MIRA INFORM
REPORT
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Report Date : |
21.06.2011 |
IDENTIFICATION DETAILS
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Name : |
AL KANAWER INTERNATIONAL FOR TRADING &
CONTRACTING CO WLL |
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Registered Office : |
Hamam Tower, Office
No. 7, Commercial Area No. 9, P O Box 117, Al Fantaz, Safat |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
28.06.1998 |
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Com. Reg. No.: |
73438 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Distributors of general merchandise, specialising in batteries |
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
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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 |
Bottom of Form
SUMMARY
Company Name : AL KANAWER INTERNATIONAL FOR TRADING & CONTRACTING
CO WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 28th June 1998
Commercial Registration Number : 73438
Trade Licence Number : 507/98
Chamber Membership Number : 56299
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Total Workforce : 16
Activities : Distributors of general merchandise, specialising in batteries.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Mohamed Al Khalf, Sales Manager
COMPANY NAME
AL KANAWER
INTERNATIONAL FOR TRADING & CONTRACTING CO WLL
company ADDRESS
Registered & Physical Address
Building : Hamam Tower, Office No. 7
Area : Commercial Area No. 9
PO Box : 117, Al Fantaz
Town : Safat
Country : Kuwait
Telephone : (965) 22439292 / 23848484 / 23962567
Facsimile : (965) 23848483
Mobile : (965) 99568034
Email : info@alkanawer-kw.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Safat.
KEY PRINCIPALS
Name Position
·
Misre Misre Salim Fahd Managing
Director
·
Omar Misre Al Ajmi Director
·
Mohamed Al Khalf Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 28th
June 1998
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 73438
Trade Licence No. : 507/98
Chamber Member No. : 56299
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Name of Shareholder
(s)
·
Misre Misre Salim Fahd
·
Omar Misre Al Ajmi
OPERATIONS
Activities: Engaged in the import and distribution of general
merchandise, specialising in batteries.
Import
Countries: Europe and the
Far East.
Brand Names: ROBUST
Operating Trend: Steady
Subject has a
workforce of 16 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 925,000 KD 1,080,000
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 Kuwait SAK
Mubarak Al Kabir Street
PO Box: 2861
Safat 13029
Tel: (965) 22411001
Fax: (965) 22450150
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.99 |
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UK Pound |
1 |
Rs.72.60 |
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Euro |
1 |
Rs.64.01 |
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 |
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NB |
New Business |
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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.