MIRA INFORM REPORT

 

 

Report Date :           

13.05.2011

 

IDENTIFICATION DETAILS

 

Name :

RAMO GENERAL TRADING CO WLL (CAKE N BAKE)

 

 

Registered Office :

Street No. 104, Area No. 1, North Subhan, P O Box 8066, Safat 22051

 

 

Country :

Kuwait 

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

27.10.1999

 

 

Com. Reg. No.:

78485

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Distributors of cakes and bakery 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 :

Usually Correct 

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

a3

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : RAMO GENERAL TRADING CO WLL (CAKE N BAKE)

Country of Origin                                    : Kuwait

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 27th October 1999

Commercial Registration Number            : 78485

Trade Licence Number                            : 1222/99

Chamber Membership Number                : 60471

Issued Capital                                        : KD 30,000

Paid up Capital                                      : KD 30,000

Total Workforce                                     : 35

Activities                                               : Distributors of cakes and bakery products.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 150,000

 

COMPANY NAME

 

RAMO GENERAL TRADING CO WLL (CAKE N BAKE)

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Street No. 104

Area                 : Area No. 1, North Subhan

PO Box             : 8066

Town                 : Safat 22051

Country             : Kuwait

Telephone         : (965) 1834834 / 25749123 / 25718150 / 24750596

Facsimile          : (965) 24750537 / 25738284

 

Premises

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

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Mohamed Abdulaziz Mohamed Al Rashid                                            Managing Director

 

·       Anan Omar Adel Zoaiter                                                                     Director

 

·       Maher Kamel Al Hakim                                                                      Director

 

·       Mazen Al Tarzi                                                                                  Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 27th October 1999

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 78485

 

Trade Licence No.       : 1222/99

 

Chamber Member No. : 60471

 

Issued Capital              : KD 30,000

 

Paid up Capital            : KD 30,000

 

Name of Shareholder (s)

 

·       Mohamed Abdulaziz Mohamed Al Rashid

 

·       Anan Omar Adel Zoaiter

 

·       Maher Kamel Al Hakim

 

·       Mazen Al Tarzi

 

 

AFFILIATED COMPANIES

 

·       Comfort Shoes Co

Safat

Tel: (965) 25749123

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of cakes and bakery products.

 

Import Countries: Europe and the Far East.

 

Operating Trend: Steady

 

Subject has a workforce of 35 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 1,700,000                            KD 2,000,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

BANKERS

 

·       Burgan Bank

     Shuwaikh

     PO Box: 5389

     Safat 13054

     Tel: (965) 24830433

     Fax: (965) 24830690

 

 

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.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.79

UK Pound

1

Rs.73.19

Euro

1

Rs.63.59

 

 

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.