MIRA INFORM REPORT

 

 

Report Date :           

27.01.2012

 

IDENTIFICATION DETAILS

 

Name :

CROWN PALACE GENERAL TRADING CO WLL

 

 

Registered Office :

Souk Al Kazmi, Ground Floor, Shop No. 8-C, Mubarakiya, P O Box 97257, Safat

 

 

Country :

Kuwait

 

 

Date of Incorporation :

20.08.2008

 

 

Com. Reg. No.:

328798

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Not Available

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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

 

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                                     : CROWN PALACE GENERAL TRADING CO WLL

Country of Origin                                    : Kuwait

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 20th August 2008

Commercial Registration Number            : 328798

Trade Licence Number                            : 3892/2008

Chamber Membership Number                : 116196

Issued Capital                                        : KD 250,000

Paid up Capital                                      : KD 250,000

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

COMPANY NAME

 

CROWN PALACE GENERAL TRADING CO WLL

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Souk Al Kazmi, Ground Floor, Shop No. 8-C

Area                 : Mubarakiya

PO Box             : 97257

Town                 : Safat

Country             : Kuwait

Telephone         : (965) 22419466

Facsimile          : (965) 22419488 / 22430081

Mobile               : (965) 99085091

 

 

KEY PRINCIPALS

 

     Name                                                          Nationality                               Position

 

·       Ali Hussain Al Qatan                                     Kuwaiti                                      Managing Director

 

·       Hussain Ahmed Al Qatan                               Kuwaiti                                      Director

 

·       Rashid Hussain Nazeer                                 Pakistani                                   Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 20th August 2008

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 328798

 

Trade Licence No.       : 3892/2008

 

Chamber Member No. : 116196 (Expired 07/01/2010)

 

Issued Capital              : KD 250,000

 

Paid up Capital            : KD 250,000

Name of Shareholder (s)

·       Ali Hussain Al Qatan

·       Hussain Ahmed Al Qatan

·       Rashid Hussain Nazeer

 

 

OPERATIONS

 

Activities: Subject’s membership number expired on 7th January 2010 and has not been renewed.

 

 

FINANCIAL DATA

 

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.

 

 

PAYMENT HISTORY

 

Unknown

 

 

GENERAL COMMENTS

 

Please note that subject’s membership number expired on 7th January 2010 and has not been renewed. We have not been able to contact the subject directly during our investigation.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.97

UK Pound

1

Rs.77.74

Euro

1

Rs.65.09

 

 

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%)

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.