MIRA
INFORM REPORT
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Report Date : |
09.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL IRANIAN ITALIAN MARBLE EST |
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Registered Office : |
Bin
Flij Complex, Office No. 17, Street No 26, Shuwaikh
Area, PO Box 137, Shuwaikh 15255 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
03.08.2005 |
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Com. Reg. No.: |
65510 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Distribution of Marble and Granite |
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 IRANIAN ITALIAN MARBLE EST
Country of Origin : Kuwait
Legal Form : Sole Proprietorship
Registration Date : 3rd August 2005
Commercial Registration Number : 65510
Trade Licence Number : 766/95
Chamber Membership Number : 94995
Invested Capital : KD 50,000
Total Workforce : 7
Activities : Import and distribution of marble and granite
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AL IRANIAN ITALIAN
MARBLE EST
ADDRESS
Registered & Physical Address
Building : Bin Flij Complex,
Office No. 17
Street : Street
No 26
Area : Shuwaikh
Area
PO Box : 137
Town : Shuwaikh
15255
Country : Kuwait
Telephone : (965) 4826131 / 4837322 / 4837322
Facsimile : (965) 4826131 / 4829645
Mobile : (965) 6714567
Email : moh2010222@yahoo.com
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Shuwaikh.
KEY PRINCIPALS
Name Position
·
Hussain
Faraj Mohamed Haji Proprietor
& General Manager
·
Mohamed
Jawad Basiri Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 3rd
August 2005
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 65510
Trade Licence No. : 766/95
Chamber Member No. : 94995
Invested Capital
: KD 50,000
Mr Hussain Faraj Mohamed Haji is the sole proprietor of
the business.
OPERATIONS
Activities: Engaged in the import and distribution of
marble and granite.
Import
Countries: Italy and Iran
International
Suppliers:
·
Carrara Italy
·
Cecilia Italy
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Amwaj Iran
·
Rosa
Iran
Operating Trend: Steady
Subject has a
workforce of 7 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Kuwaiti
Dinar (KD)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales KD 1,550,000 KD
1,700,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Mohamed Jawad Basiri,
Assistant General Manager.
BANKERS
·
Bank of Kuwait
& the Middle East KSC
Abdullah Al Salem Street
Darwaza Abdul Razzak
PO Box : 71
Safat 13001
Tel : (965) 2459771
Fax : (965) 2461430
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course of
this investigation nothing detrimental was uncovered regarding the manner in
which payment obligations are fulfilled. The operating history is clear and the
financial situation is satisfactory. As such we are of the opinion that the
subject is 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.43.13 |
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UK Pound |
1 |
Rs.85.02 |
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Euro |
1 |
Rs.67.77 |
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%)