MIRA
INFORM REPORT
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Report Date : |
11.05.2007 |
IDENTIFICATION DETAILS
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Name : |
AL ROUDAN STAR
COMPANY GENERAL TRADING CO WLL |
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Registered Office : |
Al Zammami
Complex, Office No. 7, |
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Country : |
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Date of Incorporation : |
11th March 2007 |
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Com. Reg. No.: |
119294 |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Engaged in the wholesale
and retail of ready made garments, textiles and fabrics. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 15,000 |
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Status : |
New Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AL ROUDAN STAR COMPANY GENERAL TRADING CO WLL
Country of Origin :
Legal Form : With Limited Liability - WLL
Registration Date : 11th March 2007
Commercial Registration Number : 119294
Trade Licence Number : 900/2007
Membership Number : 107175
Issued Capital : KD 250,000
Paid up Capital : KD 250,000
Total Workforce : 12
Line of Business : Wholesalers and retailers of ready made garments, textiles and
fabrics.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
AL ROUDAN STAR
COMPANY GENERAL TRADING CO WLL
ADDRESS
Registered & Physical Address
Building : Al Zammami Complex, Office No. 7
Street :
Town : Hawalli
Country :
Telephone : (965) 2646390 / 9781210
Facsimile : (965) 2646390
Email : abugarbi@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 Hawalli.
KEY PRINCIPALS
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Basheer
Majali Mubarak Managing
Director
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Tariq
Naser Al Roudan Director
LEGAL FORM &
OWNERS
Date of Establishment : 11th
March 2007
Legal Form :
Sharikat Thet Massouliya Mahdoudeh
(With Limited Liability - WLL)
Commercial Reg. No. : 119294
Trade
Licence No. : 900/2007
Membership No. :
107175
Issued Capital : KD 250,000
Paid up Capital : KD 250,000
Name of Shareholder
(s)
·
Basheer
Majali Mubarak
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Tariq
Naser Al Roudan
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 : Engaged in the wholesale and retail of
ready made garments, textiles and fabrics.
Import Countries
:
Subject has a
workforce of 12 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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National
Bank of
Hawalli
Tel : (965) 2653303 / 2645964
Fax : (965) 2611366
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 Hawalli 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$ 15,000
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%)