MIRA INFORM REPORT
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Report Date : |
31.10.2011 |
IDENTIFICATION DETAILS
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Name : |
AL SAFAT GULF FOODSTUFFS COMPANY WLL |
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Registered Office : |
Building No. 97
& 98, Street No. 67, Shuwaikh Industrial Area No. 3, P O Box 26309, 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 : |
30.05.1990 |
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Com. Reg. No.: |
41338, Safat |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Distributors of general foodstuff products |
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 : |
US$ 250,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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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 30th, 2011
|
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 : AL SAFAT GULF FOODSTUFFS COMPANY WLL
Also Known As : AL SAFAT GULF CO WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 30th May 1990
Commercial Registration Number : 41338, Safat
Trade Licence Number : 322/90
Chamber Membership Number : 22350
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Total Workforce : 35
Activities : Distributors of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
Person Interviewed : Ibrahim Elias Khal, General Manager
COMPANY NAME
AL SAFAT GULF FOODSTUFFS COMPANY WLL
ALSO KNOWN AS
AL SAFAT GULF CO WLL
company ADDRESS
Registered &
Physical Address
Building : Building No. 97 & 98
Street : Street No. 67
Area : Shuwaikh Industrial Area No.
3
PO Box : 26309
Town : Safat 13124
Country : Kuwait
Telephone : (965) 24833516 / 24813868
Facsimile : (965) 24849789
Email : safatglf@qualitynet.net
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are owned and located
in the Industrial Area of Safat.
KEY PRINCIPALS
Name Position
·
Fahed
Mohamed Nazal Al Kreebati Managing
Director
·
Ayman
Elias Khal Director
·
Ibrahim
Elias Khal General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 30th
May 1990
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 41338, Safat
Trade Licence No. : 322/90
Chamber Member No. : 22350
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Name of
Shareholder (s)
·
Fahed
Mohamed Nazal Al Kreebati
·
Ayman
Elias Khal
AFFILIATED COMPANIES
·
Al
Massila International Foodstuff Co
Safat
CR No. 88701
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuff products, including poultry, fruit, vegetables, dairy products,
edible oils, sugar and canned foods.
Import
Countries: Europe, Brazil,
New Zealand and Australia.
International
Suppliers:
·
Frango
Sol Brazil
·
Fresh
Lead Spain
·
Heler
Preston New Zealand
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Telly
Chicken France
·
Steiger Australia
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 2,110,000 KD 2,250,000
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
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.82 |
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UK Pound |
1 |
Rs.78.57 |
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Euro |
1 |
Rs.69.29 |
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 |
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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.