MIRA
INFORM REPORT
|
Report Date : |
29.12.2008 |
IDENTIFICATION DETAILS
|
Name : |
FRESH WORLD INTERNATIONAL GENERAL TRADING |
|
|
|
|
Registered Office : |
Al
Qibla Area, Block No 15, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
17.09.2007 |
|
|
|
|
Com. Reg. No.: |
321356 |
|
|
|
|
Legal Form : |
Kuwait Shareholding Company Closed - KSCC |
|
|
|
|
Line of Business : |
Import, Processing and Packing of Vegetables |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
US$ 100,000 |
|
|
|
|
Status : |
New Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : FRESH WORLD INTERNATIONAL GENERAL TRADING
Country of Origin :
Legal Form : Kuwait Shareholding Company Closed - KSCC
Registration Date : 17th September 2007
Commercial Registration Number : 321356
Trade Licence Number : 1656/2007
Chamber Membership Number : 111049
Issued Capital : KD 10,000,000
Paid up Capital : KD 10,000,000
Total Workforce : 160
Activities : Import, processing and packing of vegetables
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 100,000
Person Interviewed : Ms Ouhood Al Dossary, General Manager
COMPANY NAME
FRESH
WORLD INTERNATIONAL GENERAL TRADING
ADDRESS
Registered & Physical Address
Location : Al Qibla
Area, Block No 15
PO Box : 22644
Town : Safat 13087
Country :
Telephone : 965) 22256367
/ 22517091 / 22517092 / 22254025 (
Facsimile : (965) 22256368 / 22545791
Email : ouhood@nrec.com
Premises
Subject operates from
a medium sized suite of offices and a warehouse that are rented and located in
the Industrial Area of Safat.
KEY PRINCIPALS
Name Position
·
Bader Faisal Abdulaziz Al Mutawa Chairman
·
Raed Sulaiman Yousef Al Haneef Director
·
Ms Ouhood Al Dossary General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 17th
September 2007
Legal Form :
Kuwait Shareholding Company
Closed - KSCC
Commercial Reg. No. : 321356
Trade Licence No. : 1656/2007
Chamber Member No. : 111049
Issued Capital : KD 10,000,000
Paid up Capital : KD 10,000,000
Name of Shareholder (s)
·
National Real Estate Property Co
Safat
·
Bader Faisal Abdulaziz Al Mutawa
·
Raed Sulaiman Yousef Al Haneef
OPERATIONS
Activities: Engaged in the import, processing and
packing of vegetables.
Import
Countries:
Subject has a
workforce of approximately 160 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
·
National
Bank of
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
Investigations
undertaken in Kuwait did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.76 |
|
|
1 |
Rs.71.68 |
|
Euro |
1 |
Rs.69.17 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)