MIRA INFORM REPORT

 

 

Report Date :           

29.03.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

M S BEAUTY & COSMETICS

 

 

Registered Office :

Souk Al Hareem, Safat

 

 

Country :

Kuwait

 

 

Date of Incorporation :

03.02.2010

 

 

Com. Reg. No.:

32436

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Wholesalers and retailers of beauty products and cosmetics

 

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 :

US$ 80,000

 

 

Status :

New 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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

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                                     : M S BEAUTY & COSMETICS

Also Known As                                      : M S BEAUTY

Country of Origin                                    : Kuwait

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 3rd February 2010

Commercial Registration Number            : 32436

Trade Licence Number                            : 2008/2009

Invested Capital                                     : KD 30,000

Total Workforce                                     : 5

Activities                                               : Wholesalers and retailers of beauty products and cosmetics.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 80,000

 

COMPANY NAME

 

M S BEAUTY & COSMETICS

 

 

ALSO KNOWN AS

 

M S BEAUTY 

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Souk Al Hareem

Town                 : Safat

Country             : Kuwait

Telephone         : (965) 22490120

Facsimile          : (965) 22454693

Mobile               : (965) 99292824

Email                : msbeautyseenu@hotmail.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

 

·       Najah Deeb Kasoumah                                                                      Proprietor

 

·       Seenu Manchala                                                                               General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 3rd February 2010

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 32436

 

Trade Licence No.       : 2008/2009

 

Chamber Member No. : 22092

 

Invested Capital           : KD 30,000

 

Mr Najah Deeb Kasoumah is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of beauty products and cosmetics.

 

Import Countries: Europe and the Far East.

 

Subject has a workforce of 5 employees.

 

 

FINANCIAL DATA

 

Subject is a newly formed business and as a result financial information is not currently available.

 

 

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

 

In view of subject’s infancy, extensive payment and financial are not available, therefore dealings are recommended to be on secured terms, and a close monitoring of subject’s business development is advisable.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.78

UK Pound

1

Rs.71.64

Euro

1

Rs.62.96

 

 

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

 

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.