MIRA
INFORM REPORT
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Report Date : |
28.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
NAYEF SAUD AL
OTABI GENERAL TRADING CO |
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Registered Office : |
Qais Al Ghanim
Building, Office No. 16, Al Dabbous Street, Fahaheel |
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Country : |
Kuwait |
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Date of Incorporation : |
4th December 2006 |
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Com. Reg. No.: |
117834 |
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Legal Form : |
General Partnership |
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Line of Business : |
Engaged in the import
and distribution of general merchandise and providers of general contracting
services. |
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$ 30,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name : NAYEF SAUD AL OTABI GENERAL TRADING CO
Country of Origin : Kuwait
Legal Form : General Partnership
Registration Date : 4th December 2006
Commercial Registration Number : 117834
Trade Licence Number : 6898/2006
Membership Number : 105192
Partners Capital : KD 150,000
Total Workforce : 5
Line of Business : Distributors of general merchandise and providers
of general contracting services.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
NAYEF SAUD AL OTABI
GENERAL TRADING CO
ADDRESS
Registered & Physical Address
Building : Qais Al Ghanim Building, Office
No. 16
Street : Al Dabbous Street
Town : Fahaheel
Country : Kuwait
Telephone : (965) 3927949
Facsimile : (965) 3919300
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Fahaheel.
KEY PRINCIPALS
Nayef Saud Al Otabi Managing
Partner
Abdullah Nayef Saud Al Otabi Partner
LEGAL FORM &
OWNERS
Date of Establishment : 4th
December 2006
Legal Form :
Sharikat Tadhamun (General
Partnership)
Commercial Reg. No. : 117834
Trade
Licence No. : 6898/2006
Membership No. :
105192
Partners Capital : KD 150,000
Name of Partner (s)
Nayef
Saud Al Otabi
Abdullah Nayef Saud Al Otabi
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
general merchandise and providers of general contracting services.
Import Countries
: Europe and the Far East.
Subject has a
workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
·
National Bank
of Kuwait SAK
Main Branch
Fahaheel
Tel : (965) 3911447
Fax : (965) 3924447
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000
Investigations undertaken
in Fahaheel did not reveal any sign of payment defaults or delays during
initial trading stages, and subject is believed to meet its payment obligations
in a timely manner, nevertheless, and in view of the company’s infancy and the
lack of a more consistent payment and financial record, a measure of caution is
advisable and a close monitoring of subject’s business development is
recommended.
Maximum suggested
credit figure: US$ 30,000
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%)