MIRA INFORM REPORT

 

 

Report Date :           

22.11.2011

 

IDENTIFICATION DETAILS

 

Name :

DIAMOND HOUSE INTERNATIONAL GENERAL TRADING & CONTRACTING CO WLL

 

 

Registered Office :

Taher Bu Hamad Building, Office No. 16, Othman Street, Shuwaikh, P O Box 5978, Hawalli 32090

 

 

Country :

Kuwait

 

 

Date of Incorporation :

06.02.2011

 

 

Com. Reg. No.:

102292

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Subject operates several divisions : Spare Parts & Air Conditioning Division and Auto Logistics Division

 

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$ 30,000

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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                                     : DIAMOND HOUSE INTERNATIONAL GENERAL TRADING &

                                                                           CONTRACTING CO WLL

Country of Origin                                    : Kuwait

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 6th February 2011

Commercial Registration Number            : 102292

Trade Licence Number                            : 2949/2004

Chamber Membership Number                : 126548

Issued Capital                                        : KD 50,000

Paid up Capital                                      : KD 50,000

Total Workforce                                     : 15

Activities                                               : Subject operates several divisions (see below for details)

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 30,000

Person Interviewed                                 : Ansar Magoor, Sales Manager

 

 

 

COMPANY NAME

 

DIAMOND HOUSE INTERNATIONAL GENERAL TRADING & CONTRACTING CO WLL

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Taher Bu Hamad Building, Office No. 16

Street               : Othman Street

Area                 : Shuwaikh

PO Box             : 5978

Town                 : Hawalli 32090

Country             : Kuwait

Telephone         : (965) 24928046

Facsimile          : (965) 24928047

Email                : info@dhikwt.com / sales@dhikwt.com

 

Premises

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Hawalli.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Jaber Atshan Ali Al Anzi                                                                    Managing Director

 

·       Hussain Mohamed Hussain Al Nasser                                                Director

 

·       Mussalam Mohmaed Mussalam Al Zamil                                            Director

 

·       Mansour Abdul Mohsin A Saad                                                          Director

 

·       Ahmed Al Hariri                                                                                 Assistant General Manager

 

·       Ansar Magoor                                                                                   Sales Manager

 

·       Atif Beshara                                                                                      Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 6th February 2011

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 102292

 

Trade Licence No.       : 2949/2004

 

Chamber Member No. : 126548

 

Issued Capital              : KD 50,000

 

Paid up Capital            : KD 50,000

 

Name of Shareholder (s)                                             

 

·       Jaber Atshan Ali Al Anzi

 

·       Hussain Mohamed Hussain Al Nasser

 

·       Mussalam Mohmaed Mussalam Al Zamil

 

·       Mansour Abdul Mohsin A Saad

 

 

OPERATIONS

 

Activities: Subject’s operations are performed through the following divisions:

 

·       Spare Parts & Air Conditioning Division

 

Engaged in the import and distribution of van, buses and commercial vehicle parts, brake pads, discs, tyres and air conditioning systems.

 

·       Auto Logistics Division

 

     Engaged in the provision of logistics, storage and warehousing.

 

Import Countries: India, China and Germany.

 

International Suppliers:

 

·       TVS Industries          India

·       Universal Tyres         China

·       Bock Compressor     India & Germany

·       Ditzer Compressor    Germany

·       Konvekta GmbH        Germany

 

Subject has a workforce of 15 employees.

 

 

FINANCIAL DATA

 

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

 

 

BANKERS

 

·       Bank of Kuwait & the Middle East KSC

Abdullah Al Salem Street

Darwaza Abdul Razzak

PO Box: 71

Safat 13001

Tel: (965) 22459771

Fax: (965) 22461430

 

 

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.51.72

UK Pound

1

Rs.81.42

Euro

1

Rs.68.89

 

 

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.