MIRA
INFORM REPORT
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Report Date : |
28.09.2007 |
IDENTIFICATION DETAILS
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Name : |
BAHRAH TRADING CO
WLL |
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Registered Office : |
Building No.
195/196, Plot No. 1, Al
Rai Industrial Area, |
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Country : |
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Date of Incorporation : |
27th September 1965 |
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Com. Reg. No.: |
13511 |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Engaged in the import
and distribution of oilfield equipment, heavy machinery and industrial
supplies. |
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$ 200,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : BAHRAH TRADING CO WLL
Country of Origin :
Legal Form : With Limited Liability - WLL
Registration Date : 27th September 1965
Commercial Registration Number : 13511, Safat
Trade Licence Number : 688/84
Membership Number : 2550
Issued Capital : KD 1,500,000
Paid up Capital : KD 1,500,000
Total Workforce : 300
Line of Business : Distributors of oilfield equipment, heavy machinery and
industrial supplies.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
BAHRAH TRADING CO
WLL
ADDRESS
Registered & Physical Address
Building : Building No. 195/196, Plot No. 1
Area : Al Rai Industrial Area
PO Box : 485 & 5869
Town : Safat 13005
Country :
Telephone : (965) 4761061 / 802008
Facsimile : (965) 4742341
Email : btc@alsayer.org
Premises
Subject operates
from a large suite of offices and a warehouse that are rented and located in
the Industrial Area of Safat.
KEY PRINCIPALS
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Faisal
Bader Al Sayer Managing
Director
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Mohamed
N Al Sayer Director
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Mubarak
N Al Sayer Director
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Musaed B Al Sayer Director
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Sayer
B Al Sayer Director
LEGAL FORM &
OWNERS
Date of Establishment : 27th
September 1965
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 13511, Safat
Trade
Licence No. : 688/84
Membership No. : 2550
Issued Capital : KD 1,500,000
Paid up Capital : KD 1,500,000
Name of Shareholder
(s)
·
Faisal
Bader Al Sayer
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Mohamed
N Al Sayer
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Mubarak
N Al Sayer
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Musaed B Al Sayer
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Sayer
B Al Sayer
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 import and distribution of
oilfield equipment, heavy machinery and industrial supplies.
Import Countries
:
Subject has a workforce
of approximately 300 employees.
FINANCIAL
HIGHLIGHTS
Companies
registered in
BANKERS
·
Commercial
Bank of
PO Box : 2861
Safat 13029
Tel : (965) 2411001
Fax : (965) 2450150
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit
figure of US$ 150,000:
Established in
1965, subject is involved in the import and distribution of oilfield equipment,
heavy machinery and industrial supplies.
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$ 200,000
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%)