MIRA
INFORM REPORT
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Report Date : |
26.06.2007 |
IDENTIFICATION DETAILS
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Name : |
MANSOUR CONTRACTING CO |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
24th
April 2005 |
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Com. Reg. No.: |
107095 |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Traders of automobile as well as offering leasing and
hiring of vehicles. Engaged in the import and retail of antiques and furniture with Indian origins. |
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 : MANSOUR
CONTRACTING CO
Country of Origin :
Legal Form :
With Limited Liability - WLL
Registration Date : 24th
April 2005
Commercial Registration
Number : 107095
Trade Licence Number : 1868/2005
Membership Number : 92935
Issued Capital : KD
250,000
Paid up Capital : KD
250,000
Total Workforce : 20
Line of Business : Subject
operates several divisions (see below for details)
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
COMPANY NAME
MANSOUR AL
MUTAWA & PARTNERS GENERAL TRADING & CONTRACTING CO
ADDRESS
Registered & Physical Address
Location :
Town : Al Salmiya
Country :
Telephone : (965) 2667686 / 2522040 / 6655441
Facsimile : (965) 2667686
Email : mansour_almutawa@hotmail.com
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Salmiya.
KEY PRINCIPALS
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Mansour
Mohamed Al Mutawa Managing
Director
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Mastoora
Mohamed Al Mutawa Director
LEGAL FORM &
OWNERS
Date of Establishment : 24th
April 2005
Legal Form :
Sharikat Thet Massouliya Mahdoudeh
(With Limited Liability - WLL)
Commercial Reg. No. : 107095
Trade Licence No. : 1868/2005
Membership No. : 92935
Issued Capital : KD 250,000
Paid up Capital : KD 250,000
Name of Shareholder
(s)
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Mansour
Mohamed Al Mutawa
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Mastoora
Mohamed Al Mutawa
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 : Subject’s activities are performed through
the following divisions:
· Automobile Division
Subject acts as traders
of automobile as well as offering leasing and hiring of vehicles.
· Antiques and Furniture Division
Engaged in the import and retail of antiques and
furniture with Indian origins.
Import Countries
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Subject has a
workforce of 20 employees.
FINANCIAL HIGHLIGHTS
Financial highlights
provided by outside sources are given below:
Currency: Kuwaiti
Dinars (KD)
Year
Ending 31/12/06:
Total Revenue KD
625,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Commercial
Bank of
Salmiya
Tel : (965) 5715989
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Mansour Al
Mutawa & Partners General Trading & Contracting Co is a relatively new business with operations
commencing in April 2005. It is engaged in antiques and furniture trading as
well as operating an automobile division trading and leasing vehicles.
According to local sources subject is making steady
progress in the local business market and nothing detrimental has been reported
regarding 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
admissible.
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%)