MIRA
INFORM REPORT
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Report Date : |
25.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAMARA AUTO SUPPLIERS WLL |
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Registered Office : |
Canada
Dry Street, Shuwaikh
Industrial Area, PO Box 2458, Safat 13025 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
05.01.1965 |
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Com. Reg. No.: |
13859 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Import and Distribution of Auto Spare Parts and Accessories |
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$ 400,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SAMARA AUTO SUPPLIERS WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 5th January 1965
Commercial Registration Number : 13859
Trade Licence Number : 1084/75
Chamber Membership Number : 2183
Issued Capital : KD 500,000
Paid up Capital : KD 500,000
Total Workforce : 60
Activities : Import and distribution of auto spare parts and accessories
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 400,000
COMPANY NAME
SAMARA
AUTO SUPPLIERS WLL
ADDRESS
Registered & Physical Address
Street : Canada
Dry Street
Area : Shuwaikh Industrial Area
PO Box : 2458
Town : Safat 13025
Country : Kuwait
Telephone : (965) 4833059 / 4817738
Facsimile : (965) 4833074 / 4810251
Email : samara@pobox.com
Premises
Subject operates
from a medium sized suite of offices, a showroom and a warehouse that are
rented and located in the Industrial Area of Safat.
KEY PRINCIPALS
Name Nationality Position
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Abdullah
Najam Al Hamedan - Managing
Director
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Najam
Al Hamedan - Director
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Surendar
Kumar Indian Director
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Avnish
Dhawan Indian Director
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Saifi
Dhinoji - Procurement
Manager
LEGAL FORM & OWNERS
Date of Establishment : 5th
January 1965
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 13859
Trade Licence No. : 1084/75
Chamber Member No. : 2183
Issued Capital : KD 500,000
Paid up Capital : KD 500,000
Name of Shareholder (s)
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Abdullah
Najam Al Hamedan
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Najam
Al Hamedan
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Surendar
Kumar
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Avnish
Dhawan
OPERATIONS
Activities: Engaged in the import and distribution of
auto spare parts and accessories.
Import
Countries: China, India
& Turkey
Brand Names: TATA, KIA, HYUNDAI,
FORD, GMC, & CHRYSLER
Operating Trend: Steady
Subject has a
workforce of 60 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 2,850,000 KD 3,110,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Saifi Dhinoji, Procurement
Manager.
BANKERS
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Burgan Bank
PO Box : 5875
Safat 13054
Tel : (965) 2410818
Fax : (965) 2410819
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%)