MIRA INFORM REPORT
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Report Date : |
27.02.2012 |
IDENTIFICATION DETAILS
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Name : |
ALKUWAITIYA ALWATANIA CARPET & FURNITURE
CO WLL |
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Registered Office : |
Aldajej Twinesz Complex,
Ground Floor, Shop No. 18, Farwaniya |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
07.10.2009 |
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Com. Reg. No.: |
332650 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Wholesale and retail of dried foodstuffs |
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No. of Employees
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15 |
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 |
Company Name : ALKUWAITIYA ALWATANIA CARPET & FURNITURE CO WLL
Also Known As : KUWAIT NATIONAL FURNITURE & FURNISHING CO WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 7th October 2009
Commercial Registration Number : 332650
Trade Licence Number : 2100/2009
Chamber Membership Number : 120923
Issued Capital : KD 88,000
Paid up Capital : KD 88,000
Total Workforce : 15
Activities : Wholesale and retail of dried foodstuffs
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Mashan Abdullah Al Shamri, General Manager
ALKUWAITIYA ALWATANIA CARPET & FURNITURE
CO WLL
KUWAIT NATIONAL FURNITURE & FURNISHING CO WLL
Registered &
Physical Address
Location : Aldajej Twinesz Complex, Ground
Floor, Shop No. 18
Town : Farwaniya
Country : Kuwait
Telephone : (965) 24332636
Facsimile : (965) 24332636
Mobile : (965) 99493325 / 9330333
Email : meshab70@yahoo.com
Premises
Subject operates from
a small suite of offices and a shop that are rented and located in the Central
Business Area of Farwaniya.
Name Position
·
Ahmed
Ougla Meran Al Onaizi Managing
Director
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Othman
Ahmed Ougla Meran Al Onaizi Director
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Rawan
Ahmed Ougla Meran Al Onaizi Director
·
Maryam
Ahmed Ougla Meran Al Onaizi Director
·
Lulula
Ahmed Ougla Meran Al Onaizi Director
·
Nourah
Samah Fahd Al Shamari Director
·
Mashan
Abdullah Al Shamri General
Manager
Date of Establishment : 7th
October 2009
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 332650
Trade Licence No. :
2100/2009
Chamber Member No. : 120923
Issued Capital : KD 88,000
Paid up Capital : KD 88,000
Name of Shareholder
(s)
·
Ahmed
Ougla Meran Al Onaizi
·
Othman
Ahmed Ougla Meran Al Onaizi
·
Rawan
Ahmed Ougla Meran Al Onaizi
·
Maryam
Ahmed Ougla Meran Al Onaizi
·
Lulula
Ahmed Ougla Meran Al Onaizi
·
Nourah
Samah Fahd Al Shamari
Activities: Engaged in the wholesale and retail of
dried foodstuffs including, pulses, herbs and spices.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 15 employees.
Financial
highlights provided by local sources are given below:
Currency: Kuwaiti
Dinars (KD)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales KD 730,000 KD 1,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local 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.
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 |
|
US Dollar |
1 |
Rs.49.07 |
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UK Pound |
1 |
Rs.77.19 |
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Euro |
1 |
Rs.65.57 |
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.