MIRA
INFORM REPORT
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Report Date : |
01.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
HASSAN ABUL GENERAL TRADING & CONTRACTING CO WLL |
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Registered Office : |
Tunis Street, Hawally, PO
Box 3034, Safat 13031 |
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Country : |
Kuwait |
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Date of Incorporation : |
11.11.2000 |
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Com. Reg. No.: |
91464 |
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Legal Form : |
With Limited
Liability - WLL |
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Line of Business : |
Import and
Distribution of Ceramics, Sanitary Ware, Doors, Water Circulation Systems,
Marble, Flooring, Kitchen Units and Aluminium. |
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 : HASSAN ABUL GENERAL TRADING & CONTRACTING CO WLL
Country of Origin : Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date : 11th
November 2000
Commercial
Registration Number : 91464
Trade Licence Number : 3005/2002
Chamber Membership
Number : 66576
Issued Capital : KD
100,000
Paid up Capital : KD
100,000
Total Workforce : 50
Activities :
Import and distribution of ceramics, sanitary ware, doors, water circulation
systems, marble, flooring, kitchen units and aluminium.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Recommended Credit
Limit : US$ 200,000
COMPANY NAME
HASSAN ABUL GENERAL TRADING &
CONTRACTING CO WLL
ADDRESS
Registered & Physical Address
Street : Tunis Street
Area : Hawally
PO Box : 3034
Town : Safat 13031
Country : Kuwait
Telephone : (965) 4827763 / 4838669 / 2624466
Facsimile : (965) 4827762 / 2633111 /
2661444
Email : info@hassan-abul.com
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Safat.
KEY PRINCIPALS
Name Position
· Hassan Abul Sadiq Managing
Director
· Khalid Hassan Abul Sadiq Director
· Aref Hassan Abul Sadiq Director
LEGAL FORM & OWNERS
Date of
Establishment : 11th
November 2000
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 91464
Trade Licence No. : 3005/2002
Chamber Member No. : 66576
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Name of Shareholder (s)
· Hassan Abul Sadiq
· Khalid Hassan Abul Sadiq
· Aref Hassan Abul Sadiq
OPERATIONS
Activities: Subject is engaged in the import and distribution of ceramics, sanitary
ware, doors, water circulation
systems, marble, flooring, kitchen units
and aluminium.
Import Countries: Italy, Greece and India.
Subject has a workforce of 50 employees.
FINANCIAL DATA
Companies registered in Kuwait are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
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:
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 deemed admissible.
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%)