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MIRA
INFORM REPORT
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Report Date : |
16.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
KUWAIT FOOD COMPANY SAK (AMERICANA) |
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Registered Office : |
Sheikh Zayed
Road, PO Box 2749, Abu Dhabi |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
29.09.1976 |
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Com. Reg. No.: |
14831 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Operators of food franchises |
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$ 500,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : KUWAIT FOOD COMPANY SAK (AMERICANA)
Country of Origin : Kuwait
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 29th September 1976
Commercial Registration Number : 14831
Trade Licence Number : 1003171
Chamber Membership Number : 2640
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Total Workforce : 540
Activities : Operators of food franchises
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 500,000
COMPANY NAME
KUWAIT FOOD COMPANY
SAK (AMERICANA)
ADDRESS
Registered &
Physical Address
Location : Sheikh Zayed Road
PO Box : 2749
Town : Abu Dhabi
Country : United Arab Emirates
Telephone : (971-2) 6335830
Facsimile : (971-2) 6334243
Email : essamelkhodary@americana.ae
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Abu Dhabi.
Branch Office
(s)
Location Description
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PO Box 6844 Sales
Office
Sharjah
Tel: (971-6) 5554545
Fax: (971-6) 5592296
KEY PRINCIPALS
Name Position
·
Marzooq Al
Khorafai Managing
Director
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Shareef Al
Shareef General
Manager
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Susan Saida Marketing
Manager
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Mohamed Al
Shafai Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 29th
September 1976
Legal Form :
Subject is the United Arab
Emirates registered branch of Kuwait Food Company SAK
(Americana), a Limited Liability Company
incorporated in Kuwait.
Kuwait Food Company SAK (Americana) in the United Arab Emirates,
operates as a Branch
of a Foreign Registered
Corporation with its registered office located at the following
address:
Kuwait Food Company (Americana)
SAK
Plot No. 198, Street 71
Shuwaikh Industrial Area
PO Box 5087
Safat 13051
Tel: (965) 4815900 / 4735476 /
4749543 / 4347938
Fax: (965) 4815914 / 4338464 /
4846925
Email: info@americana-group.com
Commercial Reg. No. : 14831
Trade Licence No. : 1003171
(Expires 02/08/2010)
Chamber Member No. : 2640
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
OPERATIONS
Activities: Subject operates several franchises within
Abu Dhabi and Sharjah including Pizza Hut, KFC, Hardy's and Crispy Cream.
Import
Countries: Europe, the United
States of America and the Far East
Subject has a
workforce of approximately 540 employees.
FINANCIAL DATA
Companies
registered in Abu Dhabi, United Arab Emirates are not legally required to make
their accounts public and no financial information was released by the company
or submitted by outside sources.
BANKERS
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Abu
Dhabi Commercial Bank
Abu Dhabi Commercial Bank Building
Al Salam Street
PO Box : 939
Abu Dhabi
Tel : (971-2) 6962222 / 6962222
Fax : (971-2) 6776499 / 6776499
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.68 |
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UK Pound |
1 |
Rs.84.37 |
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Euro |
1 |
Rs.65.70 |
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%)