MIRA INFORM
REPORT
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Report Date : |
03.04.2012 |
IDENTIFICATION DETAILS
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Name : |
SADIQ ZALZALAH SONS GENERAL TRADING AND
CONTRACTING CO WLL |
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Registered Office : |
Souk Bassam, 2nd
Floor, Suite No. 11-12, Ali Mubarak Street, Al Mubarakiya Area, P
O Box 27948, Safat 13140 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
04.07.1995 |
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Com. Reg. No.: |
58536, Safat |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Wholesale and retail of readymade garments and textiles |
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No. of Employees
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06 |
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$ 150,000 |
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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 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 |
Company Name : SADIQ ZALZALAH SONS GENERAL TRADING AND CONTRACTING
CO WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 4th July 1995
Commercial Registration Number : 58536, Safat
Trade Licence Number : 5078/2004
Chamber Membership Number : 4944
Issued Capital : KD 50,000
Paid up Capital : KD 50,000
Total Workforce : 6
Activities : Wholesale and retail of readymade garments and textiles.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Mukesh Daryani, Sales Manager
SADIQ ZALZALAH SONS GENERAL TRADING AND
CONTRACTING CO WLL
Registered &
Physical Address
Location : Souk Bassam, 2nd Floor,
Suite No. 11-12
Street : Ali Mubarak Street
Area : Al
Mubarakiya Area
PO Box : 27948
Town : Safat 13140
Country : Kuwait
Telephone : (965) 22407612
Facsimile : (965) 22401768
Mobile : (965) 99712284
Email : mukeshdaryani@gmail.com
Premises
Subject operates from
a medium sized suite of offices and a showroom that are rented and located in
the Central Business Area of Safat.
Name Position
·
Mohamed Sadiq Al Zalzalah Managing
Director
·
Basma Sadiq Al Zalzalah Director
·
Fatma Sadiq Al Zalzalah Director
·
Ibrahim
Sadiq Al Zalzalah Director
·
Masouma Sadiq Al Zalzalah Director
·
Mukesh
Daryani Sales
Manager
Date of Establishment : 4th
July 1995
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 58536, Safat
Trade Licence No. : 5078/2004
Chamber Member No. : 4944
Issued Capital : KD 50,000
Paid up Capital : KD 50,000
Name of
Shareholder (s)
·
Mohamed Sadiq Al Zalzalah
·
Basma Sadiq Al Zalzalah
·
Fatma Sadiq Al Zalzalah
·
Ibrahim
Sadiq Al Zalzalah
·
Masouma Sadiq Al Zalzalah
Activities: Engaged in the wholesale and retail of
readymade garments and textiles.
Import
Countries: India
Agencies Held:
·
Diwan Fabrics India
·
Superman
Knitwear Ltd India
Operating Trend: Steady
Subject has a
workforce of 6 employees.
Financial
highlights provided by local sources are given below:
Currency: Kuwaiti
Dinars (KD)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales KD 1,670,000 KD
1,750,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Bank of Kuwait
Ali Awadi Tower
Ahmed Al Jaber Street
PO Box: 95
Safat 13001
Tel: (965) 23981188 / 23981189
Fax: (965) 23985643
Acc No. 7921440102
No complaints
regarding subject’s payments have been reported.
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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.51.16 |
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UK Pound |
1 |
Rs.81.79 |
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Euro |
1 |
Rs.68.34 |
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.