import
Countries :
Europe and GCC countries.
Operating
Trend : Steady
Subject
has a workforce of 15 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 1,200,000 KD
1,430,000
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 2002, subject is owned and managed by Mr Abdullah Saleh Mohamed Al Anaizi
who is well respected in the local business community.
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$ 150,000
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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