MIRA INFORM REPORT

 

 

Report Date :

02.06.2012

 

IDENTIFICATION DETAILS

 

Name :

INTEGRATED MEDICAL SERVICES CO LTD

 

 

Registered Office :

Aliya Complex 8th & 9th Floor, Street No. 10, Al Othman Street, Hawally Area, Bayan 43755, P O Box 66482, Hawally

 

 

Country :

Kuwait

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

20.04.1993

 

 

Com. Reg. No.:

49618

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Distribution of hospital supplies, medical disposables and medical printer & imaging equipment.

 

 

No. of Employees :

55

 

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                                     : INTEGRATED MEDICAL SERVICES CO LTD

Country of Origin                                    : Kuwait

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 20th April 1993

Commercial Registration Number            : 49618

Trade Licence Number                            : 105/93

Chamber Membership Number                : 35208

Issued Capital                                        : KD 50,000

Paid up Capital                                      : KD 50,000

Total Workforce                                     : 55

Activities                                               : Distribution of hospital supplies, medical disposables and medical

printer & imaging equipment.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

COMPANY NAME

 

INTEGRATED MEDICAL SERVICES CO LTD

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Aliya Complex 8th & 9th Floor

Street               : Street No. 10, Al Othman Street

Area                 : Hawally Area, Bayan 43755

PO Box             : 66482

Town                 : Hawally

Country             : Kuwait

Telephone         : (965) 22666693 / 22658554/6/7

Facsimile          : (965) 22658553

Email                : priya@ims.com.kw

 

Premises

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

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Block No. 2 Building No. 800100, Office No.146,148                             Sales office

Sulaibiya Industrial Area

Tel: (965) 24674318

Fax: (965) 24674319

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

·       Sand Rashad Sand Al Fadalah                                                           Managing Director

·       Khalid Sand Rashad Sand Al Fadalah                                                 Director

·       Rashad Sand Rashad Sand Al Fadalah                                               Director

·       Anil A K Nair                                                                                     Administration Manager

·       Ahmed Bassam                                                                                Financial Manager

·       Samson Jackmol                                                                              Sales Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 20th April 1993

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 49618

 

Trade Licence No.       : 105/93 (Expires 04/06/2013)

 

Chamber Member No. : 35208

 

Issued Capital              : KD 50,000

 

Paid up Capital            : KD 50,000

 

Name of Shareholder (s)                                             

·       Sand Rashad Sand Al Fadalah                                                          

·       Khalid Sand Rashad Sand Al Fadalah                                    

·       Rashad Sand Rashad Sand Al Fadalah

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of hospital supplies, medical disposables and medical printer &

     imaging equipment.

 

Import Countries: Malaysia, Germany, Turkey, China, India, Korea, Italy, Taiwan and Canada

 

International Suppliers:

 

·       Heinz Herence                                  Germany

·       Ceracarta                                         Italy

·       Sturdy Industries                               Taiwan

·       Latex Manufactruing SDN                  Malaysia

·       BL Life Sciences                               India

·       Honsun Industries                             China

·       Herman Medizintechnik                     Germany

·       Betasan Bant San Vetic A S              Turkey

·       Primus Gloves Pvt Ltd                       India

·       Youngil M co Ltd                               Korea

·       Shanghai Lord International Trade       China

·       Sewoon Medical Co                           Korea

·       Sumbo Medical Co                            China

·       Cardiomed                                        Canada

·       Repes srl                                          Italy

·       Ain Medical Sdn Bhd                         Malaysia

 

Operating Trend: Steady

 

Subject has a workforce of 55 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 2,750,000                            KD 3,300,000

 

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

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       National Bank of Kuwait SAK

Hawalli

Tel: (965) 2653303 / 2645964

Fax: (965) 2611366

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk and the above credit figure is considered to be within subject’s financial means.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.92

UK Pound

1

Rs.86.03

Euro

1

Rs.69.13

 

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%)

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.