MIRA
INFORM REPORT
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Report Date : |
08.06.2007 |
IDENTIFICATION DETAILS
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Name : |
AL OULA STEEL
MANUFACTURING COMPANY WLL |
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Registered Office : |
Plot 73, Block
No. 4, MA-10 Road, Shuaiba Industrial Area, P O Box 47218, Fahaheel |
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Country : |
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Date of Incorporation : |
8th May 2001 |
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Com. Reg. No.: |
83692 |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Engaged in the manufacture
of steel billets, ferrous alloys, hot briquetted iron, pig iron, sponge iron
and graphite products. |
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 : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AL OULA STEEL MANUFACTURING COMPANY WLL
Country of Origin :
Legal Form : With Limited Liability - WLL
Registration Date : 8th May 2001
Commercial Registration Number : 83692
Trade Licence Number : 11270
Membership Number : 70322
Issued Capital : KD 1,000,000
Paid up Capital : KD 1,000,000
Total Workforce : 300
Line of Business : Manufacturers of steel billets, ferrous alloys, hot briquetted iron,
pig iron, sponge iron and graphite products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
AL OULA STEEL
MANUFACTURING COMPANY WLL
ADDRESS
Registered & Physical Address
Location : Plot 73, Block No. 4
Street :
Area : Shuaiba Industrial Area
PO Box : 47218
Town : Fahaheel
Country :
Telephone : (965) 3263780 / 3263791 / 3263706 / 3263786
Facsimile : (965) 3263781
Email : info@al-oula.net
Premises
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of Fahaheel.
KEY PRINCIPALS
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Fahd
Y Al Jouan Managing
Director
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Husain
A Al Kharafi Director
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Ahmed
Hussain Al Kharafi Director
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Talib
Tahous Production
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 8th
May 2001
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 83692
Trade
Licence No. : 11270
Membership No. : 70322
Issued Capital : KD 1,000,000
Paid up Capital : KD 1,000,000
Name of Shareholder
(s)
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Fahd
Y Al Jouan
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Husain
A Al Kharafi
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Ahmed
Hussain Al Kharafi
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 : Engaged in the manufacture of steel
billets, ferrous alloys, hot briquetted iron, pig iron, sponge iron and
graphite products.
Import Countries
:
Subject has a
workforce of approximately 300 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in
BANKERS
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Industrial
Bank of
Block No. 5
Street No. 4
Sabhan
Tel : (965) 4728742
Fax : (965) 4731839
Acc No. 100000000368
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
2001, subject is involved in the manufacture of steel billets, ferrous alloys,
hot briquetted iron, pig iron, sponge iron and graphite products.
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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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%)