MIRA INFORM REPORT

Report Date :

20.04.2012

IDENTIFICATION DETAILS

Name :	D AIN TRADING ESTABLISHMENT

Registered Office :	Commercial Area No. 9, P O Box 21451, Safat 1307

Country :	Kuwait

Date of Incorporation :	26.02.1990

Com. Reg. No.:	62726, Safat

Legal Form :	Sole Proprietorship

Line of Business :	Distributors of general foodstuff products and beverages

No. of Employees :	08

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	US$ 150,000

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 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Kuwait

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SUMMARY

Company Name : D AIN TRADING ESTABLISHMENT

Also Known As : THI AL AYEEN TRADING ESTABLISHMENT

Country of Origin : Kuwait

Legal Form : Sole Proprietorship

Registration Date : 26^th February 1990

Commercial Registration Number : 62726, Safat

Trade Licence Number : 4808/95

Chamber Membership Number : 15809

Invested Capital : KD 50,000

Total Workforce : 8

Activities : Distributors of general foodstuff products and beverages.

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Recommended Credit Limit : US$ 150,000

COMPANY NAME

D AIN TRADING ESTABLISHMENT

ALSO KNOWN AS

THI AL AYEEN TRADING ESTABLISHMENT

company ADDRESS

Registered & Physical Address

Location : Commercial Area No. 9

PO Box : 21451

Town : Safat 13075

Country : Kuwait

Telephone : (965) 22461939 / 22458302 / 22458301

Facsimile : (965) 22446503

Premises

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

KEY PRINCIPALS

Name Position

· Saud Mohamed Al Azami Proprietor & General Manager

· Abraham George Assistant General Manager

LEGAL FORM & OWNERS

Date of Establishment : 26^th February 1990

Legal Form : Sole Proprietorship

Commercial Reg. No. : 62726, Safat

Trade Licence No. : 4808/95

Chamber Member No. : 15809

Invested Capital : KD 50,000

Mr Saud Mohamed Al Azami is the sole proprietor of the business.

OPERATIONS

Activities: Engaged in the import and distribution of general foodstuff products and beverages.

Import Countries: Europe and the Far East.

Subject has a workforce of 8 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

· National Bank of Kuwait SAK

Ali Awadi Tower

Ahmed Al Jaber Street

PO Box: 95

Safat 13001

Tel: (965) 3981188 / 3981189

Fax: (965) 3985643

Acc No. 0003419670101

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 and the above credit figure is considered to be within subject’s financial means.

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.