MIRA
INFORM REPORT
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Report Date : |
19.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
TAHA MOHAMED KHALAF GENERAL TRADING & CONTRACTING EST |
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Registered Office : |
Abdullah Al Salem Street, Al Mubarakya
Area, PO Box 20415, Safat 13065 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
01.11.1982 |
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Com. Reg. No.: |
17183,
Safat |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Wholesale and
retail of readymade garments for ladies and gents. |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name :
TAHA MOHAMED KHALAF GENERAL TRADING & CONTRACTING EST
Country of Origin : Kuwait
Legal Form :
Sole Proprietorship
Registration Date : 1st
November 1982
Commercial
Registration Number : 17183, Safat
Trade Licence Number : 1599/82
Chamber Membership
Number : 12254
Invested Capital : KD 50,000
Total Workforce : 16
Activities :
Wholesale and retail of readymade garments for ladies
and gents.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 200,000
COMPANY NAME
TAHA MOHAMED KHALAF GENERAL TRADING & CONTRACTING EST
ADDRESS
Registered & Physical Address
Street : Abdullah Al Salem Street
Area : Al Mubarakya Area
PO Box : 20415
Town : Safat 13065
Country : Kuwait
Telephone : (965) 2420955 /
2482823 / 2428656
Facsimile : (965) 2405913
/ 2407690
Mobile : (965)
9809836
Email : taherabd@qualitynet.net
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Safat.
KEY PRINCIPALS
Name Position
· Taha
Mohamed Khalaf Malluallah Proprietor
· Akbar
Ali Ramsar Wala General
Manager
· Saif
Eddine Qader Ali Assistant
General Manager
· Sandip
Kothari Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1st
November 1982
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 17183, Safat
Trade Licence No. : 1599/82
Chamber Member No. : 12254
Invested Capital : KD 50,000
Mr Taha Mohamed Khalaf Malluallah is
the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of readymade garments for ladies and gents.
Import Countries: India, Pakistan and China.
Operating Trend: Steady
Subject has a workforce of 16 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Kuwaiti Dinar (KD)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Sales KD
2,350,000 KD
2,475,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Burgan Bank
Al
Dabbous Street
PO Box
5389
Safat 13054
Tel:
(965) 3918103
Fax:
(965) 3918098
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.
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%)