MIRA INFORM
REPORT
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Report Date : |
15.06.2011 |
IDENTIFICATION DETAILS
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Name : |
HUSAIN FOODSTUFF STORE CO WLL |
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Registered Office : |
Abdulaziz
Khamis Building, Mezzanine Floor, Khalid Ibn Al Walid Street, Al Sharq, P O Box 24623, Safat 13107 |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
22.08.1977 |
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Com. Reg. No.: |
121050 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Wholesalers and retailers of general foodstuff products, herbs and spices |
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Kuwait |
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 : HUSAIN FOODSTUFF STORE CO WLL
Country of Origin :
Legal Form : With Limited Liability - WLL
Registration Date : 22nd August 1977
Commercial Registration Number : 121050
Trade Licence Number : 238/77
Chamber Membership Number : 6400
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
Total Workforce : 18
Activities : Wholesalers and retailers of general foodstuff products, herbs and
spices.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY
NAME
HUSAIN FOODSTUFF
STORE CO WLL
company ADDRESS
Registered & Physical Address
Building :
Street :
Area : Al Sharq
PO Box : 24623
Town : Safat 13107
Country :
Telephone : (965) 22416086 / 22461647 / 22416504 / 22462374
/ 24917878
Facsimile : (965) 22416086 / 24914545
Email : husainfood@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.
KEY PRINCIPALS
Name Position
·
Abbas
Mirza Nasarullah Al Atram Managing
Director
·
Mohamed
Abbas Mirza Nasarullah Al Atram Director
·
Ali
Abbas Mirza Nasarullah Al Atram Director
·
Lila
Sultan Hussain Director
·
Hassan
Arizoni Commercial
Manager
·
Momin
Badato Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 22nd
August 1977
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 121050
Trade Licence No. : 238/77
Chamber Member No. : 6400
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
Name of Shareholder (s)
·
Abbas
Mirza Nasarullah Al Atram
·
Mohamed
Abbas Mirza Nasarullah Al Atram
·
Ali
Abbas Mirza Nasarullah Al Atram
·
Lila
Sultan Hussain
AFFILIATED COMPANIES
·
Yasmine
Al Kuwait Co
Safat
·
Howra
Al Kuwait
Safat
OPERATIONS
Activities: Engaged in the wholesale and retail of
general foodstuff products, herbs, spices, nuts, grains, rice and
beans.
Import
Countries:
Operating Trend: Steady
Subject has a
workforce of 18 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 2,400,000 KD 2,950,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Commercial
Bank of
PO Box: 2861
Safat 13029
Tel: (965) 22411001
Fax: (965) 22450150
Acc
No. 0501018847
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Please note that PO
Box number 26323 is not known by the subject. It is used by the following
companies “Farghali Restaurant" and "Yousuf & Sulaiman Al Sahli General
Trading and Contracting Co"
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk and
the above credit figure is considered to be within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.77 |
|
|
1 |
Rs.73.45 |
|
Euro |
1 |
Rs.64.55 |
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 |
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<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.