MIRA
INFORM REPORT
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Report Date : |
01.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
FAISAL HULAIFI GENERAL TRADING CONTRACTING EST |
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Registered Office : |
Al Hilal Street, Al
Murgab Area, PO Box 22629,
Safat 13087 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
03.05.1983 |
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Com. Reg. No.: |
34981 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Wholesale and Retail of Curtains and Fabrics, as well as Ladies
Textiles and Fabrics. |
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 : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : FAISAL HULAIFI
GENERAL TRADING CONTRACTING EST
Country of Origin : Kuwait
Legal Form :
Sole Proprietorship
Registration Date : 3rd
May 1983
Commercial
Registration Number : 34981
Trade Licence Number : 871/83
Chamber Membership
Number : 13582
Invested Capital : KD 50,000
Total Workforce : 45
Activities :
Wholesale and retail of curtains and fabrics, as well
as ladies textiles and fabrics.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 200,000
COMPANY NAME
FAISAL HULAIFI GENERAL TRADING
CONTRACTING EST
ADDRESS
Registered & Physical Address
Street : Al Hilal Street
Area : Al Murgab Area
PO Box : 22629
Town : Safat 13087
Country : Kuwait
Telephone : (965) 2461083 /
2461081 / 2461084
Facsimile : (965) 2461082
Email : fhest@qualitynet.net
Premises
Subject operates from a medium sized suite of offices, a showroom and a
warehouse that are rented and located in the Central Business Area of Safat.
Branch Office (s)
Location Description
· Al
Dajij Street Rented
showroom premises
Al Farwaniya Area
Safat
Tel:
(965) 4311100 / 4311199
KEY PRINCIPALS
Name Nationality Position
· Faisal
Hulaifi Al Khaldi Sulabi
Kuwaiti Proprietor
& General Manager
· Ismail Faisal
Hulaifi Al Khaldi - Assistant
General Manager
· Muhail
Faisal Hulaifi Al Khaldi - Commercial
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 3rd
May 1983
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 34981
Trade Licence No. : 871/83
Chamber Member No. : 13582
Invested Capital : KD 50,000
Mr Faisal Hulaifi Al Khaldi Sulabi is
the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of
curtains and fabrics, as well as ladies textiles and fabrics.
Import Countries: India, China and the United Kingdom.
Operating Trend: Steady
Subject has a workforce of 45 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Kuwaiti Dinar (KD)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Sales KD
1,100,000 KD
1,200,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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National Bank of Kuwait
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:
Faisal Hulaifi General Trading Contracting Est has been in business for
approximately 25 years and specialises in the wholesale and retail of curtains and fabrics, as well as ladies textiles and
fabrics.
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 business is considered to be a fair trade risk and
the above credit figure is within subject’s financial means.
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%)