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Report Date : |
27.02.2012 |
IDENTIFICATION DETAILS
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Name : |
MAJD FOOD CO KSCC |
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Registered Office : |
Al Shamiya Tower, 14th Floor, Block 13, Building 21 Al Soor
Street Qibla Area PO Box 2473
Safat 13025 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
04.11.2008 |
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Com. Reg. No.: |
327544 |
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Legal Form : |
Kuwaiti Shareholding Company Closed - KSCC |
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Line of Business : |
Distributors of general foodstuffs |
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No. of Employees : |
25 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
Kuwait |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company Name : MAJD FOOD CO KSCC
Country of Origin : Kuwait
Legal Form : Kuwaiti Shareholding Company Closed - KSCC
Registration Date : 4th November 2008
Commercial Registration Number : 327544
Trade Licence Number : 1887/2008
Chamber Membership Number : 116984
Issued Capital : KD 2,000,000
Paid up Capital : KD 2,000,000
Total Workforce : 25
Activities : Distributors of general foodstuffs
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Majid Majdi Khalid Abdo, Director
MAJD FOOD CO KSCC
Building : Al Shamiya Tower,
14th Floor, Block 13, Building 21
Street : Al Soor
Street
Area : Qibla Area
PO Box : 2473
Town : Safat 13025
Country : Kuwait
Telephone : (965) 22331515
/ 22331616 / 223317171 / 22331818
Facsimile : (965) 22331919
Mobile : (965)
67000925
Email : info@majdifood.com
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Safat.
Name Position
· Fahd Salem Al
Knaimesh Chairman
· Hamoud A Al
Dabbous Managing
Director
· Majid Majdi Khalid
Abdo Director
Date of
Establishment : 4th
November 2008
Legal Form : Kuwaiti
Shareholding Company Closed - KSCC
Commercial Reg.
No. : 327544
Trade Licence No. : 1887/2008
Chamber Member No. : 116984
Issued Capital : KD 2,000,000
Paid up Capital : KD 2,000,000
· Al Ritaj
Investment Co 50%
· Majid Majdi Khalid
Abdo 15%
· Majdi Khalid Abdo 15%
· Hani Majdi Khalid
Abdo 10%
· Al Rijat Holding 10%
· Majdi Store Co
Kuwait Free Trade Zone, Block A & B,
Store 10
Shuwaikh
PO Box: 2473
Safat 13025
Tel: (965) 24610116 / 22428965 / 22435083 /
22405012
Fax: (965) 22410730
Activities: Engaged in the import and distribution of general foodstuffs including,
pulses, herbs and spices.
Import Countries: Europe and the Far East.
Agencies Held:
· Al Quraishi
Marketing Co Ltd Saudi
Arabia
· W J Towell &
Co LLC Oman
· Al Zahem &
Malhotra General Trading Co WLL Kuwait
· Arabian Supplies
WLL Qatar
· Federal Foods LLC United
Arab Emirates
Operating Trend: Steady
Subject has a workforce of 25 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
2,115,000 KD
2,370,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Bank of Kuwait & the Middle East KSC
Abdullah Al Salem Street
Darwaza Abdul Razzak
PO Box: 71
Safat 13001
Tel: (965) 2459771
Fax: (965) 2461430
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.06 |
|
|
1 |
Rs.77.19 |
|
Euro |
1 |
Rs.65.57 |
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.