MIRA INFORM
REPORT
|
Report Date : |
29.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
CONDEX GENERAL TRADING AND CONTRACTING CO
WLL |
|
|
|
|
Formerly Known As : |
Green Cedar Foods
Company WLL |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
04.01.2004 |
|
|
|
|
Com. Reg. No.: |
85604 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
importers and distributors of polyester boards and industrial raw 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 : |
Liquidated |
|
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company NAME
Condex General Trading And Contracting Co
WLL
company ADDRESS
Building :
Area : Western Al Shuaibia Industrial Area,
Block No. 5
P.O.Box No. :
4870
Town : Hawally 32079
Country :
Telephone : (965) 2326 0378 /
Nassef)
Fax : (965) 2326 0380
E-Mail : condexq8@gmail.com
/ condex.kwt@gmail.com /
SENIOR COMPANY PERSONNEL
Name Position
1. Fouzan Saud Al Fouzan Chairman
2. Belal Mohammed Nassef Managing Director
3. Zaher Al Khateib Director
4. Mohamed Omair Chief
Financial Officer
5. Hazem Fathi
Accountant
Total Employees : 40
PAYMENTS
Current trade experience of payments has not been traced.
Subject was established in January 2004 and ceased trading
in 2008 due to the global economic downturn and unfavourable market conditions.
On 25 August 2008, subject was liquidated.
Opinion on maximum credit : As the company no longer
exists, a question of trade credit will not arise.
Trade risk assessment: No classification
Opinion on the credit figure of US DLRS 150,000 :
See above comments.
PRINCIPAL BANKERS
NAME : AL AHLI
BANK OF
Branch :
PO Box : 1387
Town : Safat
13014
Telephone: (965) 2240 0900
Fax : (965) 2242
4557
FINANCIAL INFORMATION
As the company no longer exists, relevant financial
information is
not available.
The
following information is the latest available in our file :
Sales Turnover :
KD 500,000 - 2005 - estimated
Net Profit :
not given
LEGAL STATUS AND HISTORY
Date Started : 4 January 2004
History : The subject company was established in
C.R. No. : 85604
Capital : KD 100,000
Limited Liability
Company with the following shareholders :
Percentage
(Kuwaiti national)
2. Zaher Al Khateib 25%
(Lebanese national)
3. Belal Mohammed Nassef 24%
(Lebanese
national)
Affiliated companies of Condex General Trading and
Contrating Co WLL :
Associates
1. Asnaf Trading
Establishment
Telephone: (965) 483
6885 / 481 4931
2. Fouzan Al Fouzan
Co
3. Kuwait Proteins
Co SAK Closed
No 156, Ardiah
Industrial Area 1, opp.
Safat 13124
Telephone: (965) 2433 1464 / 2431 8290 / 2431 1030 /
2484 6659 /
Mobiles (965)
9904 2582 / 9965 8950
Fax :
(965) 433 6246 / 431 1033 / 484 9572
Formerly Known As :
Green Cedar Foods Company WLL
ACTIVITIES
The Company was involved in the following
activities :
Until August 2008, subject was involved in the following
activities:
Traded as importers and distributors of polyester boards
and
industrial raw materials.
Imported mainly from
Subject did not export, all sales are domestic.
FACILITIES
The Company had the following facilities :
Owned administrative offices and warehousing facilities
located at the heading address.
SPECIAL NOTE
The street name given by you:
The telephone and fax numbers given by you: (965)431
3129, (965) 677 5678 and (965) 433 6246 respectively are incorrect. Please note
that subject’s correct telephone and fax numbers were as per heading.
The E-Mail address given by you: condexc@Yahoo.co,in is
incorrect. Please note that subject’s correct E-Mail address was as per
heading.
Interviewed: Belal Mohammed Nassef (Managing
Director).
Telephone numbers in
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.74 |
|
|
1 |
Rs.72.73 |
|
Euro |
1 |
Rs.62.73 |
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 |
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.