MIRA INFORM REPORT

 

 

Report Date :

20.10.2008

 

 

IDENTIFICATION DETAILS

 

Name :

SAYED HAMID BEHBEHANI & SONS CO

 

 

Registered Office :

Shuaiba Industrial Area, PO Box 3065, Safat 13031

 

 

Country :

Kuwait

 

 

Date of Incorporation :

1968

 

 

Com. Reg. No.:

14696

 

 

Legal Form :

With Limited Liability - WLL

 

 

Line of Business :

Engineering, Procurement and Construction Services

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 900,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

SUMMARY

 

Company Name                                      : SAYED HAMID BEHBEHANI & SONS CO

Country of Origin                                    : Kuwait

Legal Form                                            : With Limited Liability - WLL

Start Date                                             : 1968

Registration Date                                   : 15th August 2006

Commercial Registration Number            : 14696

Trade Licence Number                            : 11593

Chamber Membership Number                : 103514

Issued Capital                                        : KD 4,000,000

Paid up Capital                                      : KD 4,000,000

Total Workforce                                     : 650

Activities                                               : Engineering, procurement and construction services

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 900,000

 

 

 

 

 

COMPANY NAME

 

SAYED HAMID BEHBEHANI & SONS CO

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Shuaiba Industrial Area

PO Box             : 3065

Town                 : Safat 13031

Country             : Kuwait

Telephone         : (965) 3260633 / 3260644 / 3260655 / 3360756

Facsimile          : (965) 3260755

Email                : shbcmech@shbcmech.com

 

Premises

 

Subject operates from a large suite of offices, warehousing and workshop facilities that are owned and located in the Industrial Area of Safat.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Fouad Sayed Hamid Behbahani                                                          Managing Director

 

·       Nasserallah Sayed Hamid Behbahani                                      Director

 

·       Amal Nasserallah Sayed Hamid Behbahani                                         Director

 

·       Anwar Nasserallah Sayed Hamid Behbahani                                        Director

 

·       Naizh Abdulrahman                                                                           General Manager

 

·       Milad Shaker                                                                                    Finance Manager

 

·       Mohamed Haggar                                                                              Procurement Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : Subject’s operations date back to 1968, however it was registered on 15th August 2006

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 14696

 

Trade Licence No.       : 11593

 

Chamber Member No. : 103514

 

Issued Capital              : KD 4,000,000

 

Paid up Capital            : KD 4,000,000

 

Name of Shareholder (s)

 

·       Fouad Sayed Hamid Behbahani

 

·       Nasserallah Sayed Hamid Behbahani

 

·       Amal Nasserallah Sayed Hamid Behbahani

 

·       Anwar Nasserallah Sayed Hamid Behbahani

 

 

OPERATIONS

 

Activities: Subject provides fully integrated engineering, procurement and construction services.

 

Import Countries: Europe, United States of America, China and India

 

Subject has a workforce of approximately 650 employees.

 

 

FINANCIAL DATA

 

Companies registered in Kuwait are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       National Bank of Kuwait

Ali Awadi Tower

Ahmed Al Jaber Street

PO Box 95

Safat 13001

Tel: (965) 3981188 / 3981189

Fax: (965) 3985643

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.83

UK Pound

1

Rs.85.12

Euro

1

Rs.65.86

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions