MIRA
INFORM REPORT
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Report Date : |
22.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ABYAN GENERAL TRADING AND CONTRACTING CO |
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Registered Office : |
Al
Rai Industrial Area, Plot No.1,
PO Box 405, Salmiya 22005 |
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Country : |
Kuwait |
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Date of Incorporation : |
20.06.1994 |
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Com. Reg. No.: |
95529 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Import and Distribution of General Merchandise |
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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Maximum Credit Limit : |
US$ 75,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ABYAN GENERAL TRADING AND CONTRACTING CO
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 20th June 1994
Commercial Registration Number : 95529
Trade Licence Number : 2072/2003
Chamber Membership Number : 42362
Issued Capital : KD 50,000
Paid up Capital : KD 50,000
Total Workforce : 20
Activities : Import and distribution of general merchandise
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 75,000
COMPANY NAME
ABYAN GENERAL TRADING
AND CONTRACTING CO
ADDRESS
Registered & Physical Address
Location : Al Rai
Industrial Area, Plot No.1
PO Box : 405
Town : Salmiya 22005
Country : Kuwait
Telephone : (965) 4747518 / 4726322
Facsimile : (965) 4726323
Mobile : (965) 9307061 / 6662066
Email : abyanco@hotmail.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Industrial Area of Salmiya.
KEY PRINCIPALS
Name Position
·
Ahmed
Abduaziz Ahmed Al Ghannam Managing
Director
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Khalid
Abdullah Essa Al Dayeen Director
LEGAL FORM & OWNERS
Date of Establishment : 20th
June 1994
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 95529
Trade Licence No. : 2072/2003
Chamber Member No. : 42362
Issued Capital : KD 50,000
Paid up Capital :
KD 50,000
Name of Shareholder (s)
·
Ahmed
Abduaziz Ahmed Al Ghannam
·
Khalid
Abdullah Essa Al Dayeen
OPERATIONS
Activities: Engaged in the import and distribution of
general merchandise.
Subject has a
workforce of 20 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
·
Commercial
Bank of Kuwait
Salmiya
Tel : (965) 5715989
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.33 |
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UK Pound |
1 |
Rs.84.32 |
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Euro |
1 |
Rs.66.75 |
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%)