MIRA
INFORM REPORT
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Report Date : |
02.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
NASER AL KULAIB
GENERAL TRADING & CONT EST |
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Registered Office : |
Fahd Al Salem Street,
Al Salehya Area, P O Box 392, Safat 13004, 238, Dasman 15453, Safat |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
14th August 1984 |
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Com. Reg. No.: |
37941 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
import and distribution of safety equipment and general 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$ 175,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : NASER AL KULAIB GENERAL TRADING & CONT EST
Country of Origin : Kuwait
Legal Form : Sole Proprietorship
Registration Date : 14th August 1984
Commercial Registration Number : 37941
Trade Licence Number : 1885/84
Membership Number : 2156
Invested Capital : KD 100,000
Total Workforce : 30
Line of Business : Distributors of safety equipment and general contractors.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
NASER AL KULAIB
GENERAL TRADING & CONT EST
ADDRESS
Registered & Physical Address
Street : Fahd Al Salem Street
Area : Al Salehya Area
PO Box : 392, Safat 13004
238, Dasman 15453
Town : Safat
Country : Kuwait
Telephone : (965) 2409536 / 2409537 / 2409538
Facsimile : (965) 2410424
Email : nktckwt@rediffmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Safat.
Branch Office (s)
Location Description
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Al Rai
Industrial Area Warehouse
premises
Tel : (965) 4769333
Fax
: (965) 4768444
KEY PRINCIPALS
·
Naser
Abdullatif Moshari Al Kulaib Proprietor
& General Manager
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Mohamed Zaher
Al Azmi Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 14th
August 1984
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 37941
Trade
Licence No. : 1885/84
Membership No. : 2156
Invested Capital
: KD 100,000
Mr Naser Abdullatif
Moshari Al Kulaib 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
safety equipment and general contractors.
Import Countries
: Europe and GCC countries.
Operating Trend
: Steady
Subject has a
workforce of 30 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 2,680,000 KD
2,900,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National Bank
of Kuwait SAK
Ali Awadi Tower
Ahmed Al Jaber Street
PO Box : 95
Safat 13001
Tel : (965) 3981188 / 3981189
Fax : (965) 3985643
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
1984, subject is owned and managed by Mr Naser Abdullatif Moshari Al Kulaib 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$ 175,000
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. |
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%)