MIRA INFORM REPORT
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Report Date : |
08.04.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
FUTURE AL KAUSAR GENERAL TRADING AND
CONTRACTING |
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Registered Office : |
Souk Al Safat, Mezzanine Floor, Shop No. 4104, P.O.Box No. 5454 Safat 13737, Kuwait City |
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Country : |
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Date of Incorporation : |
27.01.2003 |
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Com. Reg. No.: |
92522 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Freight forwarders via sea, land and air |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
KD 20,000 |
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Status : |
Small Company |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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a2 |
a2 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company
NAME
Future Al
Kausar General Trading And Contracting
Future
Company
ADDRESS
Area : Souk
Al Safat, Mezzanine Floor, Shop No. 4104
P.O.Box No.: 5454 Safat 13737
Town :
Country :
Telephone : (965)
2245 5681 / 2245 5683 / (Mobiles) (965) 9904 2008
(Issa Ahmad Abdullah Al Shatti) / (965) 9791
9697
(Mohammed Ali Abdul Karim)
Fax : (965)
2245 5681
Also Known As :
Mustakbal Al-Kawthar Gen. Trad. & Cont. Co. WLL
SENIOR
COMPANY PERSONNEL
Name Position
1. Issa Ahmad
Abdullah Al Shatti Managing
Director
2. Mohammed Ali
Abdul Karim Marketing
Manager
Total Employees :
5
PAYMENTS
No complaints have
been heard regarding payments from local suppliers or banks.
We consider it is acceptable
to deal with subject for SMALL amounts.
Opinion on maximum
credit : KD 20,000
Trade risk
assessment:
PRINCIPAL BANKERS
NAME :
Branch : Main
branch
PO Box : 24989
Town : Safat
13110
Telephone: (965) 2244 5050
Fax : (965)
2245 5136
The company also
has an account with :
Commercial
Bank Of
Safat
13029
Telephone:
(965) 2241 1001
Fax : (965)
2245 0150
FINANCIAL INFORMATION
Private companies
in
the following
information :
Sales Turnover:
KD 850,000 - 2009 - exact
: KD 1,000,000 - 2010 -
exact
: KD 1,200,000 - 2011 -
projected
Net Profit : KD 90,000 - 2009 - exact
: KD 100,000 - 2010 - exact
: KD 120,000 - 2011 - projected
Financial year ends
31 December.
LEGAL STATUS AND HISTORY
Date Started : 27 January 2003
C.R. No. : 92522
KCCI Membership
No.: 81002 (expiry date: 06/02/2013)
Authorised Capital
: KD 50,000
Paid-Up Capital : KD 50,000
Limited Liability Company with the following shareholders : 1. Issa Ahmad Abdullah Al Shatti (Kuwaiti national) 2. Omaima Issa Ahmad Abdullah Al Shatti (Mrs) (daughter of the above) The exact shareholding percentage
was not disclosed.
ACTIVITIES
The Company is
involved in the following activities :
Freight
forwarders via sea, land and air.
Subject does not
import any products at present.
Exports to
FACILITIES
The Company has
the following facilities :
Rented administrative
offices and storage facilities located at the heading address.
Until 2005 subject
was located at :
Shop No 3138,
Ground Floor, Souk Al Safat
SPECIAL NOTE
You enquired on:
Future Al - Kausar General Trading And Cont.Co. Please note that the correct name is as per heading.
The address given
by you: Shop No 3138, Ground Floor applies to subject’s former address. Please note that subject’s correct administrative office
address is as per heading.
Interviewed: Issa
Ahmad Abdullah Al Shatti (Managing Director).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.22 |
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1 |
Rs.71.97 |
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Euro |
1 |
Rs.63.23 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.