MIRA
INFORM REPORT
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Report Date : |
05.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
KUWAITI KAMAR GENERAL TRADING AND CONTRACTING ESTABLISHMENT |
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Registered Office : |
Macca Street, Building 29, Fourth Floor, Plot Number 65, PO Box,
46106, Fahaheel 64012 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
07.07.1983 |
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Com. Reg. No.: |
35561 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Subject operates
with a General Trade Licence. |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : KUWAITI
KAMAR GENERAL TRADING AND CONTRACTING
ESTABLISHMENT
Country of Origin : Kuwait
Legal Form :
Sole Proprietorship
Registration Date : 7th
July 1983
Commercial
Registration Number : 35561
Trade Licence Number : 1577/83
Membership Number : 13940
Invested Capital : KD 50,000
Total Workforce : 5
Line of Business : Subject
operates with a general trade licence.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
KUWAITI KAMAR GENERAL TRADING AND CONTRACTING ESTABLISHMENT
ADDRESS
Registered & Physical Address
Location : Macca Street,
Building 29, Fourth Floor, Plot Number 65
PO Box : 46106
Town : Fahaheel
64012
Country : Kuwait
Telephone : (965) 3924184 /
3917722
Facsimile : (965) 3916664
HEAD OFFICE
AL Hindi Commercial Centre, Mecca St. Fahaheel, 5th Floor
Tel No.: 3924184
Fax No.: 3916664
FOODSTUFF DIVISION – DUWAISH COMPLEX
Jeleeb Shuyukh, 3rd Floor, Office # 38
Tel No.: 4339493 / 7609944
Fax No.: 4315117 / 3916664
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Fahaheel.
KEY PRINCIPALS
·
Lafi Saoud Mohamed Al Mutairi Proprietor
& General Manager
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Mr. Sam G. Nilamel
LEGAL FORM & OWNERS
Date of
Establishment : 7th
July 1983
Legal Form : Mouassasa Khassa
(Sole Proprietorship)
Commercial Reg.
No. : 35561
Trade Licence No. : 1577/83
Membership No. : 13940
Invested Capital : KD 50,000
Mr Lafi Saoud Mohamed Al Mutairi is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines
Mouassasa Khassa as the business of an individual where liability for all debts
is unlimited. The business is the entire responsibility of its proprietor, who
is liable for all its debts to the extent of his entire wealth. There are no
legal requirements concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations: Subject operates with a general trade licence and is engaged in the
import and
distribution of general merchandise.
Import Countries : India and Saudi Arabia.
Operating Trend : Steady
Subject has a workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Kuwaiti Dinars (KD)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Revenue KD
825,000 KD
880,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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Kuwait Finance House (KFH)
Safat Square
Abdullah Al Mubarak Street
PO Box : 24989
Safat 13110
Tel : (965) 2445050
Fax : (965) 2455135
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
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 business is considered to be a fair trade risk and
the above credit figure is within subject’s financial means.
Maximum suggested credit figure: US$ 150,000
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%)