MIRA INFORM
REPORT
|
Report Date : |
11.04.2011 |
|
|
|
IDENTIFICATION DETAILS
|
Name : |
AL FANOON GENERAL TRADING & CONTRACTING
EST. |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
10.01.1990 |
|
|
|
|
Com. Reg. No.: |
98267 |
|
|
|
|
Legal Form : |
Proprietorship
Concern |
|
|
|
|
Line of Business : |
Importers,
Wholesalers and Distributors of a wide range of foodstuff including pickles,
spices, tamarind, snacks, oils, food drinks and rice |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
KD 10,000 |
|
Status : |
Small Company |
|
Payment
Behaviour : |
No Complaints |
|
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
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company NAME
Al Fanoon General Trading & Contracting Est.
(Correct)
AL
FANOON GENERAL TRADING EST (Requested)
Company
ADDRESS
Street :
Area :
Sharq
P.O.Box No. : 24879 Al Salimiyah
Town : Safat 13109
Country :
Telephone :
(965) 2491 3363 / 2564 3855 / (Mobiles) (965) 9942 2305
(Hussein
Akbar Ali Al Shemari)
Fax :
(965) 2482 6980
Also known as : Al
Fanoon General Trading & Contg. Est.
SENIOR
COMPANY PERSONNEL
Name Position
1. Hussein Akbar Ali Al Shemari General Manager
2. Hussein
3. Ali Salem Ali
Al Shemari Commercial
Manager
(husband of Jamila Abdul
Karim Jomaa Al Sairafi)
Total Employees :
22
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 10,000
Trade risk
assessment:
Opinion on the
credit figure of US DLRS 150,000 :
The above figure
is much higher than normally seen in one amount, however could prove admissible
in a series of transactions provided the total indebtedness is strictly
monitored.
PRINCIPAL BANKERS
NAME :
Branch : Main branch
PO Box : 24989
Town : Safat 13110
Telephone: (965)
2244 5050
Fax : (965) 2245 5136
Acc. No. :
10034501
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 400,000 - 2009 - exact
: KD 450,000 - 2010 -
exact
: KD 500,000 - 2011 -
projected
Net Profit : not given but stated to be 5-6%
of the sales
Financial year
ends 31 December.
LEGAL STATUS AND HISTORY
Date Started : 10
January 1990
C.R. No. : 98267
KCCI Membership
No.: 19620 (expiry date: 07/11/2014)
Capital : not
applicable
Proprietorship owned by Jamila Abdul Karim Jomaa Al Sairafi (Mrs) (Kuwaiti national).
ACTIVITIES
The Company is
involved in the following activities :
Trading as
importers, wholesalers and distributors of a wide range of foodstuff including
pickles, spices, tamarind, snacks, oils, food drinks and rice.
Imports from Asia,
mainly from
Subject only sells
locally and does not engage in re-export business.
FACILITIES
The Company has
the following facilities :
Rented
administrative offices and storage facilities located at the heading address.
SPECIAL NOTE
You enquired on:
Al Fanoon General Trading Est. Please note that the correct name is as per
heading.
The commercial
registration number given by you: 10979 is incorrect. Please note that
subject's correct commercial registration number is: 98267.
The telephone and
fax numbers given by you: (965) 488 2928, (965) 245 2160 and (965) 245 2161
respectively are incorrect. Please note that subject's correct telephone and
fax numbers are as per heading.
Interviewed:
Hussein Akbar Ali Al Shemari (General Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.04 |
|
|
1 |
Rs.72.20 |
|
Euro |
1 |
Rs.63.40 |
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 |
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 |
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.