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MIRA INFORM REPORT
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Report No. : |
483457 |
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Report Date : |
05.01.2018 |
IDENTIFICATION DETAILS
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Name : |
FLYING COLORS
GENERAL TRADING COMPANY |
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Registered Office : |
Souq Al Safat, Shop
No. 3138, Commercial No. 9, Murgab, Safat, Kuwait |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
25.05.1999 |
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Com. Reg. No.: |
77094 |
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Legal Form : |
General
Partnership |
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Line of Business : |
Subject is
engaged in the wholesale and retail of textiles and readymade garments |
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No. of Employees : |
8 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Kuwait |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
KUWAIT - ECONOMIC OVERVIEW
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Source
: CIA |
SUMMARY
Company Name : FLYING
COLORS GENERAL TRADING COMPANY
Country of Origin : Kuwait
Legal Form :
General Partnership
Registration Date : 25th
May 1999
Commercial Registration
Number : 77094
Chamber Membership
Number : 58955
Partners Capital : KD 50,000
Total Workforce :
8
Activities :
Wholesale and retail of textiles and readymade garments
Financial Condition : Fair
Payments : No Complaints
Operating Trend : Steady
COMPANY
NAME
FLYING COLORS GENERAL TRADING COMPANY
ADDRESS
Registered & Physical
Address
Location : Souq Al Safat, Shop No. 3138,
Commercial No. 9, Murgab
Town : Safat
Country : Kuwait
Telephone : (965) 22455683 / 22553030
Facsimile : (965) 22455683
Mobile : (965) 99707403 / 97460646
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Safat.
KEY
PRINCIPALS
Name Position
·
Bader Abdul
Wahid Mahmoud Qassem Managing
Partner
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Ismail
Abdul Wahid Qassem Partner
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Abdul
Rahaman Fard Sales
Manager
LEGAL
FORM & OWNERS
Date of Establishment : 25th
May 1999
Legal Form :
General Partnership
Commercial Reg. No. : 77094
Chamber Member No. : 58955
Partners Capital : KD 50,000
Name of
Partners (s)
·
Bader
Abdul Wahid Mahmoud Qassem
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Ismail
Abdul Wahid Qassem
OPERATIONS
Activities: Engaged in the wholesale and retail of
textiles and readymade garments.
Import
Countries: India and China
Operating Trend: Steady
Subject has a
workforce of 8 employees.
FINANCIAL
DATA
Financial
highlights provided by local sources are given below:
Currency: Kuwaiti
Dinars (KD)
Year
Ending 31/12/15: Year Ending
31/12/16:
Total sales KD 930,000 KD 1,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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Commercial
Bank of Kuwait
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
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 business is
considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.39 |
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1 |
INR 85.74 |
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Euro |
1 |
INR 76.25 |
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KWD |
1 |
INR 210.26 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on secured
terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.