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MIRA INFORM REPORT

 

 

Report Date :            

12.04.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

SAUD AL AUJAN & BROS CO WLL

 

 

Registered Office :

Plot No. 2, Block 259, Al Aradiya Area, P O Box 29, Town, Safat 13001

 

 

Country :

Kuwait

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

11.01.1960

 

 

Com. Reg. No.:

25854

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Import and distribution of general foodstuff, confectionery items, soft drinks and cigarettes

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 1,000,000

Status :

Satisfactory

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)

Kuwait

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                    : SAUD AL AUJAN & BROS CO WLL

Country of Origin                                   : Kuwait

Legal Form                                           : With Limited Liability - WLL

Registration Date                                  : 11th January 1960

Commercial Registration Number           : 25854

Trade Licence Number                           : 2132/77

Chamber Membership Number               : 145

Issued Capital                                       : KD 100,000

Paid up Capital                                     : KD 100,000

Total Workforce                                     : 130

Activities                                               : Import and distribution of general foodstuff, confectionery items, soft

drinks and cigarettes

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Recommended Credit Limit                    : US$ 1,000,000

 

 

 

COMPANY NAME

 

SAUD AL AUJAN & BROS CO WLL

 

 

company ADDRESS

 

Registered & Physical Address

Location           : Plot No. 2, Block 259, Al Aradiya Area

PO Box                        : 29

Town                : Safat 13001

Country : Kuwait

Telephone         : (965) 24336131 / 24337080

Facsimile          : (965) 24348070

Email                : aujan-kwt@aujan.com / tareq.awad@aujan.com.kw

 

Premises

Subject operates from a medium sized suite of offices and a warehouse that are owned and located in the Industrial Area of Safat.

 

 

KEY PRINCIPALS

 

     Name                                                                       Nationality                    Position

 

·       Farid Saud Al Aujan                                                    Kuwaiti                        Managing Director

 

·       Faisal Saud Al Aujan                                                   Kuwaiti                        Director

 

·       Adel Abdulrahman Abdullatif Al Aujan                           Saudi                         Director

 

·       Adnan Abdulrahman Abdullatif Al Aujan                        Saudi                         Director

 

·       Ms Farida Abdulwahab Al Aujan                                   Saudi                         Director

 

·       Ms Safiyah Nasser Al Ahmed                                      Kuwaiti                        Director

 

·       Saud Farid Saud Al Aujan                                                -                            General Manager

 

·       Tareq Awad                                                                     -                            Commercial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 11th January 1960

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.   : 25854

 

Trade Licence No.        : 2132/77 (Expires 30/09/2011)

 

Chamber Member No.  : 145

 

Issued Capital              : KD 100,000

 

Paid up Capital            : KD 100,000

 

Name of Shareholder (s)

 

·       Farid Saud Al Aujan

 

·       Faisal Saud Al Aujan

 

·       Adel Abdulrahman Abdullatif Al Aujan

 

·       Adnan Abdulrahman Abdullatif Al Aujan

 

·       Ms Farida Abdulwahab Al Aujan

 

·       Ms Safiyah Nasser Al Ahmed

 

 

AFFILIATED COMPANIES

 

·       Al Aujan Refreshments Co WLL

     Kuwait

 

·       Al Aujan Projects Co PC

     Kuwait

 

·       Rani Investment Co LLC

PO Box: 102743

Dubai

United Arab Emirates

Tel: (971-4) 3956166

Fax: (971-4) 3956177

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of general foodstuff, confectionery items, soft drinks and cigarettes.

 

Import Countries: Saudi Arabia, France and India

 

International Suppliers:

 

·       Vimto Fruit Drinks                 Saudi Arabia

·       Rani Fruit Drinks                   Saudi Arabia

·       Nafees Corn Oil                    Saudi Arabia

·       Gitanes Cigarettes                France

·       Gauloise Cigarettes              France

·       Mohaideb Rice                     India

 

Operating Trend: Steady

 

Subject has a workforce of 130 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Kuwaiti Dinars (KD)

 

                                                Year Ending 31/12/09:               Year Ending 31/12/10:

 

Total Sales                                KD 8,000,000                            KD 8,765,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       National Bank of Kuwait

Ali Awadi Tower

Ahmed Al Jaber Street

PO Box: 95

Safat 13001

Tel: (965) 23981188 / 23981189

Fax: (965) 23985643

 

·       Commercial Bank of Kuwait

     Mubarak Al Kabir Street

     PO Box: 2861

     Safat 13029

     Tel: (965) 22411001

     Fax: (965) 22450150

 

 

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.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.22

UK Pound

1

Rs.72.26

Euro

1

Rs.63.90

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.