MIRA INFORM REPORT

 

 

Report Date :

26.07.2012

 

IDENTIFICATION DETAILS

 

Name :

NATIONAL MEDICAL & CATERING SUPPLIES CO KSCC

 

 

Registered Office :

Sabhan Industrial Area, Block 11, Plot 1 & 3 PO Box 44369 Hawalli 32058

 

 

Country :

Kuwait

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

06.03.1989

 

 

Com. Reg. No.:

9027, Safat

 

 

Legal Form :

Kuwaiti Shareholding Company Closed - KSCC

 

 

Line of Business :

Subject Operates Several Divisions like Medical Division, Catering Division, Cleaning Materials Division

 

 

No. of Employees :

150

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

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 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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                         : NATIONAL MEDICAL & CATERING SUPPLIES CO KSCC

Country of Origin                                    : Kuwait

Legal Form                                            : Kuwaiti Shareholding Company Closed - KSCC

Registration Date                                   : 6th March 1989

Commercial Registration Number            : 9027, Safat

Trade Licence Number                            : 1079/2005

Chamber Membership Number                : 21276

Issued Capital                                        : KD 3,500,000

Paid up Capital                                      : KD 3,500,000

Total Workforce                                     : 150

Activities                                               : Subject operates several divisions (see below for details)

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Person Interviewed                                 : Anwar Ali, Finance Manager

 

COMPANY NAME

 

NATIONAL MEDICAL & CATERING SUPPLIES CO KSCC

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Sabhan Industrial Area, Block 11, Plot 1 & 3

 

PO Box             : 44369

 

Town                 : Hawalli 32058

Country             : Kuwait

 

Telephone         : (965) 24747875

Facsimile          : (965) 24726430

Email                : info@nmcs.com.kw / natmed@nmcs.com.kw

 

Premises

 

Subject operates from a medium sized suite of offices, a warehouse and catering facilities that are owned and located in the Industrial Area of Hawalli.

 

Branch Offices

 

     Location                                                                                           Description

 

·       Plot 1386 / 1387 / 1505 / 1767, Street 25                                            Showroom and storage facilities

Al Rai Industrial Area

Hawalli

Tel: (965) 24747876 / 24726427

Fax: (965) 25342329

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Mohamed Abdullah Al Sarraf                                                              Managing Director

 

·       Ahmed Abdullah Al Sarraf                                                                  Director

 

·       Hisham Issa Al Sultan                                                                       Director

 

·       Moez Ali Saddiq Ali                                                                           Director

 

·       Ajit Parasad                                                                                      Commercial Manager

 

·       Anwar Ali                                                                                          Finance Manager

 

·       Nabil Butros Murkos                                                                          Public Relations Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 6th March 1989

 

Legal Form                  : Kuwaiti Shareholding Company Closed - KSCC

 

Commercial Reg. No.  : 9027, Safat

 

Trade Licence No.       : 1079/2005

 

Chamber Member No. : 21276

 

Issued Capital              : KD 3,500,000

 

Paid up Capital            : KD 3,500,000

 

Name of Shareholder (s)

 

·       Mohamed Abdullah Al Sarraf 

 

·       Ahmed Abdullah Al Sarraf

 

·       Hisham Issa Al Sultan

 

·       Moez Ali Saddiq Ali

 

 

AFFILIATED COMPANIES

 

·       United Factory for Metal Lathing Workshop

PO Box: 44369

Hawalli 32058

Tel: (965) 24839768

Fax: (965) 24726430

 

OPERATIONS

 

Activities: Subject’s operations are performed by the following divisions:

 

·       Medical Division

 

Distributors of medical supplies, pharmaceuticals, disposable medicine, laboratory equipment and surgical instruments.

 

·       Catering Division

 

     This division is engaged in the provision of catering services for hospitals, public institutions and hotels.

 

·       Cleaning Materials Division

 

     Engaged in the import and distribution of cleaning agents, tools, dispensers and hygienic paper products.

 

Import Countries: Switzerland, the United Kingdom and the United States of America

 

Operating Trend: Steady

 

Subject has a workforce of approximately 150 employees.

 

 

FINANCIAL DATA

 

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 6,864,000                            KD 7,456,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above figures were provided by Mr Anwar Ali, Finance Manager

 

 

BANKERS

 

·       National Bank of Kuwait SAK

Main Branch

Hawalli

Tel: (965) 22653303

Fax: (965) 22611366

 

·       Commercial Bank of Kuwait SAK

     Mubarak Al Kabir Street

     PO Box: 2861

     Safat 13029

     Tel: (965) 22411001

     Fax: (965) 22450150

 

·       The Gulf Bank KSC

Mubarak Al Kabir Street

PO Box: 3200

Safat 13033

Tel: (965) 22449501

Fax: (965) 22445212

 

 

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 company is considered to be a fair trade risk.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.37

UK Pound

1

Rs.87.44

Euro

1

Rs.68.04

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.