MIRA
INFORM REPORT
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Report Date : |
01.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHAMA INTERNATIONAL GENERAL TRADING CO WLL |
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Registered Office : |
Shuwaikh
Wholesale Market, PO Box 717 &
17344, Al Khaldaya 72454 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
2003 |
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Com. Reg. No.: |
92425 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Import and Distribution of Chilled and Frozen Foodstuff
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 : SHAMA INTERNATIONAL GENERAL TRADING CO WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Start Date : 2003
Registration Date : 15th February 2005
Commercial Registration Number : 92425
Trade Licence Number : 651/2005
Chamber Membership Number : 80466
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Total Workforce : 15
Activities : Import and distribution of chilled and frozen foodstuff products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
SHAMA INTERNATIONAL
GENERAL TRADING CO WLL
ADDRESS
Registered & Physical Address
Location : Shuwaikh Wholesale Market
PO Box : 717 & 17344
Town : Al Khaldaya 72454
Country : Kuwait
Telephone : (965) 4825429
/ 4829302
Facsimile : (965) 4823301
Mobile : (965) 7888730
Email : shamameat@yahoo.com
Premises
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Central Business Area of Al Khaldaya.
KEY PRINCIPALS
Name Nationality Position
·
Shadi Al Aswad Syrian Managing Director
·
Mrs
Fatima Saud Abdulaziz Kuwaiti Director
·
Mahmoud Al
Aswad Syrian General Manager
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Abdulrazzaq
Taftab Syrian Assistant General Manager
LEGAL FORM & OWNERS
Date of Establishment : Subject’s
operations date back to 2003, however it was registered on 15th
February 2005
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 92425
Trade Licence No. : 651/2005
Chamber Member No. : 80466
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Name of Shareholder (s)
·
Shadi Al Aswad
·
Mrs
Fatima Saud Abdulaziz
AFFILIATED COMPANIES
·
Soma
International Fruits Co
PO Box : 717
Farwaniya
OPERATIONS
Activities: Engaged in the import and distribution of
chilled and frozen foodstuff products, including meat and poultry.
Import
Countries: Europe and the
Far East
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 1,085,000 KD 1,250,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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Commercial
Bank of Kuwait SAK
Main Branch
Farwaniya
Tel : (965) 4744808
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
2003, subject is involved in the import and distribution of chilled and frozen
foodstuff products.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the business is deemed a fair trade risk. As such the above credit figure is
considered to be 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.43.27 |
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UK Pound |
1 |
Rs.86.28 |
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Euro |
1 |
Rs.68.24 |
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%)