MIRA
INFORM REPORT
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Report Date : |
11.11.2011 |
IDENTIFICATION DETAILS
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Name : |
FOODYS INTERNATIONAL CO WLL |
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Registered Office : |
Building No. 156, 1st Floor, Block No. 1, Street No. 1
Ardiya Area PO Box 26332 Safat 13124 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
20.04.2009 |
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Com. Reg. No.: |
325666 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Distributors of general foodstuffs |
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 : |
EUR 100,000 |
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
SUMMARY
Company Name : FOODYS INTERNATIONAL CO WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 20th April 2009
Commercial Registration Number : 325666
Trade Licence Number : 496/2008
Chamber Membership Number : 119115
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
Total Workforce : 35
Activities : Distributors of general foodstuffs.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Recommended Credit Limit : EUR 100,000
Person Interviewed : Jay Patel, Administration Manager
COMPANY NAME
FOODYS INTERNATIONAL CO WLL
ADDRESS
Registered & Physical Address
Location : Building No.
156, 1st Floor, Block No. 1, Street No. 1
Area : Ardiya Area
PO Box : 26332
Town : Safat 13124
Country : Kuwait
Telephone : (965) 24311119
Facsimile : (965) 24336246
Email : foodys@foodysfood.com
/ zakproteins@gmail.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
· Fouzan Saud
Abdulaziz Al Fouzan Managing
Director
· Saud Fouzan Saud Abdulaziz
Al Fouzan Director
· Zakaria Farghal General
Manager
· Mohamed Ormair Financial
Manager
· Jay Patel Administration
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 20th
April 2009
Legal Form : With Limited Liability
- WLL
Commercial Reg.
No. : 325666
Trade Licence No. : 496/2008
Chamber Member No. : 119115
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
Name of Shareholder (s)
· Fouzan Saud
Abdulaziz Al Fouzan
· Saud Fouzan Saud Abdulaziz
Al Fouzan
· Sadita Holding
KSC(C)
Safat
AFFILIATED COMPANIES
· Kuwait Protein Co
WLL
Safat
OPERATIONS
Activities: Engaged in the import and distribution of general foodstuffs, including
canned fruits and vegetables, oil, cheese, pasta, vinegar and table sauces.
Import Countries: Europe and the Far East
Brand Names: MATERNA, AL JAMAL
CEYLON TEA, BOOZZ, BOULOS, VANOISE, NIGHT ORIENT, GOLDEN
MIE, MAGIC BEN 10, VANDAMM HALAL MARSHMALLOWS,
SICAM TOMATOES, HARISSA,
GOLDINA
Subject has a workforce of 35 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Kuwaiti Dinars (KD)
Year
Ending 31/12/10:
Total Sales KD
1,100,000
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.49.78 |
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|
1 |
Rs.80.10 |
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Euro |
1 |
Rs.68.82 |
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 |
-- |
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.