MIRA INFORM REPORT
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Report Date : |
06.12.2011 |
IDENTIFICATION DETAILS
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Name : |
CITY SNOOTY GENERAL TRADING CO WLL |
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Registered Office : |
London Hospital
Road, Plot No. 1, Aqaila Area, P O Box 644, Fintas 51007 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
01.11.2003 |
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Com. Reg. No.: |
96550 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Wholesalers and retailers of footwear |
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No. of Employees
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30 Persons |
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$ 100,000 |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 : CITY SNOOTY GENERAL TRADING CO WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 1st November 2003
Commercial Registration Number : 96550
Trade Licence Number : 2781/2003
Chamber Membership Number : 84983
Issued Capital : KD 50,000
Paid up Capital : KD 50,000
Total Workforce : 30
Activities : Wholesalers and retailers of footwear.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
COMPANY NAME
CITY SNOOTY GENERAL TRADING CO WLL
company ADDRESS
Registered &
Physical Address
Location : London Hospital Road, Plot No. 1,
Aqaila Area
PO Box : 644
Town : Fintas 51007
Country : Kuwait
Telephone : (965) 23901623 / 22473257 / 224336740 / 224336739
Facsimile : (965) 22473257 / 23836936
Email : info@habangroup.com / citysnooty@hotmail.com
Premises
Subject operates
from a medium sized suite of offices and a showroom that are rented and located
in the Central Business Area of Fintas.
Branch Office (s)
Location Description
·
Co
Operative Centre Showroom
premises
Fintas
Tel: (965) 23901496
·
City
Complex Showroom
premises
Shuwaikh
Tel: (965) 1805222
KEY PRINCIPALS
Name Nationality Position
·
Altaf
Mohamed Choudary Canadian Managing Director
·
Saleh
Fakhiri Ali Al Rashidi Kuwaiti Director
·
Ms
Fatima Ali Al Rashidi Kuwaiti Director
·
Sayed
Gafoor - Marketing
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st
November 2003
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 96550
Trade Licence No. :
2781/2003
Chamber Member No. : 84983
Issued Capital : KD 50,000
Paid up Capital : KD 50,000
Name of Shareholder
(s) Percentage
·
Saleh
Fakhiri Ali Al Rashidi 51%
·
Altaf
Mohamed Choudary 49%
OPERATIONS
Activities: Engaged in the wholesale and retail of
footwear.
Import Countries: Europe, India and Canada.
International
Suppliers:
·
Pedwalker Canada
·
Pedcar Canada
·
Bata India
Operating Trend: Steady
Subject has a
workforce of 30 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 1,400,000 KD 1,580,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Gulf
Bank KSC
Mubarak Al Kabir Street
PO Box: 3200
Safat 13033
Tel: (965) 22449501
Fax: (965) 22445212
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 |
|
US Dollar |
1 |
Rs.51.40 |
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UK Pound |
1 |
Rs.80.20 |
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Euro |
1 |
Rs.68.92 |
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.