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Report Date : |
25.05.2012 |
IDENTIFICATION DETAILS
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Name : |
AL ASHRAFIYA INTERNATIONAL CO FOR FOODSTUFF
WLL |
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Registered Office : |
Al Wazzan Group
Building, Al Jahra Street, Block 51, Shuwaikh Industrial Area , P O
Box 818 & 26555, Safat 13126 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
11.10.2006 |
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Com. Reg. No.: |
106355 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Distributors of general foodstuff products |
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No. of Employees : |
75 |
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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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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 : AL ASHRAFIYA INTERNATIONAL CO FOR FOODSTUFF WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 11th October 2006
Commercial Registration Number : 106355
Trade Licence Number : 1142/2005
Chamber Membership Number : 104497
Issued Capital : KD 500,000
Paid up Capital : KD 500,000
Total Workforce : 75
Activities : Distributors of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
AL ASHRAFIYA INTERNATIONAL CO FOR FOODSTUFF WLL
Registered &
Physical Address
Building : Al Wazzan Group Building
Street : Al Jahra Street, Block 51
Area : Shuwaikh Industrial Area
PO Box : 818 & 26555
Town : Safat 13126
Country : Kuwait
Telephone : (965) 22422422 / 24817410 / 24817477
Facsimile : (965) 22447444 / 24817403
Mobile : (965) 97210723
Email : info@alashrafiya.com / mohamadchaar@alashrafiya.com / s.nambiar@alashrafiya.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Industrial Area of Safat.
Name Position
·
Hamad Mohamed Abdulaziz Al Wazzan Managing
Director
·
Zari Hamad Mohamed Abdulaziz Al Wazzan Director
·
Mohamed M Badarani General
Manager
·
Mohamad
Chaar Procurement
Manager
·
Amer
Ali Finance
Manager
·
Sheetal
Nambiar Operations
Manager
·
Ryes
Mohamed Commercial
Manager
·
Ayman
Hussain Administration
Manager
Date of Establishment : 11th
October 2006
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 106355
Trade Licence No. : 1142/2005
Chamber Member No. : 104497
Issued Capital : KD 500,000
Paid up Capital : KD 500,000
Name of
Shareholder (s)
·
Hamad Mohamed Abdulaziz Al Wazzan
·
Zari Hamad Mohamed Abdulaziz Al Wazzan
·
Hamad
Mohamed Al Wazzan General Trading & Contracting
Safat
·
Al Jefa
Security Services Co
Safat
·
Pan
Arab General Trading & Contracting
Safat
Activities: Engaged in the import and distribution of
general foodstuff products, specialising in seafood.
Import
Countries: Europe and the
Far East.
International
Suppliers:
·
Medmar United States of
America
·
Nestle Switzerland
·
Highland
Smoked Salmon United Kingdom
·
Pilgrim
Cheese United Kingdom
Brand Names: AL ASHRAFIYA and VICTORIA DELLA
Operating Trend: Steady
Subject has a
workforce of 75 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 1,880,000 KD 2,100,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Bank of Kuwait SAK
Ali Awadi Tower
Ahmed Al Jaber Street
PO Box: 95
Safat 13001
Tel: (965) 23981188 / 23981189
Fax: (965) 23985643
·
Burgan
Bank
Shuwaikh
PO Box: 5389
Safat 13054
Tel: (965) 24830433
Fax: (965) 24830690
No complaints regarding
subject’s payments have been reported.
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.56.29 |
|
UK Pound |
1 |
Rs.88.26 |
|
Euro |
1 |
Rs.70.82 |
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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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.