MIRA INFORM
REPORT
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Report Date : |
19.04.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Al Awfaq Complex,
Tower No. 14, 8th Floor, Office No. 18, Al Sharq, Safat |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
14.10.2001 |
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Com. Reg. No.: |
73375 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of general foodstuff products |
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No. of Employees
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25 |
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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 :
Country of Origin : Kuwait
Legal Form : Sole Proprietorship
Registration Date : 14th October 2001
Commercial Registration Number : 73375
Trade Licence Number : 4632/2000
Chamber Membership Number : 82964
Invested Capital : KD 50,000
Total Workforce : 25
Activities : Distributors of general foodstuff products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
IBIZA TRADING EST
Registered & Physical Address
Building : Al Awfaq Complex, Tower No. 14, 8th
Floor, Office No. 18
Area : Al Sharq
Town : Safat
Country : Kuwait
Telephone : (965) 22458394 / 22423743
Facsimile : (965) 22423743
Mobile : (965) 97233682
Email : info@laspalmsrc.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Safat.
Branch Office
(s)
Location Description
·
Al
Awfaq Complex, Tower No. 16, 8th Floor, Office No. 7 Office premises for
restaurant inspections
Al Sharq
Safat
Tel: (965) 22458278
Fax: (965) 22473257
Name Position
·
Abdulrahman
Abdul Mohsin Al Mutairi Proprietor
·
Marzooq
Abdul Mohsin Al Mutairi General
Manager
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Gias
Yoddian Assistant General Manager
·
Motaa
Amer Human
Resources & Administration Manager
·
John
Abraham Financial
Manager
Date of Establishment : 14th
October 2001
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 73375
Trade Licence No. :
4632/2000
Chamber Member No. : 82964
Invested Capital
: KD 50,000
Mr Abdulrahman
Abdul Mohsin Al Mutairi is the sole proprietor of the business.
·
Las
Palms Restaurants Co
Al Awfaq Complex, Tower No. 15, 2nd
Floor, Office No. 18
Al Sharq
Safat
CR No. 83041
Please note that the Subway franchise is operated by Las Palms
Restaurants Co.
Activities: Engaged in the import and distribution of
general foodstuff products.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 25 employees.
Financial
highlights provided by local sources are given below:
Currency: Kuwaiti
Dinar (KD)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales KD 1,400,000 KD 1,620,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Commercial
Bank of Kuwait SAK
Mubarak Al Kabir Street
PO Box: 2861
Safat 13029
Tel: (965) 22411001
Fax: (965) 22450150
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
business is considered to be a fair trade risk.
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.50 |
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UK Pound |
1 |
Rs.81.99 |
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Euro |
1 |
Rs.67.54 |
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.