MIRA INFORM REPORT

 

 

Report Date :           

23.06.2011

 

IDENTIFICATION DETAILS

 

Name :

FOUR STAR CO WLL

 

 

Registered Office :

Canada Dry Street, Al Zina Street, Shuwaikh Industrial Area, P O Box 29874, Safat 13159

 

 

Country :

Kuwait

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

12.08.1984

 

 

Com. Reg. No.:

38736

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Wholesalers and retailers of automotive accessories and general foodstuff products

 

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$ 150,000

 

 

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

 

SUMMARY

 

Company Name                                     : FOUR STAR CO WLL

Country of Origin                                    : Kuwait

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 12th August 1984

Commercial Registration Number            : 38736

Trade Licence Number                            : 2942/88

Chamber Membership Number                : 6631

Issued Capital                                        : KD 30,000

Paid up Capital                                      : KD 30,000

Total Workforce                                     : 14

Activities                                               : Wholesalers and retailers of automotive accessories and general

foodstuff products.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 150,000

 

COMPANY NAMe

 

FOUR STAR CO WLL

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Canada Dry Street, Al Zina Street

Area                 : Shuwaikh Industrial Area

PO Box             : 29874

Town                 : Safat 13159

Country             : Kuwait

Telephone         : (965) 24822311 / 25646832

Facsimile          : (965) 25646832

Mobile               : (965) 99455394 / 66613872 / 55155297

Email                : askmenew1@gmail.com / fourstarkw@gmail.com

 

Premises

Subject operates from a small suite of offices and a showroom that are rented and located in the Industrial Area of Safat.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Abbass Abdul Karim Al Saffar                                                            Managing Director

 

·       Abeer Abdullah Mahmoud Ghulloom                                                   Director

 

·       Ali Mimji                                                                                           Commercial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 12th August 1984

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 38736

 

Trade Licence No.       : 2942/88

 

Chamber Member No. : 6631

 

Issued Capital              : KD 30,000

 

Paid up Capital            : KD 30,000

 

Name of Shareholder (s)

 

·       Abbass Abdul Karim Al Saffar

 

·       Abeer Abdullah Mahmoud Ghulloom

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of automotive accessories and general foodstuff products.

 

Import Countries: Europe and the Far East.

 

Operating Trend: Steady

 

Subject has a workforce of 14 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 1,200,000                            KD 1,265,000

 

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

 

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.

 

 

 

 Bottom of Form

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.82

UK Pound

1

Rs.72.84

Euro

1

Rs.64.58

 

 

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.