MIRA
INFORM REPORT
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Report Date : |
11.08.2011 |
IDENTIFICATION DETAILS
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Name : |
MAWARED AL KHALEEJ FOR MEAT MANUFACTURING CO WLL |
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Formerly Known As : |
GULF RESOURCES MEAT FACTORY |
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Registered Office : |
Sabhan Industrial Area, Block 7, Plot No. 66, Street No. 101, Al Rai
PO Box 2437, Safat 39505, Nuzha Safat 13035 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
09.12.1995 |
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Com. Reg. No.: |
93704 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Production of meat products. |
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$ 150,000 |
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Status : |
Satisfactory |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Kuwait |
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 |
SUMMARY
Company Name : MAWARED AL KHALEEJ FOR MEAT MANUFACTURING CO WLL
Also Known As : GULF RESOURCES MEAT FACTORY
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 9th December 1995
Commercial Registration Number : 93704
Trade Licence Number : 11462
Chamber Membership Number : 48115
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
Total Workforce : 62
Activities : Production of meat products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Dr Yahiya Sharafaldeen, Finance Manager
COMPANY NAME
MAWARED AL KHALEEJ FOR MEAT MANUFACTURING CO
WLL
ALSO KNOWN AS: GULF RESOURCES
MEAT FACTORY
ADDRESS
Registered & Physical Address
Location : Sabhan
Industrial Area, Block 7, Plot No. 66, Street No. 101, Al Rai
PO Box : 2437, Safat
39505, Nuzha
Town : Safat 13035
Country : Kuwait
Telephone : (965) 24716908
/ 24716918
Facsimile : (965) 24716918
/ 24745291
Mobile : (965) 99825523
Email :
yahiasharafaldeen@hotmail.com
Premises
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of Safat.
KEY PRINCIPALS
Name Position
· Ahmed N Abdulrahman Managing
Director
· Ahmed Walid Abdulrahman Director
· Walid Ahmed Netematallah General
Manager
· Maher Al Sayed Salem Commercial
Manager
· Dr Yahiya Sharafaldeen Finance
Manager
· Dr Atif Salamah Production
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 9th
December 1995
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 93704
Trade Licence No. : 11462
Chamber Member No. : 48115
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
Name of Shareholder (s)
· Ahmed N Abdulrahman
· Ahmed Walid Abdulrahman
OPERATIONS
Activities: Engaged in the production of meat products,
including hamburgers, mortadella and sausages.
Production Capacity: 1,000 tonnes per year.
Import Countries: India and Brazil
Brand Names: AL MAWARED
Operating Trend: Steady
Subject has a workforce of 62 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
2,700,000 KD
3,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Kuwait Finance House (KFH)
Safat Square
Abdullah Al Mubarak Street
PO Box: 24989
Safat 13110
Tel: (965) 22445050
Fax: (965) 22455135
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.20 |
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1 |
Rs.73.51 |
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Euro |
1 |
Rs.64.76 |
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 |
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-- |
NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.