MIRA
INFORM REPORT
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Report Date : |
21.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
GHLOOM ABU AL
MALEK |
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Registered Office : |
Mubarikia Abroomi
& Arbash Complex, P O Box 8863, Salmiya 22059 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
4755 |
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Com. Reg. No.: |
5th March 1960 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
wholesale and retail of fruit and vegetables. |
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 : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : GHLOOM ABU AL MALEK
Country of Origin : Kuwait
Legal Form : Sole Proprietorship
Registration Date : 5th March 1960
Commercial Registration Number : 4755
Trade Licence No. : 335/65
Membership Number : 1088
Invested Capital : KD 10,000
Total Workforce : 6
Line of Business : Wholesalers and retailers of fruit and vegetables.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
GHLOOM ABU AL MALEK
ADDRESS
Registered & Physical Address
Location : Mubarikia Abroomi & Arbash
Complex
PO Box : 8863
Town : Salmiya 22059
Country : Kuwait
Telephone : (965) 2435354
Facsimile : (965) 2401096
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Salmiya.
KEY PRINCIPALS
·
Ghloom Abu Al
Malek Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 5th
March 1960
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 4755
Trade
Licence No. : 335/65
Membership No. : 1088
Invested Capital
: KD 10,000
Mr Ghloom Abu Al
Malek 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 wholesale and retail of
fruit and vegetables.
Import Countries
: Europe and GCC countries.
Operating Trend
: Steady
Subject has a
workforce of 6 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 890,000 KD
917,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
·
Kuwait
Financial Centre
Universal Tower
Ahmed Al Jaber Street
PO Box : 23444
Safat 13095
Tel : (965) 2248000
Fax
: (965) 2425828
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in 1960,
subject is owned and managed by Mr Ghloom Abu Al Malek 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 business 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$ 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. |
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%)