MIRA INFORM REPORT

 

 

Report Date :           

15.06.2011

 

IDENTIFICATION DETAILS

 

Name :

AL ZAHEM AND MALHOTRA GENERAL TRADING AND CONTRACTING  CO WLL

 

 

Registered Office :

Block No. 2, Plot No. 122/123, Street No. 6, Al Ardiya Industrial Estate, P O Box 251, Safat 13003

 

 

Country :

Kuwait

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

25.06.1980

 

 

Com. Reg. No.:

29822, Safat

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Import and distribution of general foodstuff products, household items and consumer goods

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 250,000

 

 

Status :

Satisfactory

 

 

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

 

 Bottom of Form

 

SUMMARY

 

Company Name                                     : AL ZAHEM AND MALHOTRA GENERAL TRADING AND

CONTRACTING CO WLL

Country of Origin                                    : Kuwait

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 25th June 1980

Commercial Registration Number                        : 29822, Safat

Trade Licence Number                            : 4534/80

Chamber Membership Number                : 9640

Issued Capital                                        : KD 3,000,000

Paid up Capital                                      : KD 3,000,000

Total Workforce                                     : 465

Activities                                               : Import and distribution of general foodstuff products, household items

and consumer goods

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 250,000

Person Interviewed                                 : Jazvinder Bajah, Finance Manager

 

 

 

 

COMPANY NAME

 

AL ZAHEM AND MALHOTRA GENERAL TRADING AND CONTRACTING CO WLL

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Block No. 2, Plot No. 122/123

Street               : Street No. 6

Area                 : Al Ardiya Industrial Estate

PO Box             : 251

Town                 : Safat 13003

Country             : Kuwait

Telephone         : (965) 24338305

Facsimile          : (965) 24338350 / 24338360

Mobile               : (965) 1833444 / 1833303

Email                : info@zahem-malhotra.com

 

Premises

Subject operates from a large suite of offices and a warehouse covering an area of 11,000 square metres that are owned and located in the Industrial Area of Safat.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Abdul Mohsin F Al Zahem                                                                  Managing Director

 

·       Bupinder N Malhotra                                                                          Director

 

·       Dharam V Malhotra                                                                           Director

 

·       Faisal A A Al Zahem                                                                         Director

 

·       Fatema F Al Zahem                                                                           Director

 

·       Ghanima F Al Zahem                                                             Director

 

·       Lokaish Dharam V Malhotra                                                               Director

 

·       Mohamed F Al Zahem                                                                       Director

 

·       Neal Kamal Malhotra                                                                         Director

 

·       Sharifa F Al Zahem                                                                            Director

 

·       Jazvinder Bajah                                                                                 Finance Manager

 

·       Kayed Jawahr                                                                                   Foodstuff Manager

 

·       Joy Deep Mojmudar                                                                           Consumer Goods Manager

 

·       Jameel Saychel                                                                                Administration Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 25th June 1980

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 29822, Safat

 

Trade Licence No.       : 4534/80

 

Chamber Member No. : 9640

 

Issued Capital              : KD 3,000,000

 

Paid up Capital            : KD 3,000,000

 

Name of Shareholder (s)

 

·       Abdul Mohsin F Al Zahem

 

·       Bupinder N Malhotra

 

·       Dharam V Malhotra

 

·       Faisal A A Al Zahem

 

·       Fatema F Al Zahem

 

·       Ghanima F Al Zahem

 

·       Lokaish Dharam V Malhotra

 

·       Mohamed F Al Zahem

 

·       Neal Kamal Malhotra

 

·       Sharifa F Al Zahem

 

 

AFFILIATED COMPANIES

 

·       Ogab & Hamood Malik Trading WLL

Safat

     Kuwait

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of general foodstuff products, household items and consumer

goods, including air fresheners, biscuits, cheese, chocolates, cleaning products, personal hygiene products, nuts, powdered milk, rice, spices and tea.

 

Import Countries: Mexico, Europe and the Far East

 

International Suppliers:

 

·       Personna International De Mexico                   Mexico

·       Ajinomoto                                                     Malaysia

·       Berhad Angliss Pty                                       Singapore

 

Operating Trend: Steady

 

Subject has a workforce of approximately 465 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 4,000,000                            KD 4,265,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures were confirmed by Ms Jazvinder Bajah, Finance Manager

 

 

BANKERS

 

·       National Bank of Kuwait SAK

Ali Awadi Tower

Ahmed Al Jaber Street

PO Box: 95

Safat 13001

Tel: (965) 3981188 / 3981189

     Fax: (965) 3985643

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              February 2007

Credit amount                                        150,000

Amount overdue                         0

Payment terms                                      60 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               US Dollars

 

 

GENERAL COMMENTS

 

Established in 1980, subject is involved in the import and distribution of general foodstuff products and household items, including air fresheners, biscuits, cheese, chocolates, cleaning products, personal hygiene products, nuts, powdered milk, rice, spices and tea.

 

Subject is presently the second largest food and consumer products importer and distributor in Kuwait

 

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.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.77

UK Pound

1

Rs.73.45

Euro

1

Rs.64.55

 

 

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.