MIRA
INFORM REPORT
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Report Date : |
14.06.2007 |
IDENTIFICATION DETAILS
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Name : |
D AIN TRADING ESTABLISHMENT |
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Registered Office : |
Commercial Area No. 9, P O Box – 21451, Safat 13075 |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
26.02.1990 |
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Com. Reg. No.: |
62726, Safat |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import and distribution of general foodstuff
products and beverages |
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
Company Name : D AIN TRADING ESTABLISHMENT
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 26th February 1990
Commercial Registration Number : 62726, Safat
Trade Licence Number : 4808/95
Membership Number : 15809
Invested Capital : KD 50,000
Total Workforce : 8
Line of Business : Distributors of general foodstuff products and beverages.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
D AIN TRADING ESTABLISHMENT
ADDRESS
Registered & Physical Address
Location : Commercial Area No. 9
PO Box : 21451
Town : Safat 13075
Country :
Telephone : (965) 2461939 / 2458302 / 2458301
Facsimile : (965) 2446503
Premises
Subject operates from a small suite of offices and a showroom that are rented and located in the Central Business Area of Safat.
KEY PRINCIPALS
Saud Mohamed Al Azami Proprietor & General Manager
Abraham George Assistant General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 26th February 1990
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 62726, Safat
Trade Licence No. : 4808/95
Membership No. : 15809
Invested Capital : KD 50,000
Mr Saud Mohamed Al Azami 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 beverages.
Import Countries :
Operating Trend : Steady
Subject has a workforce of 8 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 865,000 KD 920,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
National Bank of
PO Box : 95
Safat 13001
Tel : (965) 3981188 / 3981189
Fax : (965) 3985643
Acc No. 0003419670101
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of transaction August 2006
Credit amount 150,000
Amount overdue 0
Payment terms 60 days
Payment Method Letters of Credit
Paying record No Complaints
Currency
GENERAL COMMENTS
Established in 1990, subject is owned and managed by Mr Saud Mohamed Al Azami who is well respected in the local business community.
According to local sources, subject’s financial condition is satisfactory whilst payments are made in a timely manner. The company’s operating history is reportedly clear and the subject is deemed a fair trade risk.
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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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%)