MIRA
INFORM REPORT
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Report Date : |
10.02.2012 |
IDENTIFICATION DETAILS
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Name : |
SAAD AL MUTAIRI GENERAL TRADING & CONTRACTING CO WLL |
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Registered Office : |
Al Sarih Complex, 2nd Floor, Office No. 6, Plot No. 7/8 PO
Box 41851 Jalib Al Sheoukh 85859 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
03.10.1993 |
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Com. Reg. No.: |
50656 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Distributors of general foodstuffs. |
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No. of Employees : |
7 |
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 30, 2011
|
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 : SAAD AL MUTAIRI GENERAL TRADING & CONTRACTING CO WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 3rd October 1993
Commercial Registration Number : 50656
Trade Licence Number : 340/93
Chamber Membership Number : 38187
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Total Workforce : 7
Activities : Distributors of general foodstuffs.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
SAAD AL MUTAIRI GENERAL TRADING & CONTRACTING CO WLL
ADDRESS
Registered & Physical Address
Location : Al Sarih
Complex, 2nd Floor, Office No. 6, Plot No. 7/8
PO Box : 41851
Town : Jalib Al
Sheoukh 85859
Country : Kuwait
Telephone : (965) 24344901
/ 24344344 / 24311338 / 65799902
Facsimile : (965) 24311339
Email : abdelnasirkalw@gmail.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Jalib Al Sheoukh.
KEY PRINCIPALS
Name Position
· Abdullah Saad
Samer Al Mutairi Managing
Director
· Khaled Saad Samer
Al Mutairi Director
· Mohamed Saad Samer
Al Mutairi Director
· Saud Saad Samer Al
Mutairi Director
· Khaled Mukhtar General
Manager
· Ahmed Saad Financial
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 3rd October
1993
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 50656
Trade Licence No. : 340/93
Chamber Member No. : 38187
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Name of Shareholder (s)
· Abdullah Saad
Samer Al Mutairi
· Khaled Saad Samer
Al Mutairi
· Mohamed Saad Samer
Al Mutairi
· Saud Saad Samer Al
Mutairi
OPERATIONS
Activities: Engaged in the import and distribution of general foodstuffs, including
rice, lentils and beans.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 7 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Kuwaiti Dinars (KD)
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales KD
1,115,000 KD
1,375,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
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
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.29 |
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|
1 |
Rs.78.10 |
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Euro |
1 |
Rs.65.59 |
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 |
-- |
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.