MIRA INFORM REPORT
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Report Date : |
09.02.2012 |
IDENTIFICATION DETAILS
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Name : |
SILVER STARS BUILDING MATERIAL COMPANY WLL |
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Registered Office : |
Farah Center,
Shop No. 4, Block No. 1, Street No. 23,
Shuwaikh Industrial Area P O Box 42210,
Shuwaikh 70653, Safat |
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Country : |
Kuwait |
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Date of Incorporation : |
11.11.2008 |
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Com. Reg. No.: |
329698, Safat |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Distributors of general building materials as well as central air conditioning systems, plumbing and sanitary materials and tools |
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No. of Employees
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12 |
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
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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 |
SUMMARY
Company Name : SILVER STARS BUILDING MATERIAL COMPANY WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability – WLL
Start Date : 1991
Registration Date : 11th November 2008
Commercial Registration Number : 329698, Safat
Trade Licence Number : 4924/2008
Chamber Membership Number : 117037
Issued Capital : KD 30,000
Paid up Capital : KD 30,000
Total Workforce : 12
Activities :
Distributors of general building materials as well as
central air
conditioning systems, plumbing and sanitary materials and tools.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
Person Interviewed : Ali Akbar, Sales Manager
COMPANY NAME
SILVER STARS BUILDING MATERIAL COMPANY WLL
company ADDRESS
Registered &
Physical Address
Building : Farah Center, Shop No. 4, Block
No. 1
Street : Street
No. 23
Area : Shuwaikh Industrial Area
PO Box : 42210, Shuwaikh 70653
Town : Safat
Country : Kuwait
Telephone : (965) 24823961 / 24841406
Facsimile : (965) 24913270
Mobile : (965) 99771607 / 99401786
Email : silverstarskwt@gmail.com
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Industrial Area of Safat.
KEY PRINCIPALS
Name Nationality Position
·
Hatim Mohsin Bhai Kandanwala Indian Managing
Director
·
Dhirar Khalid Al Rabah Kuwaiti Director
·
Mohamed Asghar - General
Manager
·
Ali
Akbar - Sales
Manager
·
Ali
Mohamed Asghar - Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1991, however
subject was registered on 11th November 2008
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 329698, Safat
Trade Licence No. : 4924/2008
Chamber Member No. : 117037
Issued Capital : KD 30,000
Paid up Capital : KD 30,000
Name of
Shareholder (s)
·
Hatim Mohsin Bhai Kandanwala
·
Dhirar Khalid Al Rabah
OPERATIONS
Activities: Engaged in the
wholesale and retail of general building materials as well as central air
conditioning
systems, plumbing
and sanitary materials and tools.
Import
Countries: Europe and India
International
Suppliers:
·
Duraduct India
Subject has a
workforce of 12 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
Shuwaikh
Tel: (965) 24813266 / 24818350
Fax: (965) 24844126
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.07 |
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UK Pound |
1 |
Rs.78.09 |
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Euro |
1 |
Rs.65.15 |
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.