MIRA INFORM REPORT

 

 

Report Date :           

29.03.2011

 

IDENTIFICATION DETAILS

 

Name :

SAHEBCO INTEGRATED COMPANY

 

 

Registered Office :

Shourouq Centre, 4th Floor, Office No. 5, Beirout Street, Hawalli, P.O.Box No. 4355, Hawalli 32074

 

 

Country :

Kuwait

 

 

Date of Incorporation :

20.01.2009

 

 

Com. Reg. No.:

329992

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Wholesalers, Stockholders, Distributors, Exporters and Recyclers of ferrous and non-ferrous metals, residues, spent catalysts and other recyclable commodities

 

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 :

KD 15,000

Status :

Small 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

 

Company NAME

 

Sahebco Integrated Company (Correct)

Sahebco Integrated Co W.L.L. (Requested)

 

 

company ADDRESS

 

Building   :         Shourouq Centre, 4th Floor, Office No. 5

Street     :         Beirout Street

Area       :         Hawalli

P.O.Box No.:     4355

Town       :         Hawalli 32074

Country    :        Kuwait

Telephone  :      (965) 2263 6608 / 2263 6609 / (Mobile) (965) 9914 4408

                         (Razaq Salman Sahib)

Fax        :          (965) 2263 6607

E-Mail     :         sahebuni@quality.net

Website    :       www.sahebco.com

 

Also known as : Sahebco Integrated For General Trading And Contracting Co. WLL 

 

 

SENIOR COMPANY PERSONNEL

 

Name                           Position

 

Razaq Salman Sahib         Managing Director

 

Total Employees : 25

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers or banks.

 

We consider it is acceptable to deal with subject for SMALL amounts.

however in view of the lack of financial information we recommend international suppliers exercise a degree of caution.

 

Opinion on maximum credit : KD 15,000 (higher amounts may be considered with full fiscal disclosure)

 

Trade risk assessment: Normal

 

 

PRINCIPAL BANKERS

 

NAME     :         NATIONAL BANK OF KUWAIT SAK (NBK)

Branch   :          Abdullah Al Salem Street

PO Box   :         95

Town     :           Safat 13001

Telephone:        (965) 2242 2011

Fax      :            (965) 2246 4156

 

 

FINANCIAL INFORMATION

 

Private companies in Kuwait are not required to publish or disclose balance sheets. Balance sheets are not available from other sources, and the subject interviewed declined to give any financial information, which the company regards as strictly confidential.

 

 

LEGAL STATUS AND HISTORY

 

Date Started :                20 January 2009

 

C.R. No. :                      329992

 

KCCI Membership No.: 117697 (expiry date: 08/03/2011)

 

Authorised Capital :        KD 500,000

 

Paid-Up Capital :            KD 500,000

  

Limited Liability Company with the following shareholders :
 
                                                                                               Percentage
 
1. Razaq Salman Sahib                                                            51%
   (Kuwaiti national)
 
2. Hayat Salman Sahib                                                             49%
   (sister of the above)

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Trading as wholesalers, stockholders, distributors, exporters and recyclers of ferrous and non-ferrous metals, residues, spent catalysts and other recyclable commodities.

 

Subject’s handled products include the flowing :

 

- Copper Scrap

- Aluminium Scrap

- Brass Scrap: Honey & Ocean

- Stainless Steel Scrap

- Lead Scrap Rains (Dry Batteries) & cable stripping &tubes.

- Paper Scrap

- Steel Scrap

 

Subject purchases all its requirements locally.

 

Exports to Asia, mainly to India, Pakistan and China.

 

 

FACILITIES

 

The Company has the following facilities :

 

Rented administrative offices and storage facilities located at the heading address.

 

 

SPECIAL NOTE

 

You enquired on: Sahebco Integrated Co W.L.L. Please note that the correct name is as per heading.  

 

Interviewed: Razaq Salman Sahib (Managing Director).  

 

 

 

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.