MIRA
INFORM REPORT
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Report Date : |
11.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
A TO Z BARTER GENERAL TRADING CO |
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Registered Office : |
Canada Dry Street, Shuwaikh
Industrial Area, PO Box 40190, Shuwaikh 30981 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
05.02.2006 |
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Com. Reg. No.: |
107061 |
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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 Tyres. |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : A TO Z BARTER GENERAL TRADING CO
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 5th February 2006
Commercial Registration Number : 107061
Trade Licence Number : 1834/2005
Chamber Membership Number : 99478
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
Total Workforce : 20
Activities : Import and distribution of auto spare parts and tyres.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 100,000
COMPANY NAME
A TO Z BARTER GENERAL TRADING CO
ADDRESS
Registered & Physical Address
Street : Canada Dry Street
Area : Shuwaikh Industrial Area
PO Box : 40190
Town : Shuwaikh 30981
Country : Kuwait
Telephone : (965) 4910001
Facsimile : (965) 4819307
Mobile : (965) 9609888
Email : h_sahni@hotmail.com
Premises
Subject operates from a small suite of offices, a showroom and warehouse
that are rented and located in the Industrial Area of Shuwaikh.
KEY PRINCIPALS
Name Nationality Position
· Bader
Abdul Karim Zankawi Kuwaiti Managing Director
· Mohamed
Abdul Karim Zankawi Kuwaiti Director
· Harvinder
Singh Sahni Indian Director
LEGAL FORM & OWNERS
Date of
Establishment : 5th
February 2006
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 107061
Trade Licence No. : 1834/2005
Chamber Member No. : 99478
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
Name of Shareholder (s)
· Bader
Abdul Karim Zankawi
· Mohamed
Abdul Karim Zankawi
· Harvinder
Singh Sahni
OPERATIONS
Activities: Engaged in the import and distribution of
auto spare parts and tyres, specialising in German brands.
Import Countries: Indonesia and Germany.
International Suppliers:
· GT
Tyres Indonesia
Subject has a workforce of 20 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Kuwaiti Dinars (KD)
Year
Ending 31/12/07:
Sales KD
15,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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Bank of Kuwait & the Middle East KSC
Abdullah Al Salem Street
Darwaza Abdul Razzak
PO Box : 71
Safat 13001
Tel : (965) 2459771
Fax : (965) 2461430
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
A To Z Barter General Trading Co is a relatively new business with operations commencing in February 2006. It is engaged in the import and distribution of auto spare parts and tyres, specialising in German brands.
According to local sources subject is making steady progress in the local business market and nothing detrimental has been reported regarding the manner in which payments are fulfilled. As such the company is considered to be a fair trade risk.
The report contents and financial data was confirmed by Mr Harvinder Singh Sahni.
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%)