MIRA
INFORM REPORT
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Report Date : |
24.05.2007 |
IDENTIFICATION DETAILS
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Name : |
GREEN LINE
GENERAL TRADING & CONTRACTING CO WLL |
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Registered Office : |
Behbehani Complex
No. 3, |
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Country : |
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Date of Incorporation : |
25th January 1967 |
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Com. Reg. No.: |
14115 |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Engaged as civil,
infrastructure, road works, environmental works and crude oil tank works
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 : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : GREEN LINE GENERAL TRADING & CONTRACTING CO WLL
Country of Origin :
Legal Form : With Limited Liability - WLL
Registration Date : 25th January 1967
Commercial Registration Number : 14115
Trade Licence Number : 2142/77
Membership Number : 6533
Issued Capital : KD 1,000,000
Paid up Capital : KD 1,000,000
Total Workforce : 250
Line of Business : Civil, infrastructure, road works, environmental works and crude
oil tank works contractors.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
GREEN LINE GENERAL
TRADING & CONTRACTING CO WLL
ADDRESS
Registered & Physical Address
Location : Behbehani Complex No. 3
PO Box : 1122
Town : Ras Al Salmiya 22012
Country :
Telephone : (965) 5710133 / 5742270 / 5730884
Facsimile : (965) 5710083
Email : info@greenlinearabia.com
Premises
Subject operates
from a large suite of offices and a warehouse that are owned and located in the
Central Business Area of Ras Al Salmiya.
KEY PRINCIPALS
Name Nationality Position
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Fareed
Fouzan Al Sabie Kuwaiti Managing Director
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Ghassan
Boull Lebanese Director
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Paul
Anton Kibah Lebanese Director
LEGAL FORM &
OWNERS
Date of Establishment : 25th
January 1967
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 14115
Trade
Licence No. : 2142/77
Membership No. : 6533
Issued Capital : KD 1,000,000
Paid up Capital : KD 1,000,000
Name of Shareholder
(s)
·
Fareed
Fouzan Al Sabie
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Ghassan
Boull
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Paul
Anton Kibah
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 as civil, infrastructure, road
works, environmental works and crude oil tank works contractors.
Subject also
distributes industrial equipment, tools, building materials and furniture and
provides general building related consultancy services.
Import Countries
:
Subject has a
workforce of 250 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in
BANKERS
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Burgan
Bank
PO Box : 5875
Safat 13054
Tel : (965) 2410818
Fax : (965) 2410819
Acc No. 1463658179
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
1967, subject operates as providers of contracting, trading and consultancy
services.
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
company 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%)