MIRA
INFORM REPORT
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Report Date : |
19.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
MORAD YOUSUF BEHBEHANI |
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Registered Office : |
Shuwaikh
Industrial Area, Road No. 11, Building No. 62, Plot No.1, PO Box 146, Safat 13002 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1966 |
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Com. Reg. No.: |
213 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject’s operations
are performed through the following divisions: General
Trading Division, Jewellery and Watches Division, Engineering Division |
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$ 300,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : MORAD YOUSUF BEHBEHANI
Country of Origin : Kuwait
Legal Form : Sole Proprietorship
Start Date : 1966
Registration Date : 1st January 2002
Commercial Registration Number : 213
Trade Licence Number : 3724/66
Chamber Membership Number : 74500
Invested Capital : KD 250,000
Total Workforce : 200
Activities : Subject operates several divisions (see below for details)
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 300,000
COMPANY NAME
MORAD YOUSUF
BEHBEHANI
ADDRESS
Registered & Physical Address
Location : Shuwaikh
Industrial Area, Road No. 11, Building No. 62, Plot No.1
PO Box : 146
Town : Safat 13002
Country : Kuwait
Telephone : (965) 4844000
Facsimile : (965) 4921428
Email : sales@moradbehbehani.com
Premises
Subject operates
from a large suite of offices that are rented and located in the Industrial Area
of Safat.
Branch Office (s)
Subject operates 10 showrooms located throughout Kuwait.
KEY PRINCIPALS
Name Position
·
Hussain
Morad Yousuf Behbehani General
Manager
·
Hari
Menon Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : Subject’s
operations date back to 1966, however it was registered under its current style
on 1st January 2002
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 213
Trade Licence No. : 3724/66
Chamber Member No. : 74500
Invested Capital
: KD 250,000
The subject was
originally owned by Mr Morad Yousuf Behbehani, however since he passed away the
subject has been owned and managed by Mr Hussain
Morad Yousuf Behbehani and the other legal heirs of Mr Morad Yousuf
Behbehani. No further details were available.
OPERATIONS
Activities: Subject’s operations are performed through
the following divisions:
· General Trading Division
Engaged in the
import and distribution of electrical appliances and air conditioning units.
· Jewellery & Watches Division
Engaged as retailers of jewellery items,
precious stones and gold, as well as watches, spare parts and quality giftware.
· Engineering Division
Engaged as general
contractors and construction engineers.
Import
Countries: Europe, United
States of America, India and China.
Operating Trend: Steady
Subject has a
workforce of approximately 200 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 16,700,000 KD 18,050,000
Local sources
consider subject’s financial condition to be Good.
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%)