MIRA INFORM REPORT

Report Date :

20.10.2011

IDENTIFICATION DETAILS

Name :	UNITED COMPANY FOR DISTRIBUTION OF NEWSPAPERS & PUBLICATION

Registered Office :	Al Madina Tower No. 1, 6th Floor, Fahed Al Salem Street, P O Box 6588, Hawalli 32040

Country :	Kuwait

Date of Incorporation :	08.05.1979

Com. Reg. No.:	28260

Legal Form :	With Limited Liability

Line of Business :	Distribution of newspapers

RATING & COMMENTS

MIRA’s Rating :

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 :	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 – September 30^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Kuwait

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SUMMARY

Company Name : UNITED COMPANY FOR DISTRIBUTION OF NEWSPAPERS &

PUBLICATION

Country of Origin : Kuwait

Legal Form : With Limited Liability - WLL

Registration Date : 8^th May 1979

Commercial Registration Number : 28260

Trade Licence Number : 2940/79

Chamber Membership Number : 8208

Issued Capital : KD 100,000

Paid up Capital : KD 100,000

Total Workforce : 35

Activities : Distribution of newspapers.

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Recommended Credit Limit : US$ 150,000

COMPANY NAME

UNITED COMPANY FOR DISTRIBUTION OF NEWSPAPERS & PUBLICATION

company ADDRESS

Registered & Physical Address

Building : Al Madina Tower No. 1, 6th Floor

Street : Fahed Al Salem Street

PO Box : 6588

Town : Hawalli 32040

Country : Kuwait

Telephone : (965) 22412820 / 22456198 / 22421468

Facsimile : (965) 22460953

Email : info@almutahida.com

Premises

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

KEY PRINCIPALS

Name Nationality Position

· Ahmed Abdul Hussain Haider Lebanese Managing Director

· Jassim Mohamed Haiti Kuwaiti Director

· Jamal Ahmed Abdul Hussain Haider Lebanese General Manager

· Khalil Fares - Sales Manager

· Akram Al Toukhi - Financial Controller

LEGAL FORM & OWNERS

Date of Establishment : 8^th May 1979

Legal Form : With Limited Liability - WLL

Commercial Reg. No. : 28260

Trade Licence No. : 2940/79

Chamber Member No. : 8208

Issued Capital : KD 100,000

Paid up Capital : KD 100,000

Name of Shareholder (s)

· Ahmed Abdul Hussain Haider

· Jassim Mohamed Haiti

OPERATIONS

Activities: Engaged in the distribution of newspapers, particularly Lebanese and Egyptian newspapers, including Al Safeer, Al Baraq, Al Sharq, Al Ahram, Al Haya, Al Hiwar and El Wafed.

Subject has a workforce of 35 employees.

FINANCIAL DATA

Companies registered in Kuwait are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

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

During the course of this investigation nothing detrimental was uncovered regarding subject’s operating history or the manner in which payments are fulfilled. As such the company is considered to be a fair trade risk and the above credit figure is within subject’s financial means.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.18
UK Pound	1	Rs.77.49
Euro	1	Rs.67.96

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
----	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.