MIRA
INFORM REPORT
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Report Date : |
30.05.2007 |
IDENTIFICATION DETAILS
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Name : |
KUWAIT DAIRY
COMPANY SAK |
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Registered Office : |
Sulaibiya
District, |
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Country : |
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Date of Incorporation : |
1960 |
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Com. Reg. No.: |
26776, |
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Legal Form : |
Kuwaiti Joint Stock Company |
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Line of Business : |
Engaged in the production and processing of a range of
dairy products. |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 1,000,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : KUWAIT DAIRY COMPANY SAK
Country of Origin :
Legal Form : Kuwaiti Joint Stock Company
Start Date : 1960
Registration Date : 8th August 1978
Commercial Registration Number :
26776,
Membership Number : 7331
Issued Capital : KD 3,000,000
Paid up Capital : KD 3,000,000
Total Workforce : 490
Line of Business : Production and processing of a range of dairy products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
KUWAIT DAIRY
COMPANY SAK
ADDRESS
Registered & Physical Address
Location : Sulaibiya District
PO Box : 3240
Town : Safat 13033
Country :
Telephone : (965) 4670088 / 4679748 / 4671632 / 4674632
Facsimile : (965) 4676612
Email : info@kdcow.com
Premises
Subject operates
from a suite of offices and production facilities covering an area of 10,000
square meters that are owned
and located in the Industrial Area of Safat.
KEY PRINCIPALS
·
Ahmed
Shams Eldin Chairman
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Ali
Abdullah Al Nasib Managing
Director
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Jassim
Al Qatami Director
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Adel H.
Al Shaker Director
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Salah A. Al Ateeqi General
Manager
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Mostafa
Kamal Sales
Manager
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Rakesh
Kumar Production
Manager
LEGAL FORM &
OWNERS
Date of Establishment : Subject’s
operations date back to 1960, however it was registered on 8th
August 1978.
Legal Form : Societe Anonyme Kuwaiti (Kuwaiti Joint Stock Company)
Commercial Reg. No. : 26776,
Membership No. : 7331
Issued Capital : KD 3,000,000
Paid up Capital : KD 3,000,000
Name of Shareholder
(s)
·
Ahmed
Shams Eldin
·
Ali
Abdullah Al Nasib
·
Jassim
Al Qatami
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Adel H.
Al Shaker
LINE OF BUSINESS
Operations : Engaged in the production and
processing of a range of dairy products including fresh pasteurized milk,
flavoured milk, laban, yoghurt, breakfast cream, labneh, cheese, butter, UHT
long-life products and a wide range of Ice cream products made from 100% fresh
milk, as well as fruit juices.
Production
Capacity: 200,000 litres
per day
Import Countries
:
Brand Names : KD COW
Subject has a
workforce of approximately 490 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in
BANKERS
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PO Box : 24989
Safat 13110
Tel : (965) 2445050
Fax : (965) 2455135
A/c No. 3539-8
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Bank of
Darwaza Abdul Razzak
PO Box : 71
Safat 13001
Tel : (965) 2459771
Fax : (965) 2461430
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
Date of transaction August 2002 July 2005
Credit amount 50,000 66,000
Amount overdue 0 0
Payment terms 60
days 60
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency Pounds
Sterling Pounds
Sterling
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000
Kuwait Dairy
Company SAK has been in business for over 45 years and is a leading concern in
the Kuwaiti dairy industry.
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
within subject’s financial means.
Maximum suggested
credit figure: US$ 1,000,000
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%)