MIRA
INFORM REPORT
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Report Date : |
29.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHAHOB AL WATAN CO |
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Registered Office : |
Al Mojil
Commercial Centre, Mirgab Abdullah Mubarak Street, Al Qibla Area,
Safat |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
30.09. 2006 |
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Com. Reg. No.: |
11588 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Import and Distribution of Building Materials and General
Foodstuff. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 150,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Company |
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Litigation : |
Clear |
SUMMARY
Company Name : SHAHOB AL WATAN CO
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 30th September 2006
Commercial Registration Number : 11588
Trade Licence Number : 4555/2006
Chamber Membership Number : 104297
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
Total Workforce : 45
Activities : Import and distribution of building materials and general foodstuff.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
SHAHOB AL WATAN CO
ADDRESS
Registered & Physical Address
Building : Al Mojil Commercial Centre
Street : Mirgab Abdullah Mubarak Street
Area : Al Qibla Area
Town : Safat
Country : Kuwait
Telephone : (965) 2454770 / 6177457
Facsimile : (965) 2454771
Mobile : (965) 9003670
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
·
Mohamed
Al Ansar Managing
Director
·
Ghulam
Sakhi Mohamed Daoud Director
·
Shah
Mohamed Daoud General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 30th
September 2006
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 11588
Trade Licence No. : 4555/2006
Chamber Member No. : 104297
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
Name of Shareholder (s)
·
Mohamed
Al Ansar
·
Ghulam
Sakhi Mohamed Daoud
AFFILIATED COMPANIES
·
Arayana
Al Mostakila Co
Safat
OPERATIONS
Activities: Subject’s operations are performed through
the following divisions:
· Building Materials Division
Engaged in the import and distribution of
building materials, ceramics and construction equipment.
· Foodstuff Division
Engaged as traders of general foodstuff
products.
Import
Countries: United States of
America, United Kingdom and the Far East.
Subject has a
workforce of 45 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Kuwaiti
Dinars (KD)
Year
Ending 31/12/07:
Total Sales KD
2,600,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Shah Mohamed Daoud –
General Manager.
BANKERS
·
Kuwait Finance
House (KFH)
Safat Square
Abdullah Al Mubarak Street
PO Box : 24989
Safat 13110
Tel : (965) 2445050
Fax : (965) 2455135
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Shahob Al Watan Co is a relatively new business with operations commencing in
September 2006. It is engaged in the import and distribution of building
materials and general foodstuff.
According
to local sources subject is making steady progress in the local business market
and nothing detrimental has been reported regarding the manner in which
payments are fulfilled. As such the company is considered to be a fair trade
risk and the above amount is considered to be 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%)