|
Report Date : |
31.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
KUWAIT COAST ESTABLISHMENT |
|
|
|
|
Registered Office : |
4 Saqr Complex, 4th
Floor, Office No. 6, Tunis Street, Hawalli, P O Box 27819, Hawalli, Safat
13139 |
|
|
|
|
Country : |
Kuwait |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
15.09.1987 |
|
|
|
|
Com. Reg. No.: |
83780 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Wholesalers and retailers of automotive paints, oilfield speciality chemicals abrasives and related accessories |
|
|
|
|
No. of Employees : |
12 |
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 |
Company Name : KUWAIT COAST ESTABLISHMENT
Country of Origin : Kuwait
Legal Form : Sole Proprietorship
Registration Date : 15th September 1987
Commercial Registration Number : 83780
Trade Licence Number : 751/2001
Chamber Membership Number : 12139
Invested Capital : KD 50,000
Total Workforce : 12
Activities : Wholesalers and retailers of automotive paints, oilfield speciality
chemicals abrasives and related accessories
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
KUWAIT COAST
ESTABLISHMENT
Registered &
Physical Address
Building : 4 Saqr Complex, 4th
Floor, Office No. 6
Street : Tunis Street
Area : Hawalli
PO Box : 27819, Hawalli
Town : Safat 13139
Country : Kuwait
Telephone : (965) 22628245 / 22628153
Facsimile : (965) 22628245
Mobile : (965) 97905140
Email : asker@kce-kwt.com / asken@kcc.kwt.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Safat.
Name Position
·
Ms
Aysha Mohamed Hassan Salem Proprietor
·
Ali
Abdullah Saeed Al Qatan General Manager
·
Asker
Ali Sales
Manager
Date of Establishment : 15th
September 1987
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 83780
Trade Licence No. : 751/2001
Chamber Member No. : 12139
Invested Capital
: KD 50,000
Ms Aysha Mohamed
Hassan Salem is the sole proprietor of the business.
Activities: Engaged in the wholesale and retail of
automotive paints, oilfield speciality chemicals, abrasives and
related accessories.
Import
Countries: Netherlands.
International
Suppliers:
·
Dina
Coat Netherlands
Operating Trend: Steady
Subject has a
workforce of 12 employees.
Financial
highlights provided by local sources are given below:
Currency: Kuwaiti
Dinar (KD)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales KD 1,020,000 KD 1,100,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Commercial
Bank of Kuwait SAK
Mubarak Al Kabir Street
PO Box: 2861
Safat 13029
Tel: (965) 22411001
Fax: (965) 22450150
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.44 |
|
UK Pound |
1 |
Rs.87.12 |
|
Euro |
1 |
Rs.68.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.