MIRA
INFORM REPORT
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Report Date : |
06.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
IBRAHIM AL NAJJAR INTERNATIONAL GENERAL TRADING AND CONTRACTING CO |
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Registered Office : |
Majmaa Plaza, Al
Salmiya, PO Box 44660, Hawalli 32061 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
02.01.1984 |
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Com. Reg. No.: |
35683 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Import and Distribution of Sugar and urea, as well as
General Construction and Maintenance Contracting Services |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : IBRAHIM AL NAJJAR INTERNATIONAL GENERAL TRADING AND
CONTRACTING CO
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 2nd January 1984
Commercial Registration Number : 35683
Trade Licence Number : 6659/83
Chamber Membership Number : 14661
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
Total Workforce : 51
Activities : Import and distribution of sugar and urea, as well as general construction and maintenance contracting services
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
IBRAHIM AL NAJJAR
INTERNATIONAL GENERAL TRADING AND CONTRACTING CO
ADDRESS
Registered &
Physical Address
Building : Majmaa Plaza
Area : Al Salmiya
PO Box : 44660
Town : Hawalli 32061
Country : Kuwait
Telephone : (965) 2636626 / 2636627
Facsimile : (965) 2636627
Mobile : (965) 807780
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Hawalli.
KEY PRINCIPALS
Name Position
·
Adel
Ibrahim Al Najjar Managing
Director
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Ahmed
Adel Al Najjar Director
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Ibrahim
Adel Al Najjar Director
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Sheik
Zaki Ahmed General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2nd
January 1984
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 35683
Trade Licence No. : 6659/83
Chamber Member No. : 14661
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
Name of Shareholder (s)
·
Adel
Ibrahim Al Najjar
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Ahmed
Adel Al Najjar
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Ibrahim
Adel Al Najjar
OPERATIONS
Activities: Engaged
in the import and distribution of sugar and urea.
Subject also provides general construction and maintenance contracting
services for the real estate industry.
Import
Countries: India and Sri Lanka
Operating Trend: Steady
Subject has a
workforce of 51 employees.
FINANCIAL DATA
Financial highlights
provided by local sources are given below:
Currency: Kuwaiti
Dinars (KD)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales KD 2,000,000 KD 2,500,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Sheik Zaki Ahmed,
General Manager.
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
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
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.00 |
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UK Pound |
1 |
Rs.82.14 |
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Euro |
1 |
Rs.65.09 |
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%)