MIRA
INFORM REPORT
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Report Date : |
05.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
LITE CONCEPT IMPORT & EXPORT CO WLL |
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Registered Office : |
Block 54,
Building 16, Hanad Al Mubarek Street, Salmiya, PO Box 15889, Safat 13099 |
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Country : |
Kuwait |
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Date of Incorporation : |
10.09.2007 |
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Com. Reg. No.: |
322488 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Wholesale and Retail of General Foodstuff |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
EUR 50,000 |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : LITE CONCEPT IMPORT & EXPORT CO WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 10th September 2007
Commercial Registration Number : 322488
Trade Licence Number : 4433/07
Chamber Membership Number : 110956
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
Total Workforce : 7
Activities : Wholesale and retail of general foodstuff
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : EUR 50,000
COMPANY NAME
LITE
CONCEPT IMPORT & EXPORT CO WLL
ADDRESS
Registered &
Physical Address
Building : Block 54, Building 16
Street : Hanad Al Mubarek Street
Area : Salmiya
PO Box : 15889
Town : Safat
13099
Country : Kuwait
Telephone : (965) 5713077 / 5713066
Facsimile : (965) 5713066
Email : luay@liteconcept.biz
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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Abdul
Mohsin Mohamed Ahmed Managing
Director
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Abdullah
Fawzi Al Fouzan Director
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Fawzi
Sulaiman Al Fawzan Director
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Faisal
Hayat Director
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Luay
Jibawi General
Manager
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Ghadeer
Kittana Administrative
Secretary
LEGAL FORM & OWNERS
Date of Establishment : 10th
September 2007
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 322488
Trade Licence No. : 4433/07
Chamber Member No. : 110956
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
Name of Shareholder
(s)
·
Abdul
Mohsin Mohamed Ahmed
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Abdullah
Fawzi Al Fouzan
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Fawzi
Sulaiman Al Fawzan
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Faisal
Hayat
OPERATIONS
Activities: Engaged in the wholesale and retail of general foodstuff.
Import
Countries: India
Subject has a workforce
of 7 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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The Gulf Bank
KSC
Mubarak Al Kabir Street
PO Box : 3200
Safat 13033
Tel : (965) 2449501
Fax : (965) 2445212
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations
undertaken in Kuwait did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.26 |
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UK Pound |
1 |
Rs.79.19 |
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Euro |
1 |
Rs.64.42 |
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%)