MIRA
INFORM REPORT
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Report Date : |
07.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
AZIZ & IKRAM GENERAL TRADING & CONTRACTING CO WLL |
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Registered Office : |
Awqaf Complex,
Tower 12, 2nd Floor, Sharq, PO Box 23874, Safat 13099 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
09.11.1992 |
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Com. Reg. No.: |
48135, Safat |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Import and Distribution of General Foodstuff Products |
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 : AZIZ & IKRAM GENERAL TRADING & CONTRACTING CO WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 9th November 1992
Commercial Registration Number : 48135, Safat
Trade Licence Number : 744/92
Chamber Membership Number : 32985
Issued Capital : KD 60,000
Paid up Capital : KD 60,000
Total Workforce : 8
Activities : Import and distribution of general foodstuff products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : M. Bob, Sales & Finance Manager
COMPANY NAME
AZIZ & IKRAM
GENERAL TRADING & CONTRACTING CO WLL
ADDRESS
Registered & Physical Address
Building : Awqaf Complex, Tower 12, 2nd
Floor
Area : Sharq
PO Box : 23874
Town : Safat 13099
Country : Kuwait
Telephone : (965) 2424678
Facsimile : (965) 2461054
Email : ikram_sa@ncc.moc.kw
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
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Abdulaziz
Khalid Hamd Al Asousi Managing
Director
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Ikram
Salah Ahmadi Director
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Khalifa
Abdulaziz Khalifa Director
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M.
Bob Sales
& Finance Manager
LEGAL FORM & OWNERS
Date of Establishment : 9th
November 1992
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 48135, Safat
Trade Licence No. : 744/92
Chamber Member No. : 32985
Issued Capital : KD 60,000
Paid up Capital : KD 60,000
Name of Shareholder (s)
·
Abdulaziz
Khalid Hamd Al Asousi
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Ikram
Salah Ahmadi
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Khalifa
Abdulaziz Khalifa
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuff products.
Import
Countries: India, Sri
Lanka, Thailand and China
Operating Trend: Steady
Subject has a
workforce of 8 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 950,000 KD 1,200,000
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
Shuwaikh
PO Box 5389
Safat 13054
Tel: (965) 4830433
Fax: (965) 4830690
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.48.01 |
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UK Pound |
1 |
Rs.84.16 |
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Euro |
1 |
Rs.65.20 |
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%)