MIRA INFORM REPORT
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Report Date : |
18.02.2011 |
IDENTIFICATION DETAILS
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Name : |
AL ROUDAN STAR GENERAL TRADING CO WLL |
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Registered Office : |
Al Zammami Complex, Office No. 7, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
11.03.2007 |
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Com. Reg. No.: |
119294 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Wholesale and retail of
readymade garments |
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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 : AL ROUDAN STAR GENERAL TRADING CO
WLL
Country of Origin :
Legal Form :
With Limited Liability - WLL
Registration Date :
11th March 2007
Commercial Registration Number : 119294
Trade Licence Number :
900/2007
Chamber Membership Number :
107175
Issued Capital :
KD 250,000
Paid up Capital :
KD 250,000
Total Workforce :
15
Activities :
Wholesale and retail of readymade garments
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Recommended Credit Limit :
US$ 150,000
Person Interviewed :
Basheer Majali Mubarak,
Managing Director
COMPANY NAME
AL ROUDAN STAR GENERAL TRADING CO WLL
company ADDRESS
Registered & Physical Address
Building : Al Zammami
Complex, Office No. 7
Street :
Town : Hawalli
Country :
Telephone : (965) 25651052 / 22646390
Facsimile : (965) 25651052
Email : alroudanstar@hotmail.com
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Hawalli.
KEY PRINCIPALS
Name Nationality Position
· Basheer Majali Mubarak Syrian Managing
Director
· Tariq Naser Al Roudan Kuwaiti Director
LEGAL FORM & OWNERS
Date of
Establishment : 11th
March 2007
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 119294
Trade Licence No. : 900/2007
Chamber Member No. : 107175
Issued Capital : KD 250,000
Paid up Capital : KD 250,000
Name of Shareholder (s)
· Basheer Majali Mubarak
· Tariq Naser Al Roudan
OPERATIONS
Activities: Engaged in the wholesale and retail of readymade garments, specialising
in ladies and children’s
nightwear and pyjamas.
Subject are sole agents for Chola Impex,
who are manufacturers of garments and are based in Tripur,
Import Countries:
Brand Names: BM & MUSH MUSH
Subject has a workforce of 15 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
970,000 KD
1,200,000
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
Hawalli
Tel: (965) 22653303 / 22645964
Fax:
(965) 22611366
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Al Roudan Star General Trading Co WLL is a
relatively new business with operations commencing in March 2007. It is engaged
in the wholesale and retail of readymade garments.
According to local sources subject is making steady progress
in the local business market and nothing detrimental has been reported
regarding the manner in which payments are fulfilled. As such the company is
considered to be a fair trade risk and the above credit figure is deemed
admissible.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.38 |
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1 |
Rs.73.08 |
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Euro |
1 |
Rs.61.60 |
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 |
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.