MIRA INFORM REPORT

 

 

Report Date :

19.04.2012

 

IDENTIFICATION DETAILS

 

Name :

AL HAKIMI UNITED TRADING CO WLL

 

 

Registered Office :

Abdul Rahman M Al Bahar Building No. 38, Office No. 5, Basement New Street

Safat

 

 

Country :

Kuwait

 

 

Date of Incorporation :

21.10.2003

 

 

Com. Reg. No.:

96691

 

 

Legal Form :

With Limited Liability - WLL

 

 

Line of Business :

Distributors of electrical and electronic products

 

 

No. of Employees :

4

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

US$ 50,000

Status :

Moderate

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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                                     : AL HAKIMI UNITED TRADING CO WLL

Country of Origin                                    : Kuwait

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 21st October 2003

Commercial Registration Number            : 96691

Trade Licence Number                            : 2895/2003

Chamber Membership Number                : 84873

Issued Capital                                        : KD 7,500

Paid up Capital                                      : KD 7,500

Total Workforce                                     : 4

Activities                                               : Distributors of electrical and electronic products

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 50,000

 

 

 

COMPANY NAME

 

AL HAKIMI UNITED TRADING CO WLL

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Abdul Rahman M Al Bahar Building No. 38, Office No. 5, Basement

Street               : New Street

 

Town                 : Safat

Country             : Kuwait

 

Mobile               : (965) 9947775

 

Premises

 

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

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Yacoub Abdullah Ramadan Al Eidi                                                      Managing Director

 

·       Yousef Yacoub Abdullah Ramadan Al Eidi                                           Director

 

·       Faisal Yacoub Abdullah Ramadan Al Eidi                                            Director

 

·       Qutub Eddine Shuaib                                                                         General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 21st October 2003

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 96691

 

Trade Licence No.       : 2895/2003 (Expires 23/11/2013)

 

Chamber Member No. : 84873

 

Issued Capital              : KD 7,500

 

Paid up Capital            : KD 7,500

 

Name of Shareholder (s)

 

·       Yacoub Abdullah Ramadan Al Eidi

 

·       Yousef Yacoub Abdullah Ramadan Al Eidi

 

·       Faisal Yacoub Abdullah Ramadan Al Eidi

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of electrical and electronic products.

 

Subject has a workforce of 4 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

 

·       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

 

Please note that we were unable to contact the subject directly during our investigation.

 

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.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.89

UK Pound

1

Rs.83.18

Euro

1

Rs.68.06

 

 

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.