MIRA INFORM REPORT

 

 

Report Date :           

19.04.2012

 

IDENTIFICATION DETAILS

 

Name :

GULF PASTRIES MANUFACTURING CO WLL (SARA CAKE)

 

 

Registered Office :

Building No. 49/141, Block/Area No.10, Street 1, Subhan Industrial Area, P O Box 3531, Safat 13036

 

 

Country :

Kuwait

 

 

Date of Incorporation :

09.09.1991

 

 

Com. Reg. No.:

4146

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Manufacturers of bakery products

 

 

No. of Employees :

75

 

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$ 200,000

 

 

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 – 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                                     : GULF PASTRIES MANUFACTURING CO WLL (SARA CAKE)

Country of Origin                                    : Kuwait

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 9th September 1991

Commercial Registration Number            : 4146

Trade Licence Number                            : 10361

Chamber Membership Number                : 24080

Issued Capital                                        : KD 501,000

Paid up Capital                                      : KD 501,000

Total Workforce                                     : 75

Activities                                               : Manufacturers of bakery products.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 200,000

 

 

 

 

COMPANY NAME

 

GULF PASTRIES MANUFACTURING CO WLL (SARA CAKE)

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Building No. 49/141, Block/Area No.10

Street               : Street 1

Area                 : Subhan Industrial Area

PO Box             : 3531

Town                 : Safat 13036

Country             : Kuwait

Telephone         : (965) 24731006 / 24764728 / 24731048 / 24745400

Facsimile          : (965) 24764729 / 24713020

Email                : sara@wazzan.com

 

Premises

Subject operates from a large suite of offices and a bakery that are rented and located in the Industrial Area of Safat.

 

 

KEY PRINCIPALS

 

     Name                                                                      Nationality                   Position

·       Abdulrahman Jassim Mohamed Al Wazzan                 Kuwaiti                          Managing Director

·       Khalid Jassim Mohamed Al Wazzan                           Kuwaiti                          Director

·       Diraj Kumar Oberoi                                                    Indian                            Director

·       Sudhair Kumar Oberoi                                               Indian                            Director

·       Kowel Kumar Oberoi                                                  Indian                            Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 9th September 1991

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 41416

 

Trade Licence No.       : 10361

 

Chamber Member No. : 24080

 

Issued Capital              : KD 501,000

 

Paid up Capital            : KD 501,000

 

Name of Shareholder (s)                                             

·       Abdulrahman Jassim Mohamed Al Wazzan                

·       Khalid Jassim Mohamed Al Wazzan                          

·       Diraj Kumar Oberoi                                                   

·       Sudhair Kumar Oberoi                                              

·       Kowel Kumar Oberoi 

 

 

AFFILIATED COMPANIES

 

·       Conserved Foodstuffs Distributing Co WLL

PO Box: 26226

Safat 13123

Tel: (965) 24812901

Fax: (965) 24722142

 

·       Al Monsouriya Consumable Goods Co

PO Box: 124

Safat 13002

Tel: (965) 24846433

Fax: (965) 24841575

 

·       Fruits Island Center

PO Box: 124

Safat 13002

Tel: (965) 24846433

Fax: (965) 24836162

 

·       Al Montasser Shampoo Factory

PO Box: 124

Safat 13002

Tel: (965) 24846433

Fax: (965) 24730808

 

·       Khazan Meat Factory

PO Box: 124

Safat 13002

Tel: (965) 24846433

Fax: (965) 24836162

 

·       Kuwait Mepha Pharmaceutical Co

PO Box: 124

Safat 13002

Tel: (965) 24846433

Fax: (965) 24836162

 

·       Al Najat Al Oula General Trading Est

PO Box: 124

Safat 13002

Tel: (965) 24839184

Fax: (965) 24836162

 

·       Mezzan Al Qabida Company

PO Box: 124

Safat 13002

Tel: (965) 24846433

Fax: (965) 24836162

 

·       Jassim Al Wazzan Sons General Trading Co WLL

Al Wazzan Building

Wholesale Street

Shuwaikh Industrial Area

PO Box: 124, Safat 13002

Safat 13123

Tel: (965) 24338538

Fax: (965) 24835362

 

·       Wadyan Real Estate Co

PO Box: 124

Safat 13002

Tel: (965) 24846433

Fax: (965) 24836162

 

·       National Canned Food Production & Trading Co WLL

     Sabhan Industrial Area, Area No 10, Plot 144

     PO Box: 25452

     Safat 13115

     Tel: (965) 24748484 / 24761295 / 24737754 / 24748866

     Fax: (965) 24766540

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of bakery products, including cakes.

 

Import Countries: Europe and the Far East.

 

Brand Names: SARA CAKE and FIFTH AVENUE

 

Subject has a workforce of 75 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

 

·       Kuwait Finance House (KFH)

Safat Square

Abdullah Al Mubarak Street

PO Box: 24989

Safat 13110

Tel: (965) 22445050

Fax: (965) 22455135

 

 

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.51.50

UK Pound

1

Rs.81.99

Euro

1

Rs.67.54

 

 

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.