MIRA
INFORM REPORT
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Report Date : |
19.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
EASTERN ENGINEERING GENERAL TRADING & CONTRACTING |
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Registered Office : |
Eastern
Engineering Building, Pepsi Cola Street, Al Sharq,
PO Box 22565, Safat 13086 |
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Country : |
Kuwait |
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Date of Incorporation : |
28.07.1997 |
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Com. Reg. No.: |
110446 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Import and Distribution of General Merchandise and
Engineering Equipment |
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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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : EASTERN ENGINEERING GENERAL TRADING & CONTRACTING
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 28th July 1997
Commercial Registration Number : 110446
Trade Licence Number : 5347/2005
Chamber Membership Number : 53656
Issued Capital : KD 1,000,000
Paid up Capital : KD 1,000,000
Activities : Subject was engaged in the import and distribution of general merchandise and engineering equipment
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
EASTERN ENGINEERING
GENERAL TRADING & CONTRACTING
ADDRESS
Registered & Physical Address
Building : Eastern Engineering Building
Street : Pepsi Cola Street
Area : Al
Sharq
PO Box : 22565
Town : Safat 13086
Country : Kuwait
Telephone : (965) 4832329 / 4832787 / 2414705
Facsimile : (965) 4832343 / 2414705
Email : aljiran@easterneng.com
KEY PRINCIPALS
Name Position
·
Mohamed
Abdullah Al Jirani Managing
Director
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Ghanima
Ali Al Qattan Director
LEGAL FORM & OWNERS
Date of Establishment : 28th
July 1997
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 110446
Trade Licence No. : 5347/2005
Chamber Member No. : 53656
Issued Capital : KD 1,000,000
Paid up Capital : KD 1,000,000
Name of Shareholder (s)
·
Mohamed
Abdullah Al Jirani
·
Ghanima
Ali Al Qattan
OPERATIONS
Activities: Subject was engaged in the import and
distribution of general merchandise and engineering equipment.
FINANCIAL DATA
No financial
information was released by the company or submitted by outside sources.
BANKERS
Not available
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Local sources
report that Eastern Engineering General Trading & Contracting was
registered in 1997, however it has not renewed its membership with the Kuwait
Chamber of Commerce since 1st January 2007. When contacted the
chamber stated that the subject is listed as inactive and we have listed all
the registered information that they contain on the company.
Our sources have
tried to make contact with the subject directly however their telephone and
facsimile numbers have a message that says they are temporarily out of order.
We have also sent an email to the subject but have had no reply as yet.
In view of the
above comments we believe that the subject has ceased trading however we were
not able to confirm this with the subject directly.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.71 |
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UK Pound |
1 |
Rs.83.57 |
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Euro |
1 |
Rs.65.90 |
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%)