MIRA
INFORM REPORT
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Report Date : |
12.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
ROYAL INTERNATIONAL CO WLL |
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Registered Office : |
Ahmadi
Area, Plot No. 9, Building No. 169, PO Box 7256, Qibla 64003 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
07.06. 2004 |
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Com. Reg. No.: |
100884 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Provision of Electrical and Mechanical Services |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ROYAL INTERNATIONAL CO WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 7th June 2004
Commercial Registration Number : 100884
Trade Licence Number : 1927/2004
Chamber Membership Number : 88784
Issued Capital : KD 500,000
Paid up Capital : KD 500,000
Total Workforce : 200
Activities : Provision of electrical and mechanical services
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
Person Contacted : Shahid Mohamed, Administrative Officer
COMPANY NAME
ROYAL INTERNATIONAL
CO WLL
ADDRESS
Registered & Physical Address
Location : Ahmadi
Area, Plot No. 9, Building No. 169
PO Box : 7256
Town : Qibla
64003
Country : Kuwait
Telephone : (965) 23984789 / 23984775
/ 23984776 / 23984778
Facsimile : (965) 23984789
Email : info@royalinternational.net
Premises
Subject operates
from a large suite of offices and a warehouse that are rented and located in
the Industrial Area of Qibla.
KEY PRINCIPALS
Name Nationality Position
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Hamad
Saleh Al Azmi Kuwait Managing Director
·
Zafar
Akhtar Ahmed Sarfaz Indian Director
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Ahlail
Awad Al Harbi Kuwaiti Director
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Shahid
Mohamed - Administrative
Officer
LEGAL FORM & OWNERS
Date of Establishment : 7th
June 2004
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 100884
Trade Licence No. : 1927/2004
Chamber Member No. : 88784
Issued Capital : KD 500,000
Paid up Capital : KD 500,000
Name of Shareholder (s)
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Hamad
Saleh Al Azmi
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Zafar
Akhtar Ahmed Sarfaz
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Ahlail
Awad Al Harbi
OPERATIONS
Activities: Engaged in the provision of electrical and
mechanical services covering installation and maintenance of generation units,
distribution systems, lighting and power units, heating, ventilation and air
conditioning equipment.
Import
Countries: United States of
America, Europe and India
Brand Names: CARRIER, SKM
& TAPCOOL
Operating Trend: Steady
Subject has a workforce
of approximately 200 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Kuwaiti
Dinars (KD)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales KD 4,300,000 KD 5,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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Burgan Bank
PO Box : 5875
Safat 13054
Tel : (965) 2410818
Fax : (965) 2410819
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
company is considered to be a fair trade risk and the above credit figure is
within subject’s financial means.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.79 |
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UK Pound |
1 |
Rs.75.41 |
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Euro |
1 |
Rs.61.48 |
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%)