MIRA
INFORM REPORT
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Report Date : |
16.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL BAKER IBRAHIM & CO |
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Registered Office : |
3 Afat Al
Muzaini, Building No. 4, Mirqab Al Hilali Syreek, PO Box 24346, Safat 13704 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
16.11.1985 |
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Com. Reg. No.: |
24921 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Import and Distribution of Stationery products and Equipment. Retailers of Cosmetic and Beauty products. |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL BAKER IBRAHIM & CO
Also Known As : AL BAKER & IBRAHIM FOR STATIONERY
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 16th November 1985
Commercial Registration Number : 24921
Trade Licence Number : 464/85
Chamber Membership Number : 17219
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Total Workforce : 15
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AL BAKER IBRAHIM
& CO
ALSO KNOWN AS: AL BAKER &
IBRAHIM FOR STATIONERY
ADDRESS
Registered & Physical Address
Location : 3 Afat Al Muzaini, Building No. 4,
Mirqab Al Hilali Syreek
PO Box : 24346
Town : Safat 13704
Country : Kuwait
Telephone : (965) 22418628
Facsimile : (965) 25359154
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Safat.
KEY PRINCIPALS
Name Position
·
Jaber
Mohamed Al Jaber Managing
Director
·
Baker
Ibrahim Director
·
Sabih
Omar Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 16th
November 1985
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 24921
Trade Licence No. : 464/85
Chamber Member No. : 17219
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Name of Shareholder (s)
·
Jaber
Mohamed Al Jaber
·
Baker
Ibrahim
OPERATIONS
Activities: Subject’s operations are performed through
the following divisions:
· Stationery Division
Engaged in the import and
distribution of stationery products and equipment.
·
Cosmetic & Beauty Division
Engaged as retailers of cosmetic and beauty products.
Import
Countries: Spain, France
and India
Operating Trend: Steady
Subject has a
workforce of 15 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 1,290,000 KD 1,400,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Al Ahli Bank
of Kuwait KSC
Mubarak Al Kabir Street
PO Box 1387
Safat 13033
Tel: (965) 22411101 / 22411102
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 figure is
within subject’s financial means.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.33 |
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UK Pound |
1 |
Rs.73.92 |
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Euro |
1 |
Rs.66.69 |
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%)