MIRA
INFORM REPORT
|
Report Date : |
17.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
AL KANDRI INTERNATIONAL GROUP |
|
|
|
|
Registered Office : |
Al Nasar Complex,
4th Floor, Salem Al Mubarak Street, Safat |
|
|
|
|
Country : |
Kuwait |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
15.06. 2002 |
|
|
|
|
Com. Reg. No.: |
9594 |
|
|
|
|
Legal Form : |
With Limited Liability - WLL |
|
|
|
|
Line of Business : |
General Traders of Foodstuff, Building Materials and Books. General Contractors Specialising in Building Maintenance. |
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 KANDRI INTERNATIONAL GROUP
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 15th June 2002
Commercial Registration Number : 89594
Trade Licence Number : 1699/2002
Chamber Membership Number : 78209
Issued Capital : KD 250,000
Paid up Capital : KD 250,000
Total Workforce : 26
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
AL KANDRI
INTERNATIONAL GROUP
ADDRESS
Registered & Physical Address
Building : Al Nasar Complex, 4th
Floor
Street : Salem Al Mubarak Street
Town : Safat
Country : Kuwait
Telephone : (965) 5750046
Facsimile : (965) 5750093
Email : kiggroup1@yahoo.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Safat.
KEY PRINCIPALS
Name Position
·
Abdulaziz
Ahmed Ibrahim Managing
Director
·
Abdullah
Ahmed Ibrahim Director
·
Ramdan
Al Suwaidi General
Manager
·
Atif
Al Shinawi Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 15th
June 2002
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 89594
Trade Licence No. : 1699/2002
Chamber Member No. : 78209
Issued Capital : KD 250,000
Paid up Capital : KD 250,000
Name of Shareholder (s)
·
Abdulaziz
Ahmed Ibrahim
·
Abdullah
Ahmed Ibrahim
OPERATIONS
Activities: Subject’s operations are performed through
the following divisions:
· General Trading Division
Engaged as general traders of foodstuff, building materials and
books.
·
General Contracting Division
General contractors
specialising in building maintenance.
Import
Countries: India, United
Kingdom and the United States of America
Operating Trend: Steady
Subject has a
workforce of 26 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 1,600,000 KD 1,875,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Ramdan Al Suwaidi,
General 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
|
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%)