MIRA
INFORM REPORT
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Report Date : |
01.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
JABAL AL NOUR NOVELTIES EXHIBITION |
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Registered Office : |
Plot Number 4, Shop Number 21, Al Qibla, PO Box 31166 & 2953,
Safat 13013 |
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Country : |
Kuwait |
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Date of Incorporation : |
08.09.1976 |
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Com. Reg. No.: |
15567, Safat |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Wholesalers and
retailers of ready made garments, footwear and fashion accessories |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : JABAL AL NOUR
NOVELTIES EXHIBITION
Country of Origin : Kuwait
Legal Form :
Sole Proprietorship
Registration Date : 8th
September 1976
Commercial
Registration Number : 15567,
Safat
Trade Licence Number : 4909/76
Membership Number : 5539
Invested Capital : KD 50,000
Total Workforce : 8
Line of Business :
Wholesalers and retailers of ready made garments,
footwear and fashion accessories.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
JABAL AL NOUR NOVELTIES EXHIBITION
ADDRESS
Registered & Physical Address
Building : Plot Number
4, Shop Number 21
Area : Al Qibla
PO Box : 31166 &
2953
Town : Safat 13013
Country : Kuwait
Telephone : (965) 2436248 /
2418716 / 5735485
Facsimile : (965) 2457683
/ 2421750
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Safat.
KEY PRINCIPALS
·
Obaid Mozkher Al Doian Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 8th September
1976
Legal Form : Mouassasa Khassa
(Sole Proprietorship)
Commercial Reg.
No. : 15567, Safat
Trade Licence No. :
4909/76
Membership No. : 5539
Invested Capital : KD 50,000
Mr Obaid Mozkher Al Doian is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines
Mouassasa Khassa as the business of an individual where liability for all debts
is unlimited. The business is the entire responsibility of its proprietor, who
is liable for all its debts to the extent of his entire wealth. There are no
legal requirements concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations : Engaged in the wholesale and retail of ready made garments,
footwear and fashion accessories.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 8 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Kuwaiti Dinars (KD)
Year
Ending 31/12/05 : Year
Ending 31/12/06 :
Total Revenue KD
925,000 KD
1,060,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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Commercial Bank of Kuwait SAK
Mubarak
Al Kabir Street
PO Box :
2861
Safat
13029
Tel :
(965) 2411001
Fax :
(965) 2450150
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1976, subject is involved in the wholesale and retail of
ready made garments, footwear and fashion accessories.
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 business is considered to be a fair trade risk.
Maximum suggested credit figure: US$ 100,000
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%)