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Report Date : |
02.06.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
MAJDI FOOD CENTRE |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
29.01.2001 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Processing and grinding of spices, herbs, dried fruits, pulses
and beans |
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No. of Employees : |
60 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company Name : MAJDI FOOD CENTRE
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 29th January 2001
Trade Licence Number : 213/2005
Chamber Membership Number : 500017
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Total Workforce : 60
Activities : Processing and grinding of spices, herbs, dried fruits, pulses and beans
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Zayad, Financial Manager
MAJDI FOOD CENTRE
Registered &
Physical Address
Location : Kuwait Free Trade Zone, Shuwaikh
Port, Block A&B, Store No. 10
PO Box : 2473
Town : Safat 13020
Country : Kuwait
Telephone : (965) 24610116 / 24610000
Facsimile : (965) 24610116 / 24610000
Mobile : (965) 99088746
Email : info@majdifood.com
Premises
Subject operates
from a medium sized suite of offices, processing plant and a warehouse that are
rented and located in the Industrial Area of Safat.
Name Position
·
Majdi
Khalid Sulaiman Abdo Managing
Director
·
Majed
Majdi Khalid Sulaiman Abdo Director
·
Fattouh
Abdullah Production
Manager
·
Ali
Asghar Makda Sales
Manager
·
Mohamed
Zayad Financial
Manager
Date of Establishment : 29th
January 2001
Legal Form :
With Limited Liability -
WLL
Trade Licence No. : 213/2005
Chamber Member No. : 500017
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Name of Shareholder
(s) Percentage
·
Majdi
Food Co KSCC 100%
Safat
Tel: (965) 22331515
Fax: (965) 22331919
Activities: Engaged
in the import, processing and grinding of spices, herbs, dried fruits, pulses
and beans.
Import
Countries: Europe and the
Far East.
Brand Names: MAJDI
Operating Trend: Steady
Subject has a
workforce of 60 employees.
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 2,310,000 KD 2,580,000
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
company is considered to be a fair trade risk.
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 |
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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 |
|
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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.