MIRA INFORM REPORT
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Report Date : |
23.02.2012 |
IDENTIFICATION DETAILS
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Name : |
PETRA FOOD MANUFACTURING CO WLL |
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Registered Office : |
Building No. 24, Block
No. 7, Street No. 103, Sabhan Industrial Area, P O Box 3331, Safat 13034 |
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Country : |
Kuwait |
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Date of Incorporation : |
23.06.1994 |
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Com. Reg. No.: |
116044 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Manufacturers of general foodstuffs |
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No. of Employees
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400 |
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$ 250,000 |
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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 |
Company Name : PETRA FOOD MANUFACTURING CO WLL
Also Known As : PETRA FOOD INDUSTRIES CO
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 23rd June 1994
Commercial Registration Number : 116044
Trade Licence Number : 10319
Chamber Membership Number : 1829
Issued Capital : KD 2,500,000
Paid up Capital : KD 2,500,000
Total Workforce : 400
Activities : Manufacturers of general foodstuffs.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 250,000
PETRA FOOD
MANUFACTURING CO WLL
PETRA FOOD INDUSTRIES CO
Registered &
Physical Address
Building : Building No. 24, Block No. 7
Street : Street No. 103
Area : Sabhan Industrial Area
PO Box : 3331
Town : Safat 13034
Country : Kuwait
Telephone : (965) 24712818 / 24712817 / 24733362
/ 1802280
Facsimile : (965) 24745978 / 24815588
Email : siddique@petrafood.com / petra@qualitynet.net
Premises
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of Safat.
Branch Office
(s)
Location Description
·
Building
No. 101, Block A Showroom
premises
Shuwaikh Industrial Area
Safat
Tel: (965) 24815540 / 24815541
Fax: (965) 24815588
Name Position
·
Zahem Abdulaziz
Al Zahem Managing
Director
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Osman
Zahem Abdulaziz Al Zahem Director
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Magidah
Zahem Abdulaziz Al Zahem Director
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Mona
Zahem Abdulaziz Al Zahem Director
Date of Establishment : 23rd
June 1994
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 116044
Trade Licence No. : 10319
Chamber Member No. : 1829
Issued Capital : KD 2,500,000
Paid up Capital : KD 2,500,000
Name of Shareholder
(s)
·
Zahem
Abdulaziz Al Zahem
·
Osman
Zahem Abdulaziz Al Zahem
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Magidah
Zahem Abdulaziz Al Zahem
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Mona
Zahem Abdulaziz Al Zahem
Activities: Engaged in the manufacture of general
foodstuffs, including fruit juice, dairy products and cakes.
Import
Countries: Europe and the
Far East.
Brand Names: PETRA and ALWAFRA
Subject has a
workforce of approximately 400 employees.
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.
·
Kuwait
Finance House (KFH)
Safat Square
Abdullah Al Mubarak Street
PO Box: 24989
Safat 13110
Tel: (965) 22445050
Fax: (965) 22455135
No complaints
regarding subject’s payments have been reported.
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.49.25 |
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UK Pound |
1 |
Rs.76.75 |
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Euro |
1 |
Rs.65.16 |
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.