MIRA INFORM REPORT

 

 

Report Date :

12.08.2011

 

IDENTIFICATION DETAILS

 

Name :

AL GHANNAM & NAIR GENERAL TRADING & CONTRACTING CO WLL

 

 

Registered Office :

Al Mawash Tower, 9th Floor Al Hilali Street PO Box 25249 Safat 13113

 

 

Country :

Kuwait

 

 

Date of Incorporation :

22.02.1998

 

 

Com. Reg. No.:

72436, Safat

 

 

Legal Form :

With Limited Liability - WLL

 

 

Line of Business :

General construction contractors and distributors of building materials.

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Licence Expired

 

 

Payment Behaviour :

--

 

 

Litigation :

--

 

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

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

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                                     : AL GHANNAM & NAIR GENERAL TRADING & CONTRACTING CO WLL

Country of Origin                                    : Kuwait

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 22nd February 1998

Commercial Registration Number            : 72436, Safat

Chamber Membership Number                : 55231

Issued Capital                                        : KD 100,000

Paid up Capital                                      : KD 100,000

Total Workforce                                     : 40

Activities                                               : General construction contractors and distributors of building materials.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

 

COMPANY NAME

 

AL GHANNAM & NAIR GENERAL TRADING & CONTRACTING CO WLL

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Al Mawash Tower, 9th Floor

Street               : Al Hilali Street

 

PO Box             : 25249

 

Town                 : Safat 13113

Country             : Kuwait

 

Telephone         : (965) 22423716 / 22421358 / 22460943 / 22421357

Facsimile          : (965) 22423717

Mobile               : (965) 99621574

Email                : gopalnair@q8isp.net

 

 

KEY PRINCIPALS

 

     Name                                                           Nationality                     Position

 

·       Jassem Mohamed Hamoud Al Ghannam           Kuwaiti                        Managing Director

 

·       Fathiya Mohamed Hamoud Al Ghannam           Kuwaiti                        Director

 

·       Kreshna B. Nair                                               Indian                         Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 22nd February 1998

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 72436, Safat

 

Trade Licence No.       : 132/98 (Expired 05/09/2009)

 

Chamber Member No. : 55231

 

Issued Capital              : KD 100,000

 

Paid up Capital            : KD 100,000

 

Name of Shareholder (s)

 

·       Jassem Mohamed Hamoud Al Ghannam

 

·       Fathiya Mohamed Hamoud Al Ghannam

 

·       Kreshna B Nair

 

 

OPERATIONS

 

Activities: Engaged as general construction contractors and distributors of building materials.

 

Subject has a workforce of 40 employees.

 

 

FINANCIAL DATA

 

Companies registered in Kuwait are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       National Bank of Kuwait SAK

Ali Awadi Tower

Ahmed Al Jaber Street

PO Box: 95

Safat 13001

Tel: (965) 23981188 / 23981189

     Fax: (965) 23985643

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

 

GENERAL COMMENTS

 

Bearing in mind that the subject’s trade licence number expired on 5th September 2009 and has not been renewed we suggest that any dealings with the subject be on fully secured terms. Furthermore, we were unable to make direct contact with the subject.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.27

UK Pound

1

Rs.73.34

Euro

1

Rs.64.58

 

 

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

--

NB

                                       New Business

 

--

 

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.