MIRA
INFORM REPORT
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Report Date : |
09.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL NAAYEM INTERNATIONAL TRADING AND CONTRACTING EST |
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Registered Office : |
Ali Salem Street,
Central Gold Market, 1st Floor, Office No. 145, PO Box 5470, Safat 13055 |
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Country : |
Kuwait |
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Date of Incorporation : |
23.09.1975 |
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Com. Reg. No.: |
11241 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
General Traders Specialising in Jewellery Items |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL NAAYEM INTERNATIONAL TRADING AND CONTRACTING EST
Country of Origin : Kuwait
Legal Form : Sole Proprietorship
Registration Date : 23rd September 1975
Commercial Registration Number : 11241
Trade Licence Number : 1473/75
Chamber Membership Number : 4702
Invested Capital : KD 50,000
Total Workforce : 5
Activities : General traders specialising in jewellery items
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
AL NAAYEM
INTERNATIONAL TRADING AND CONTRACTING EST
ADDRESS
Registered & Physical Address
Street : Ali Salem Street
Area : Central Gold Market, 1st
Floor, Office No. 145
PO Box : 5470
Town : Safat 13055
Country : Kuwait
Telephone : (965) 2409390 / 2416236 / 2436656 /
2422291
Facsimile : (965) 2416323 / 2436656 / 2416326
Email : naayem@hotmail.com
KEY PRINCIPALS
Name Position
·
Abbass Jowhar
Salem Proprietor
& General Manager
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Ahmed
Abdulaziz Al Laho Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 23rd
September 1975
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 11241
Trade Licence No. : 1473/75
Chamber Member No. : 4702
Invested Capital
: KD 50,000
Mr Abbass Jowhar Salem is the sole proprietor of
the business.
OPERATIONS
Activities: General traders specialising in jewellery
items.
Subject has a
workforce of 5 employees.
FINANCIAL DATA
Companies
registered in Kuwait are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
·
National Bank
of Kuwait
Ali Awadi Tower
Ahmed Al Jaber Street
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
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled.
However local
informants were unable to contact the subject directly to conduct a more
detailed investigation.
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%)