MIRA INFORM REPORT

Report Date :

20.07.2012

IDENTIFICATION DETAILS

Name :	AL FAWARASIYA GENERAL TRADING & CONTRACTING EST

Registered Office :	Hamoud Jassim Dabous Building, Mecca Street 307, Fahaheel

Country :	Kuwait

Date of Incorporation :	20.03.1988

Com. Reg. No.:	53759

Legal Form :	Sole Proprietorship

Line of Business :	General traders and contractors and providers of manpower supplies

No. of Employees :	45

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

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 – March 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Kuwait

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SUMMARY

Company Name : AL FAWARASIYA GENERAL TRADING & CONTRACTING EST

Country of Origin : Kuwait

Legal Form : Sole Proprietorship

Registration Date : 20^th March 1988

Commercial Registration Number : 53759

Trade Licence Number : 2591/2006

Chamber Membership Number : 18898

Invested Capital : KD 80,000

Total Workforce : 45

Activities : General traders and contractors and providers of manpower supplies

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

COMPANY NAME

AL FAWARASIYA GENERAL TRADING & CONTRACTING EST

ADDRESS

Registered & Physical Address

Building : Hamoud Jassim Dabous Building

Street : Mecca Street

PO Box : 307

Town : Fahaheel

Country : Kuwait

Telephone : (965) 23918265

Facsimile : (965) 23928406

Mobile : (965) 97862692

Email : info@aftckwt.com

Premises

Subject operates from a medium sized suite of offices and a warehouse that are rented and located in the Central Business Area of Fahaheel.

Branch Office (s)

Location Description

· PO Box: 1440 Office premises

Hawalli 32015

KEY PRINCIPALS

Name Position

· Mrs Sara Assaf Mana Al Doussary Proprietor

· Mana Abdullah Mana Mushekhis General Manager

· Basheer Mohideen Administration Manager

· Mohamed Iqabal Finance Manager

LEGAL FORM & OWNERS

Date of Establishment : 20^th March 1988

Legal Form : Sole Proprietorship

Commercial Reg. No. : 53759

Trade Licence No. : 2591/2006

Chamber Member No. : 18898

Invested Capital : KD 80,000

Mrs Sara Assaf Mana Al Doussary is the sole proprietor of the business.

OPERATIONS

Activities: Engaged as general traders and contractors and providers of manpower supplies.

Import Countries: Europe and the Far East.

Subject has a workforce of 45 employees.

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.

BANKERS

· Commercial Bank of Kuwait SAK

Fahaheel

Tel: (965) 23922776

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

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 business is considered to be a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.38
UK Pound	1	Rs.86.74
Euro	1	Rs.68.06

INFORMATION DETAILS

Report Prepared by :

PDT

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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