MIRA
INFORM REPORT
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Report Date : |
03.05.2007 |
IDENTIFICATION DETAILS
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Name : |
SHAMAL |
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Registered Office : |
Shuwaikh
Industrial Area, Safat |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
12th January 2003 |
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Com. Reg. No.: |
92527 |
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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, specialising in poultry. |
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 :
SHAMAL
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 12th January 2003
Commercial Registration Number : 92527
Trade Licence Number : 2003/75
Membership Number : 80712
Invested Capital : KD 10,000
Total Workforce : 8
Line of Business : Distributors of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
SHAMAL
ADDRESS
Registered & Physical Address
Location : Shuwaikh Industrial Area
Town : Safat
Country :
Telephone : (965) 4841885
Facsimile : (965) 4843591
Mobile : (965) 9613916 / 6679016
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Safat.
KEY PRINCIPALS
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Ms
Khzna Mohamed Al Mosaibeh Proprietor
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Tala
Awad Amash Al Otaibi General
Manager
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Talib
Al Obaidi Commercial
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 12th
January 2003
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 92527
Trade
Licence No. : 2003/75
Membership No. : 80712
Invested Capital
: KD 10,000
Ms Khzna
Mohamed Al Mosaibeh 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, specialising in poultry.
Import Countries
: Europe and GCC 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 695,000 KD
800,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Commercial
Bank of
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
2003, subject is involved in the import and distribution of general foodstuff
products, specialising in poultry.
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or 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 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%)