MIRA
INFORM REPORT
|
Report Date : |
18.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
AL FAWARSIYA GENERAL TRADING EST |
|
|
|
|
Registered Office : |
Al Dabbos Building, 3rd Floor, Mecca Street, Fahaheel, P O
Box – 44666, Hawalli 32061, |
|
|
|
|
Country : |
Kuwait |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
20.03.1988 |
|
|
|
|
Com. Reg. No.: |
53759 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Import and Distribution of General
Foodstuff, as well as Spare Parts |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 200,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name :
AL FAWARSIYA GENERAL TRADING EST
Country of Origin :
Kuwait
Legal Form :
Sole Proprietorship
Registration Date :
20th March 1988
Commercial Registration Number :
53759
Chamber Membership Number : 18898
Invested Capital :
KD 50,000
Total Workforce :
12
Activities :
Import and distribution of general foodstuff, as well
as spare parts
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Recommended Credit Limit :
US$ 200,000
COMPANY NAME
AL FAWARSIYA GENERAL TRADING EST
ADDRESS
Registered & Physical Address
Building : Al
Dabbos Building, 3rd Floor
Street : Mecca Street
Area : Fahaheel
PO Box : 44666
Town : Hawalli
32061
Country : Kuwait
Telephone : (965) 3918265
Facsimile : (965) 3928406
Mobile : (965)
7886966 / 7395152
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Hawalli.
KEY PRINCIPALS
Name Position
Mana'a Abdullah Al Dossary Proprietor
& General Manager
Bashir Mohamed Sales
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 20th
March 1988
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 53759
Chamber Member No. : 18898
Invested Capital : KD 50,000
Mr Mana'a Abdullah Al Dossary is the
sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuff, as well as spare parts.
Subject also provides travel services.
Import Countries: India, Thailand and Europe
Operating Trend: Steady
Subject has a workforce of 12 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
2,650,000 KD
2,910,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Burgan Bank
Sheikh Duaij Al Sabah Building
Beirut Street
PO Box : 43973
Hawalli 32054
Tel : (965) 2655763
Fax : (965) 2655749
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. As such the company is considered to be a fair trade risk and
the above credit figure is within subject’s financial means.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.78 |
|
UK Pound |
1 |
Rs.85.51 |
|
Euro |
1 |
Rs.67.90 |
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%)