MIRA
INFORM REPORT
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Report Date : |
20.01.2011 |
IDENTIFICATION DETAILS
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Name : |
AL KANDARY
JEWELLERY |
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Registered Office : |
Central Gold and Jewellery Market, Shop 88 Al Mubarakiya Area |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Year of Establishment : |
1963 |
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Com. Reg. No.: |
1575 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Wholesale and
retail of jewellery and gold |
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
|
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 KANDARY JEWELLERY
Country of Origin :
Legal Form :
Sole Proprietorship
Start Date :
1963
Registration Date : 5th
October 1988
Commercial
Registration Number : 1575
Trade Licence Number : 7616/1992
Membership Number : 20090
Invested Capital : KD 50,000
Total Workforce : 8
Activities :
Wholesale and retail of jewellery and gold
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Yousef
Yacoub, Commercial Manager
COMPANY NAME
AL KANDARY JEWELLERY
ADDRESS
Registered & Physical Address
Location : Central Gold
and Jewellery Market, Shop 88
Area : Al Mubarakiya Area
PO Box : 765 & 274
Town : Safat 15453
Country :
Telephone : (965) 22433433
/ 22408150
Facsimile : (965) 22413180
Email : zareh00@yahoo.com
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Safat.
Branch Offices
Location Description
· Thanyaan Al Ghanem Building Rented
showroom premises
Al Salehya Area
Tel: (965) 22429523
KEY PRINCIPALS
Name Position
· Ahmed Mohamed
Ahmed Al Kandary General
Manager
· Yousef Yacoub Sales
Manager
· Zareh Yacoub Commercial
Manager
LEGAL FORM & OWNERS
Date of
Establishment : Subject’s operations
date back to 1963, however it was registered on 5th October 1988
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 1575
Trade Licence No. : 7616/1992
Membership No. : 20090
Invested Capital : KD 50,000
The heirs of the late Mohamed Ahmed Al Kandary have temporary control of
the company.
OPERATIONS
Activities: Engaged in the wholesale and retail of jewellery and gold.
Import Countries:
Operating Trend: Steady
Subject has a workforce of 8 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Kuwaiti Dinars (KD)
Year
Ending 31/12/08: Year
Ending 31/12/09:
Total Sales KD
2,910,000 KD
3,180,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Bank of
Darwaza Abdul Razzak
PO Box: 71
Safat 13001
Tel: (965) 22459771
Fax: (965) 22461430
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 and
the above credit figure is within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.38 |
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|
1 |
Rs.72.71 |
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Euro |
1 |
Rs.61.15 |
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 |
|
<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.