MIRA
INFORM REPORT
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Report Date : |
07.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
FANTAZIA TRADING EST |
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Registered Office : |
Al
Itimad Building, Jaleeb Al Shiokh Area, PO Box 29, Farwaniya |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
29.06. 2002 |
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Com. Reg. No.: |
89676 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and Retail of General Foodstuff,
Cleaning Products and Detergents. |
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 : FANTAZIA TRADING EST
Country of Origin : Kuwait
Legal Form : Sole Proprietorship
Registration Date : 29th June 2002
Commercial Registration Number : 89676
Trade Licence Number : 4582/98
Chamber Membership Number : 78440
Invested Capital : KD 100,000
Total Workforce : 26
Activities : Wholesale and retail of general foodstuff, cleaning products and detergents.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
FANTAZIA TRADING
EST
ADDRESS
Registered & Physical Address
Building : Al Itimad Building
Area : Jaleeb
Al Shiokh Area
PO Box : 29
Town : Farwaniya
Country : Kuwait
Telephone : (965) 4343128 / 4334646
Facsimile : (965) 4334646
Email : shofi_shofiep@yahoo.com
Premises
Subject operates
from a medium sized suite of offices and a showroom that are rented and located
in the Central Business Area of Farwaniya.
KEY PRINCIPALS
Name Position
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Mrs
Noura Al Hamoud Proprietor
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Faisal
Al Dasim General
Manager
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Adel
Hussain Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 29th
June 2002
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 89676
Trade Licence No. : 4582/98
Chamber Member No. : 78440
Invested Capital
: KD 100,000
Mrs
Noura Al Hamoud is the sole
proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of general foodstuff, cleaning products and
detergents.
Import
Countries: India, Thailand,
Saudi Arabia and Europe.
Operating Trend: Steady
Subject has a
workforce of 26 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:
Total Sales KD 780,000 KD 950,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Adel Hussain, Finance
Manager.
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
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.
Please note the
subject’s correct address is as given above and not “Al Duloom Building Office
No. 6, Door 2, Jaleeb”.
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%)