MIRA
INFORM REPORT
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Report Date : |
08.12.2011 |
IDENTIFICATION DETAILS
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Name : |
CITY CENTRE COMMERCIAL CO KSCC |
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Registered Office : |
Pepsi Cola Street Shuwaikh Industrial Area PO Box 28109 & 63 Safat
13142 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
04.04.1998 |
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Com. Reg. No.: |
72455 |
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Legal Form : |
Kuwaiti Shareholding Closed Company - KSCC |
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Line of Business : |
Operators of a hypermarket. |
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No. of Employees : |
150 |
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$ 1,500,000 |
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Status : |
Good |
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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 30, 2011
|
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 CENTRE COMMERCIAL CO KSCC
Country of Origin : Kuwait
Legal Form : Kuwaiti Shareholding Closed Company - KSCC
Registration Date : 4th April 1998
Commercial Registration Number : 72455
Trade Licence Number : 1536/2006
Chamber Membership Number : 55557
Issued Capital : KD 4,500,000
Paid up Capital : KD 4,500,000
Total Workforce : 150
Activities : Operators of a hypermarket.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 1,500,000
Person Interviewed : Sandish Menon, Finance Manager
COMPANY NAME
CITY CENTRE COMMERCIAL CO KSCC
ADDRESS
Registered & Physical Address
Street : Pepsi Cola
Street
Area : Shuwaikh
Industrial Area
PO Box : 28109 & 63
Town : Safat 13142
Country : Kuwait
Telephone : (965) 1805222
Facsimile : (965) 24813530
Email : acct2@citycentre.com.kw / acct1@citycentre.com.kw / rahul@citycentre.com.kw
Premises
Subject operates from a suite of offices and a hypermarket covering
10,000 square metres that are owned and located in the Industrial Area of
Safat.
Branch Office (s)
Location Description
· Salimya Souq Office
premises
Tel: (965) 25712250
Fax: (965) 25712260
KEY PRINCIPALS
Name Position
· Adel Yacoub Al Ghanem Chairman
· Jassim Yacoub Al Ghanem Vice
Chairman
· Kholoud Yacoub Al Ghanem Director
· Marzouk Adel Al Ghanem Director
· Faisal Yousef Al Qattam Director
· David Wales Operations
Manager
· Sandish Menon Finance
Manager
· Rahul Maheshari Marketing
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 4th
April 1998
Legal Form : Kuwaiti
Shareholding Closed Company - KSCC
Commercial Reg.
No. : 72455
Trade Licence No. : 1536/2006
Chamber Member No. : 55557
Issued Capital : KD 4,500,000
Paid up Capital : KD 4,500,000
Name of Shareholder (s)
· Adel Yacoub Al Ghanem
· Jassim Yacoub Al Ghanem
· Kholoud Yacoub Al Ghanem
· Marzouk Adel Al Ghanem
· Faisal Yousef Al Qattam
AFFILIATED COMPANIES
· City Centre United WLL
Safat
OPERATIONS
Activities: Engaged as operators of a hypermarket.
City Centre is one of Kuwait’s largest hypermarkets.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of approximately 150 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
31,600,000 KD
35,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Sandish Menon,
Finance Manager
BANKERS
·
Burgan Bank
PO Box: 5875
Safat 13054
Tel: (965)
22410818
Fax: (965)
22410819
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.51.45 |
|
|
1 |
Rs.80.38 |
|
Euro |
1 |
Rs.69.12 |
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 |
-- |
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.