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Report Date : |
28.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
FOODYS
INTERNATIONAL CO WLL |
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Registered Office : |
Building No. 156,
1st Floor, Block No. 1, Street No. 1, Ardiya Industrial Area,
26332, Safat 13124 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
20.04.2009 |
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Com. Reg. No.: |
325666 |
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Legal Form : |
With Limited
Liability - WLL |
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Line of Business : |
Distributors of general
foodstuffs |
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No. of Employees : |
35 |
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 |
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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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Name : FOODYS INTERNATIONAL CO WLL
Country of Origin : Kuwait
Legal Form : With
Limited Liability - WLL
Registration Date : 20th
April 2009
Commercial
Registration Number : 325666
Trade Licence
Number :
496/2008
Chamber Membership
Number : 119115
Issued Capital : KD
150,000
Paid up Capital : KD
150,000
Total Workforce :
35
Activities :
Distributors of general foodstuffs.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Person Interviewed : Jay Patel,
Administration Manager
FOODYS
INTERNATIONAL CO WLL
Location : Building No. 156, 1st
Floor, Block No. 1, Street No. 1
Area : Ardiya Industrial Area
PO Box : 26332
Town : Safat 13124
Country : Kuwait
Telephone : (965) 24311119
Facsimile : (965) 24336246
Email : foodys@foodysfood.com / zakproteins@gmail.com
Subject operates
from a medium sized suite of offices that are rented and located in the
Industrial Area of Safat.
Name Position
·
Fouzan
Saud Abdulaziz Al Fouzan Managing
Director
·
Saud
Fouzan Saud Abdulaziz Al Fouzan Director
·
Zakaria
Farghal General
Manager
·
Mohamed
Ormair Financial
Manager
·
Jay
Patel Administration
Manager
Date of Establishment : 20th
April 2009
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 325666
Trade Licence No. : 496/2008
Chamber Member No. : 119115
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
·
Fouzan
Saud Abdulaziz Al Fouzan
·
Saud
Fouzan Saud Abdulaziz Al Fouzan
·
Sadita
Holding KSC(C)
Safat
·
Kuwait
Protein Co WLL
Safat
Activities: Engaged in the import and distribution of
general foodstuffs, including canned fruits and vegetables, oil,
cheese, pasta, vinegar and table sauces.
Import
Countries: Europe and the
Far East
Brand Names: MATERNA, AL JAMAL CEYLON TEA, BOOZZ, BOULOS,
VANOISE, NIGHT ORIENT, GOLDEN
MIE, MAGIC BEN 10, VANDAMM HALAL
MARSHMALLOWS, SICAM TOMATOES, HARISSA,
GOLDINA
Subject has a
workforce of 35 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 1,100,000 KD 1,375,000
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.55.73 |
|
|
1 |
Rs.87.26 |
|
Euro |
1 |
Rs.69.84 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.