MIRA
INFORM REPORT
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Report Date : |
10th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
REGENT CENTER GENERAL TRADING CO
WLL |
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Registered Office : |
1fl Al Kazemi Bldg - Bldg 8, Office 1, Khalid Bin Waleed St
Near Finger Print Office Sharq ,
Kuwait. |
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Country : |
Kuwait |
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Date of Incorporation : |
14.02.2000 |
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Com. Reg. No.: |
61437 |
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Legal Form : |
Private |
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Line of Business : |
Engaged in the import, wholesale and retail
distribution of toys, hobby goods and supplies. |
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 : |
USD 5,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company Name & Address
REGENT
CENTER GENERAL TRADING CO WLL
1FL AL KAZEMI BLDG - BLDG 8,
OFFICE 1, KHALID BIN WALEED ST NEAR FINGER PRINT OFFICE SHARQ , KUWAIT.
TEL: [+965] 2440223
FAX: [+965] 2434848
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY. 14, 2000
REGISTRATION NO. :
61437
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. ADNAN A. ABDUL KAREEM(GENERAL MANAGER)
STAFF STRENGTH :
7
CAPITAL :
US$ 172,414
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
USD 5,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
KWD 0.28904 = US$1 AS OF 2007-3-9
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
KWD –Kuwait Dinars
*Company Registration*
===================
License number : 61437
Date issued
: 14 February, 2000
Issuing authority : Kuwait Chamber of Commerce &
Industry
Place issued
: Kuwait City
Legal form
: Limited Liability
Company
*Capital Details*
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Nominal capital :
KWD 50,000.00, fully paid
*Office & Facilities*
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Location :
Central Business Area, Main Rd
Transportation facilities :
Maintains two (2) vehicles (1 van and 1 car )
Property status :
Leased
Comment : Serves as office and shop.
Other tel. no. :
9043589
*Reputation*
==========
Reference checking for the purpose of establishing the
firm's reputation within the respective industry failed to reveal any negative information.
SC is not known to host website of its own at present.
Email : regent@qualitynet.net
For the past 7 years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name
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Adnan A. Abdul Kareem
Nasser M. Al Otaibi
Management : Mr. Adnan A. Abdul Kareem, General Manager
Mr. Nasser M. Al Otaibi, Managing Director
Name
Nationality Job
Description
Mr. Adnan A. Abdul Kareem Syrian General Manager
Mr. Nasser M. Al Otaibi Kuwaiti Managing
Director
*Key Personnel*
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(1)
Nasser M. Al Otaibi
Founder
: Co-Founder
Responsibilities
: Handles the overall management of the company.
Languages spoken :
English & Arabic
(2)
Adnan A. Abdul Kareem
Founder
: Co-Founder
Languages spoken :
English & Arabic
*Main Products & Services*
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Specializes in the import, wholesale and retail distribution
of toys, hobby goods and supplies.
Products : Hobby goods
Play
stations
Toys
Hobby goods
Play
stations
*Payment Terms*
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Sales
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Local : 30 days
credit
Cash
Against Documents (CAD)
Purchases
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Local : 45 days
Letter of Credit
Import : 90 days credit
Letter
of Credit (L/C)
*Domestic Suppliers*
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10% of the products are purchased locally.
*Imports*
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90% of the products are imported from Europe and Far
East.
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales to
general public, group companies and retailers.
*Export Markets*
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There is no record of export since the prime focus of the
firm's activity is concentrated on local sales only.
*LOCAL BRANCHES & MANAGEMENT*
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Branch :
REGENT CENTER GENERAL TRADING CO WLL - SHARQ
Branch Address :
Alam Al Saad Sharq,
PAYMENT
RATING :4 OBTAINED SCORES :
45
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Implication |
Implications |
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1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
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3 |
Scores 50 – 74 |
Average |
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4 |
Scores 35 – 49 |
Fair |
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5 |
Scores 15 – 34 |
Below Average |
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6 |
Scores 01 – 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates the
payment pattern of SC based upon our Payment Database, comments from suppliers
of SC, information from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for SMALL
amounts depending on individual judgement experience.
As a limited liability company there is no legal requirement
according to local corporate law for public disclosure of detailed financials.
Additionally, the management of the company also refused to
release any financial information and no other information is available through
any public on this company.
*Bank Details*
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Maintains an account in the following banks :
(1)
Bank : NATIONAL BANK OF KUWAIT SAK
Branch : Abdullah Al Salem St Safat (Head Office)
Swift code : NBOKKWKW
(2)
Bank : KUWAIT FINANCE HOUSE
Branch : KFH Tower Abdullah Mubarak St Murgab
(Head Office)
Swift code : KFHOKWKW
Over the past 7 years, SC has made a stable growth with satisfactory
profit. It is considered a credit line up to USD
5,000 appears to be within SC’s capacities.
ATTACHED: TRADE REFERENCES
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing
3944 Games, toys, and
children's vehicles, except dolls and bicycles
Importing
3949 Sporting and
athletic goods, and parts
Importing
5091 Sporting/Rec Goods
& Supplies
Importing
5092 Toys & Hobby
Goods & Supplies
Trading
3944 Games, toys, and
children's vehicles, except dolls and bicycles
Trading
3949 Sporting and
athletic goods, and parts
Trading
5091 Sporting/Rec Goods
& Supplies
Trading 5092 Toys & Hobby Goods & Supplies
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing
9500 Toys, games
& sports equip; parts & accessories
Importing 9503 Toys; scale models etc; puzzles; parts etc
Importing
9504 Articles for arcade, table or parlor
games, parts
Importing 9504100010 Video games of a kind used with a television receiver and parts
and accessories
Trading
9500 Toys, games
& sports equip; parts & accessories
Trading
9503 Toys; scale
models etc; puzzles; parts etc
Trading
9504 Articles for
arcade, table or parlor games, parts
Trading 9504100010 Video games of a kind used with a television receiver and
parts and accessories
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Trading Toys
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Importing from Europe
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%)