MIRA INFORM REPORT

 

 

Report Date :           

04.07.2011

 

IDENTIFICATION DETAILS

 

Name :

BOUSHAHRI AND AZIZI GENERAL TRADING AND CONTRACTING CO WLL 

 

 

Registered Office :

Building No. 1410, 3rd Floor, Office No. 15, Shuhada Street, Al Sharq, P.O.Box No. 26875 Safat 13129, Kuwait City

 

 

Country :

Kuwait

 

 

Date of Incorporation :

08.09.1998

 

 

Com. Reg. No.:

74317

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Importers, Wholesalers and Retailers of auto spare parts

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

KD 10,000

Status :

Small Company 

Payment Behaviour :

No Complaints

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Kuwait

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

company NAME

 

Boushahri And Azizi General Trading And Contracting Co WLL  (Correct)

BOUSHARI & AZIZI GENERAL TRADING & CONTRACTING CO   (Requested)

 

 

company ADDRESS

 

Building              : Building No. 1410, 3rd Floor, Office No. 15

Street               : Shuhada Street

Area                 : Al Sharq

P.O.Box No.      : 26875 Safat 13129

Town                 : Kuwait City

Country              : Kuwait

 

Telephone  : (965) 2240 8782 / (Mobiles) (965) 9980 3747 (Mohammed

Reda Gholam Hussein Aziz) / (965) 9946 4186 (Mr. Basheer)

Fax        : (965) 2240 8783

E-Mail     : mrazizi186@yahoo.com

 

Also Known As : Boushahri & Azizi Gen. Trad. & Cont. Co.

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                       Position

 

1. Mohammed Reda Gholam Hussein Azizi   Managing Director

 

2. Basheer                              Sales Representative

 

Total Employees : 5

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers

or banks.

 

We consider it is acceptable to deal with subject for SMALL amounts, however in view of the lack of financial information we recommend international suppliers exercise a degree of caution.

 

Opinion on maximum credit : KD 10,000 (higher amounts may be

                                    considered with full fiscal disclosure)

 

Trade risk assessment : Normal

 

Opinion on the credit figure of US DLRS 150,000 :

 

The above figure is higher than normally seen in one amount, however could prove admissible in a short series of transactions provided the total indebtedness is strictly monitored.

 

 

PRINCIPAL BANKERS

 

NAME     : KUWAIT FINANCE HOUSE (KFH)

Branch   : Main branch

PO Box   : 24989

Town     : Safat 13110

Telephone: (965) 2244 5050

Fax      : (965) 2245 5136

 

Subject also has an account with Ahli United Bank.

 

 

FINANCIAL INFORMATION

 

Private companies in Kuwait are not required to publish or disclose balance sheets. Balance sheets are not available from other sources, and the subject interviewed declined to give any financial information, which the company regards as strictly confidential.

 

The following financial information is the latest available on the subject in our file :

 

Sales Turnover      : KD 300,000 - 2005 - approx

               

Net Profit               : not given

 

LEGAL STATUS AND HISTORY

 

Date Started : 8 September 1998

 

C.R. No. : 74317

 

KCCI Membership No : 56833 (expiry date: 06/06/2012)

 

Authorised Capital : KD 60,000

 

Paid-Up Capital : KD 60,000

 

Limited Liability Company with the following shareholders :

 

1. Mohammed Reda Gholam Hussein Azizi  

   (Iranian national)

 

2. Ahmad Hashem Mohammed Al Khalaf *

   (Kuwait national)

 

The exact shareholding percentage was not disclosed.

 

* The local sponsor, according to Kuwaiti laws must hold a minimum of

51% of the capital, however, in practice and unofficially the partner

gets a fixed annual percentage of the profit and a sponsorship fee

without any investment in the company.

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Trading as importers, wholesalers and retailers of auto spare parts.

 

NACE Code : 4532

 

Imports from Europe and the Far East.

 

Exports to Iran.

 

 

FACILITIES

 

The Company has the following facilities :

 

Rented office premises and storage facilities located at the heading address.

 

 

SPECIAL NOTE

 

You enquired on: BOUSHARI & AZIZI GENERAL TRADING & CONTRACTING CO . Please note that the correct name is as per heading.  

 

Interviewed: Mohammed Reda Gholam Hussein Azizi (Managing Director).

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.59

UK Pound

1

Rs.71.75

Euro

1

Rs.64.80

 

 

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

----

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.