MIRA
INFORM REPORT
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Report Date : |
15.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
ACME GENERAL TRADING & CONTRACTING CO WLL |
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Registered Office : |
Plot No. 66,
Conan Street, Fahaheel, PO Box 9856,
Ahmadi 61009 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
18.12. 2006 |
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Com. Reg. No.: |
322141 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
General Fabrication Contractors |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ACME GENERAL TRADING & CONTRACTING CO WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 18th December 2006
Commercial Registration Number : 322141
Trade Licence Number : 4090/2007
Chamber Membership Number : 105346
Issued Capital : KD 250,000
Paid up Capital : KD 250,000
Total Workforce : 120
Activities : General fabrication contractors
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 200,000
COMPANY NAME
ACME GENERAL
TRADING & CONTRACTING CO WLL
ADDRESS
Registered & Physical Address
Location : Plot No. 66
Street : Conan Street
Area : Fahaheel
PO Box : 9856
Town : Ahmadi 61009
Country : Kuwait
Telephone : (965) 3920974 / 3920548
Facsimile : (965) 3912301
Mobile : (965) 9798455 / 9612046
Email : acme@acmeprojects.org
Premises
Subject operates
from a medium sized suite of offices, a workshop and a warehouse that are
rented and located in the Industrial Area of Ahmadi.
KEY PRINCIPALS
Name Nationality Position
·
Ahmed
Abdullah Al Anzi Kuwaiti Managing Director
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Ana
Manjo Mathew Indian Director
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Anjo
A. Jaktoob Indian Director
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Beno
John Philip - General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 18th
December 2006
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 322141
Trade Licence No. : 4090/2007
Chamber Member No. : 105346
Issued Capital : KD 250,000
Paid up Capital : KD 250,000
Name of Shareholder (s)
·
Ahmed
Abdullah Al Anzi
·
Ana
Manjo Mathew
·
Anjo
A. Jaktoob
OPERATIONS
Activities: Engages as
general fabrication contractors.
Import
Countries: India and China
Subject has a
workforce of approximately 120 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Kuwaiti
Dinars (KD)
Year
Ending 31/12/07:
Total Sales KD
3,650,000
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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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
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.45.94 |
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UK Pound |
1 |
Rs.82.84 |
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Euro |
1 |
Rs.65.95 |
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%)