MIRA
INFORM REPORT
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Report Date : |
02.05.2007 |
IDENTIFICATION
DETAILS
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Name : |
DHAWAHI AL
JAZIRAH GENERAL TRADING & CONTRACTING EST |
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Registered Office : |
Plot No. 82,
Mecca Street, Fahaheel Area, P O Box 46799 & 25018, Safat 13111 |
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Country : |
Kuwait |
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Date of Incorporation : |
21st February 1981 |
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Com. Reg. No.: |
30677, Safat |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in general
scaffolding, sandblasting and painting contractors. |
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 : DHAWAHI AL JAZIRAH GENERAL TRADING & CONTRACTING EST
Country of Origin : Kuwait
Legal Form : Sole Proprietorship
Registration Date : 21st February 1981
Commercial Registration Number : 30677, Safat
Trade Licence Number : 171/81
Membership Number : 10128
Invested Capital : KD 50,000
Total Workforce : 86
Line of Business : General scaffolding, sandblasting and painting
contractors.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
DHAWAHI AL JAZIRAH
GENERAL TRADING & CONTRACTING EST
ADDRESS
Registered & Physical Address
Location : Plot No. 82
Street : Mecca Street
Area : Fahaheel Area
PO Box : 46799 & 25018
Town : Safat 13111
Country : Kuwait
Telephone : (965) 3929762 / 3922133
Facsimile : (965) 3929658
Mobile : (965) 9015274
Email : yaminpsl@hotmail.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are owned and located
in the Central Business Area of Safat.
KEY PRINCIPALS
·
Wadha Mohamed
Al Azmi Proprietor
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Saleh Hussain
Al Azmi General Manager
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Mohamed Yamin Assistant
General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 21st
February 1981
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 30677, Safat
Trade
Licence No. : 171/81
Membership No. : 10128
Invested Capital
: KD 50,000
Mr Wadha Mohamed Al
Azmi 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 general scaffolding,
sandblasting and painting contractors.
Subject has a
workforce of 86 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in Kuwait are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
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Commercial
Bank of Kuwait SAK
Mubarak Al Kabir Street
PO Box : 2861
Safat 13029
Tel : (965) 2411001
Fax : (965) 2450150
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in 1981,
subject is owned and managed by Mr Wadha Mohamed Al Azmi who is well respected
in the local business community.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk and
the above credit figure is considered to be within subject’s financial means.
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%)