MIRA INFORM REPORT

 

 

Report No. :

340993

Report Date :

19.09.2015

           

IDENTIFICATION DETAILS

 

Name :

AL EMARA TRADING & CONTRACTING CO WLL

 

 

Registered Office :

Al Sour Tower Al Sour Street 3675 Safat 13037

 

 

Country :

Kuwait

 

 

Date of Incorporation :

09.02.1994

 

 

Com. Reg. No.:

55088

 

 

Legal Form :

With Limited Liability - WLL

 

 

Line of Business :

Subject is engaged in the import and distribution of hospital and medical supplies, such as ophthalmic instruments, IVF equipment, cardiology, radiology, and urology apparatus and equipment.

 

 

No. of Employee :

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

 

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 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Kuwait

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

SUMMARY

 

Company Name                                    : AL EMARA TRADING & CONTRACTING CO WLL

Country of Origin                                   : Kuwait

Legal Form                                           : With Limited Liability - WLL

Registration Date                                  : 9th February 1994

Commercial Registration Number           : 55088

Chamber Membership Number               : 40377

Issued Capital                                       : KD 250,000

Paid up Capital                                     : KD 250,000

Total Workforce                                     : 35

Activities                                               : Distributors of hospital and medical supplies

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

 

 

COMPANY NAME

 

AL EMARA TRADING & CONTRACTING CO WLL

 

 

ADDRESS

 

Registered & Physical Address

 

Building            : Al Sour Tower

Street               : Al Sour Street

 

PO Box            : 3675

 

Town                : Safat 13037

Country             : Kuwait

 

Telephone         : (965) 22915211 / 22404721 / 22404722

Facsimile          : (965) 22915212 / 22404725 / 26410603

Email                : info@al-emaragroup.com

 

Premises

 

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

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Yaqoub Saleh Yaqoub Al Sarhan                                                      Managing Director

 

·       Yousef Yaqoub Saleh Yaqoub Al Sarhan                                           Director

 

·       Shouq Yaqoub  Saleh Yaqoub  Al Sarhan                                          Director

 

·       Aysha Yaqoub  Saleh Yaqoub  Al Sarhan                                          Director

 

·       Nour Yaqoub  Saleh Yaqoub  Al Sarhan                                            Director

 

·       Ghala Yaqoub  Saleh Yaqoub  Al Sarhan                                           Director

 

·       Nedal Mohamed Yonas Al Yaseen                                                     Director

 

·       Korean Chandy                                                                                 Financial Manager

 

·       P V Menon                                                                                       Commercial Manager

 

·       Kafaa Al Sayegh                                                                              Administration Executive

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 9th February 1994

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.   : 55088

 

Chamber Member No.  : 40377

 

Issued Capital              : KD 250,000

 

Paid up Capital            : KD 250,000

 

Name of Shareholder (s)

 

·       Yaqoub Saleh Yaqoub Al Sarhan                                                     

 

·       Yousef Yaqoub Saleh Yaqoub Al Sarhan                                          

 

·       Shouq Yaqoub  Saleh Yaqoub  Al Sarhan                                         

 

·       Aysha Yaqoub  Saleh Yaqoub  Al Sarhan                                         

 

·       Nour Yaqoub  Saleh Yaqoub  Al Sarhan                                           

 

·       Ghala Yaqoub  Saleh Yaqoub  Al Sarhan                                          

 

·       Nedal Mohamed Yonas Al Yaseen

 

OPERATIONS

 

Activities: Engaged in the import and distribution of hospital and medical supplies, such as ophthalmic instruments,

      IVF equipment, cardiology, radiology, and urology apparatus and equipment.

 

Subject also provides installation and maintenance services.

 

Import Countries: United States of America, Sweden, Germany, France, United Kingdom, Australia and China

 

International Suppliers:

 

·       Merit Medical                                                United States of America

·       Novoste Corporation                                    United States of America

·       Abbott Vascular                                           United States of America

·       Nidacon International AB                               Sweden

·       Vitrolife AB                                                  Sweden

·       Comepa                                                       France

·       Casmed Group                                             United Kingdom

·       Medical Technology Vertriebs GmbH             Germany

·       GEM                                                            Italy

·       IM Services                                                  Netherlands

·       Laboratoire CCD                                           France

·       Volcano                                                       Europe

·       Maquet                                                        United States of America

·       Allengers Medical Systems Ltd                     India

·       ACIST Medical Systems                                United States of America

·       Spectranetics                                               United States of America

·       The Pipette Company                                   Australia

·       Dynamic Techno Medicals                            India

·       PLC Medical                                                 United States of America

 

Operating Trend: Steady

 

Subject has a workforce of 35 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Kuwaiti Dinars (KD)

 

                                                Year Ending 31/12/13:               Year Ending 31/12/14:

 

Total Sales                                KD 3,100,000                            KD 3,220,000

 

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

 

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

 

 

BANKERS

 

·       The Gulf Bank KSC

Mubarak Al Kabir Street

PO Box: 3200

Safat 13033

Tel: (965) 22449501

Fax: (965) 22445212

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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.65.92

UK Pound

1

Rs.102.75

Euro

1

Rs.75.13

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

ANK

 

 

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.