MIRA
INFORM REPORT
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Report Date : |
11.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
O AND G ENGINEERING GENERAL TRADING & CONTRACTING CO WLL |
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Registered Office : |
Al Ahmadi Area, Plot No. 6, Blgd 98/96/94, P O Box -
9298, Ahmadi 61003 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
04.07.1976 |
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Com. Reg. No.: |
116989 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
General contractors specialising in oil
field, gas equipment, marine and petroleum services. |
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$ 500,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name :
O AND G ENGINEERING GENERAL TRADING & CONTRACTING CO
WLL
Country of Origin :
Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date :
4th July 1976
Commercial Registration Number :
116989
Trade Licence Number :
5906/2006
Chamber Membership Number :
5378
Issued Capital :
KD 2,000,000
Paid up Capital :
KD 2,000,000
Total Workforce :
200
Activities :
General contractors specialising in oil field, gas
equipment, marine and
petroleum services.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit :
US$ 500,000
COMPANY NAME
O AND G ENGINEERING GENERAL TRADING & CONTRACTING CO WLL
ADDRESS
Registered &
Physical Address
Location : Al Ahmadi Area, Plot No. 6, Blgd 98/96/94
PO Box : 9298
Town : Ahmadi 61003
Country : Kuwait
Telephone : (965) 3984234 /
3985570 / 3984233
Facsimile : (965) 3988855
Mobile : (965)
9733559
Email : sultanasad@sultanasad.com
Premises
Subject operates from a large suite of offices and a warehouse that are
rented and located in the Industrial Area of Ahmadi.
KEY PRINCIPALS
Name Position
Abdul Hussain Juma Johar Sheba Managing
Director
Fahd Mohamed Fahd Al Rashed Director
Mohamed Jaber Naif Al Otaibi General
Manager
Ansari Mohamed Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 4th
July 1976
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 116989
Trade Licence No. : 5906/2006
Chamber Member No. : 5378
Issued Capital : KD 2,000,000
Paid up Capital : KD 2,000,000
Name of Shareholder
(s)
Abdul Hussain Juma Johar Sheba
Fahd Mohamed Fahd Al Rashed
OPERATIONS
Activities: Engaged
as general contractors specialising in oil field, gas equipment, marine and
petroleum services.
Import Countries: Japan
and the United States of America
Operating Trend: Steady
Subject has a workforce of approximately 200 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
1,500,000 KD
2,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures were confirmed by Mr Ansari Mohamed, Finance Manager.
BANKERS
Commercial Bank of Kuwait
Mubarak Al Kabir Street
PO Box : 2861
Safat 13029
Tel : (965) 2411001
Fax : (965) 2450150
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.
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%)