MIRA INFORM REPORT

 

 

Report Date :

28.06.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

MMC CATERING CO KSCC

 

 

Registered Office :

Gulf Road, P O Box 4618, Safat 13047

 

 

Country :

Kuwait

 

 

Date of Incorporation :

19.08.1995

 

 

Com. Reg. No.:

62029

 

 

Legal Form :

Kuwaiti Shareholding Company Closed 

 

 

Line of Business :

Operators of owned restaurants and cafes

 

 

No. of Employees :

450

 

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                                     : MMC CATERING CO KSCC

Also Known As                                      : MMC KUWAIT

Country of Origin                                    : Kuwait

Legal Form                                            : Kuwaiti Shareholding Company Closed  - KSCC

Registration Date                                   : 19th August 1995

Commercial Registration Number            : 62029

Trade Licence Number                            : 1014/2005

Chamber Membership Number                : 46877

Issued Capital                                        : KD 500,000

Paid up Capital                                      : KD 500,000

Total Workforce                                     : 450

Activities                                               : Operators of owned restaurants and cafes

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Person Interviewed                                 : Osama Al Mufti, Human Resources Manager

 

 

 

COMPANY NAME

 

MMC CATERING CO KSCC

 

 

ALSO KNOWN AS

 

MMC KUWAIT

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Gulf Road

PO Box             : 4618

Town                 : Safat 13047

Country             : Kuwait

Telephone         : (965) 1805050

Facsimile          : (965) 22440555

Email                : hr@mmkuwait.com / mmc@mmckuwait.com

 

Premises

Subject operates from a large suite of offices that are owned and located in the Central Business Area of Safat.

 

 

KEY PRINCIPALS

 

     Name                                                                                  Position

 

·       Mushari Abdullah Mushari Al Radwan                                     Chairman         

 

·       Azzam Abdullah Mushari Al Radwan                                       Managing Director

 

·       Alexander Bitas                                                                    General Manager

 

·       Osama Al Mufti                                                                     Human Resources Manager                                                                          

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 19th August 1995

 

Legal Form                  : Kuwaiti Shareholding Company Closed - KSCC

 

Commercial Reg. No.  : 62029

 

Trade Licence No.       : 1014/2005

 

Chamber Member No. : 46877

 

Issued Capital              : KD 500,000

 

Paid up Capital            : KD 500,000

 

Name of Shareholder (s)                                             

·       Mushari Abdullah Mushari Al Radwan                                    

·       Azzam Abdullah Mushari Al Radwan

·       Family members of Mr Mushari Abdullah Mushari Al Radwan and Mr Azzam Abdullah Mushari Al Radwan

 

 

OPERATIONS

 

Activities: Engaged in the operation of owned restaurants and cafes:

 

     Lenotre Restaurant & Cafe: Operates as fine dining restaurants and cafes.

     Rice International: Operates as an international rice restaurant.

     Grimson Restaurant: Operates fine dining restaurants with Persian style food.

     Swah Restaurant: Operates fine dining Lebanese food restaurants.

     Meem Cafe: Operates as light snacks and coffee shop.

 

Import Countries: Europe and the Far East.

 

Subject has a workforce of approximately 450 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

     Mubarak Al Kabir Street

     PO Box: 2861

     Safat 13029

     Tel: (965) 22411001

     Fax: (965) 22450150

 

 

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.57.22

UK Pound

1

Rs.89.42

Euro

1

Rs.71.46

 

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.