MIRA INFORM REPORT

 

 

Report Date :

20.07.2011

 

IDENTIFICATION DETAILS

 

Name :

TOP N F GENERAL TRADING & CONTRACTING CO.

 

 

Registered Office :

Al Bassam Complex, No. 12, Ibn Khaldoun Street, Hawally

 

 

Country :

Kuwait

 

 

Date of Incorporation :

12.11.2006

 

 

Com. Reg. No.:

101082

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

IT solution division 

 

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 5,000

 

 

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, 2010

 

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

 

Top N F General Trading & Contracting Co. (Correct)

 

TOP NF GENERAL TRADING & CONT. CO (Requested)

 

 

Company ADDRESS

 

Building             : Al Bassam Complex, No. 12

 

Street               : Ibn Khaldoun Street

 

Area                 : Hawally

 

Town                 : Hawally

Country             : Kuwait

 

Telephone         : (965) 5520 2430 (Mobile) (Kamal Kumar)

Fax                   : (965) 2261 9907

E-Mail               : info.topnf@gmail.com

 

Also Known As : Top N F Gen. Trad. & Cont. Co

 

 

SENIOR COMPANY PERSONNEL

 

Name                            Position

 

Kamal Kumar                General Manager

 

Total Employees            : 4

 

 

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 5,000 (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 series of transactions provided the total indebtedness is strictly monitored.

 

 

PRINCIPAL BANKERS

 

NAME               : NATIONAL BANK OF KUWAIT SAK (NBK)

 

Branch              : Abdullah Al Salem Street

PO Box             : 95

Town                 : Safat 13001

 

Telephone         : (965) 2242 2011

Fax                   : (965) 2246 4156

 

The company also has an account with :

 

Burgan Bank Sak

Ahmed Al Jaber Street

PO Box 5389

Safat 13054

Telephone         : (965) 2243 9000

Fax                   : (965) 2246 1148

 

 

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.

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started : 12 November 2006

 

History : The subject company was established in Kuwait on 12 November 2006 as a Limited Liability Company with the following sole shareholder: Mrs Nadia Ghalib Eid (Kuwaiti national). Later Mrs Nadia Ghalib Eid sold the subject company to her sister Mrs Montaha Ghalib Eid and subject's shareholding structure changed to the present.

 

C.R. No. : 101082

 

KCCI Membership No.: 104877 (expired, to be renewed)

 

Authorised Capital : KD 50,000

 

Paid-Up Capital : KD 50,000

  

Limited Liability Company with the following sole shareholder :
 

                                                                        Percentage

 

Montaha Ghalib Eid (Mrs)                                               100%

(Kuwaiti national)

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Subject is operating through the following divisions:

 

- IT solution division 

- Electro-mechanic contracting division

- Fabrics division

 

NACE Code : 6209 / 6399

 

Imports from China and UAE (Dubai).

 

Subject only sells locally and does not engage in re-export business.

 

 

FACILITIES

 

The Company has the following facilities :

 

Rented administrative offices located at the heading address as well as storage facilities located elsewhere in Hawally and other large storage facilities located elsewhere in Aardia Area.

 

 

SPECIAL NOTE

 

You enquired on: TOP NF GENERAL TRADING & CONT. CO. Please note that the correct name is as per heading.  

 

The address given by you: Tbnkhaldhun Street is misspelt. Please note that the correct spelling is as per heading.

 

Interviewed: Kamal Kumar (General Manager).

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.59

UK Pound

1

Rs.71.62

Euro

1

Rs.62.78

 

 

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.