MIRA
INFORM REPORT
|
Report Date : |
13.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
KUWAITINA CO FOR COMMERCIAL & INDUSTRIAL WLL |
|
|
|
|
Registered Office : |
Ardiya Industrial Area PO Box 827 Ardiya 92400 |
|
|
|
|
Country : |
Kuwait |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Year of Establishment : |
1987 |
|
|
|
|
Com. Reg. No.: |
327833 |
|
|
|
|
Legal Form : |
With Limited Liability – WLL |
|
|
|
|
Line of Business : |
Distributors of household aluminium foil rolls, PVC cling film, cooking bags and dustbins. |
|
|
|
|
No. of Employees : |
20 |
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$ 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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 : KUWAITINA CO FOR COMMERCIAL & INDUSTRIAL WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability – WLL
Start Date : 1987
Registration Date : 8th August 1991
Commercial Registration Number : 327833
Trade Licence Number : 2792/2008
Chamber Membership Number : 23478
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
Total Workforce : 20
Activities : Distributors of household aluminium foil rolls, PVC cling film, cooking bags and dustbins.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
KUWAITINA CO FOR COMMERCIAL & INDUSTRIAL WLL
ADDRESS
Registered & Physical Address
Location : Ardiya
Industrial Area
PO Box : 827
Town : Ardiya 92400
Country : Kuwait
Telephone : (965) 24334600
/ 24334700 / 66552006
Facsimile : (965) 22433513
/ 24335139
Mobile : (965)
99313892
Email : info@kuwaitina.com
Premises
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Industrial Area of Ardiya.
KEY PRINCIPALS
Name Position
· Abdullah Abdulaziz
Al Nasarallah Managing
Director
· Fahd Abdulaziz Al
Abdullah Al Nasarallah Director
· Latifa Abdulaziz
Fahd Al Halban Director
· Majid Rizq Financial
Manager
· Ashraf Kuroth Purchasing
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1987, however subject
was registered on 8th August 1991
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 327833
Trade Licence No. : 2792/2008
Chamber Member No. : 23478
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
Name of Shareholder (s)
· Abdullah Abdulaziz
Al Nasarallah
· Fahd Abdulaziz Al
Abdullah Al Nasarallah
· Latifa Abdulaziz
Fahd Al Halban
AFFILIATED COMPANIES
· Quality Pack Co
for Commercial & Industrial WLL
Ardiya
Tel: (965)
24334600 / 24334700
OPERATIONS
Activities: Engaged in the import and distribution of household aluminium foil
rolls, PVC cling film, cooking bags and dustbins.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 20 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
2,110,000 KD
2,350,000
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
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.49.64 |
|
|
1 |
Rs.78.35 |
|
Euro |
1 |
Rs.65.79 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.