MIRA
INFORM REPORT
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Report Date : |
19.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
DASHTI TEX EST |
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Registered Office : |
Souq
Al Fahd, Shop No. 15, Mubarakiya Area, PO Box 311, Sour Al Dakhly 15254 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
16.09. 2000 |
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Com. Reg. No.: |
82072 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and Retail of Textiles and Readymade Garments. |
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 : DASHTI TEX EST
Country of Origin : Kuwait
Legal Form : Sole Proprietorship
Registration Date : 16th September 2000
Commercial Registration Number : 82072
Trade Licence Number : 3486/2000
Chamber Membership Number : 70811
Invested Capital : KD 50,000
Total Workforce : 5
Activities : Wholesale and retail of textiles and readymade garments.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
DASHTI TEX EST
ADDRESS
Registered & Physical Address
Street : Souq
Al Fahd, Shop No. 15
Area : Mubarakiya
Area
PO Box : 311
Town : Sour Al Dakhly 15254
Country : Kuwait
Telephone : (965) 2469283 / 2444131
Facsimile : (965) 2469283
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Sour Al Dakhly.
KEY PRINCIPALS
Name Nationality Position
·
Fakhureddine
Bawa Indian Proprietor
& General Manager
·
Turki
Abdulrahman Abu Shareef Kuwaiti Local
Sponsor
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Hozifa
Bawa - Assistant General Manager
LEGAL FORM & OWNERS
Date of Establishment : 16th
September 2000
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 82072
Trade Licence No. : 3486/2000
Chamber Member No. : 70811
Invested Capital
: KD 50,000
Mr Fakhureddine Bawa is the sole proprietor of the
business.
OPERATIONS
Activities: Engaged in the wholesale and retail of
textiles and readymade garments.
Import
Countries: India, Thailand
and Malaysia
Operating Trend: Steady
Subject has a
workforce of 5 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 850,000 KD 1,000,000
Local sources consider
subject’s financial condition to be Fair.
BANKERS
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Commercial
Bank of Kuwait
Mubarak Al Kabir Street
PO Box : 2861
Safat 13029
Tel : (965) 2411001
Fax : (965) 2450150
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.
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%)