MIRA
INFORM REPORT
|
Report Date : |
18.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ARABI COMPANY WLL |
|
|
|
|
Registered Office : |
Block J, Plot
175/176, 4th Ring Road, Behind National Showroom, Shuwaikh
Industrial Area, PO Box 4090, Safat 13041 |
|
|
|
|
Country : |
Kuwait |
|
|
|
|
Date of Incorporation : |
20.04.1963 |
|
|
|
|
Com. Reg. No.: |
9333, Safat |
|
|
|
|
Legal Form : |
With Limited Liability - WLL |
|
|
|
|
Line of Business : |
Subject’s operations are performed through the following divisions: Water Equipment
Division, Fire Fighting Division, Building Systems Division, Landscaping & Irrigation Division,
Oil, Petrochemical and Energy
Division, Technical Services
Division |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
US$ 1,500,000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : ARABI COMPANY WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 20th April 1963
Commercial Registration Number : 9333, Safat
Chamber Membership Number : 1172
Issued Capital : KD 500,000
Paid up Capital : KD 500,000
Total Workforce : 400
Activities : Subject operates several divisions (see below for details)
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 1,500,000
COMPANY NAME: ARABI COMPANY WLL
ADDRESS
Registered & Physical Address
Location : Block J, Plot 175/176
Street : 4th Ring Road,
Behind National Showroom
Area : Shuwaikh Industrial Area
PO Box : 4090
Town : Safat 13041
Country : Kuwait
Telephone : (965) 4812227 / 4817878 / 4724058 /
4743574
Facsimile : (965) 4811274 / 4816138 / 4724059 /
4729350
Email : arabico@ncc.moc.kw
Premises
Subject operates
from a large suite of offices and a warehouse that are owned and located in the
Industrial Area of Safat.
Branch Office
(s)
Location Description
·
Ghazalli Rented
showroom premises
Tel : (965) 4724057
·
Suhair Rented
showroom premises
Tel : (965) 4713524
·
Hawalli Rented
showroom premises
Tel : (965) 2618780
·
Shehab Rented
showroom premises
Tel : (965) 4815811
·
Fahaheel Rented
showroom premises
Tel : (965) 3911651
·
Noof Rented
showroom premises
Tel : (965) 9032847
·
Laila Rented
showroom premises
Tel : (965) 3939111
·
Layal Rented
showroom premises
Tel : (965) 2654172
KEY PRINCIPALS
Name Position
·
Abdullah Ahmed
Bin Al Issa Managing
Director
·
Abdul Aziz
Youssef Al Jinai Director
·
Jamal Faisal
Al Mutawae Director
·
Abdul Aziz Al
Issa Director
·
Ahmed Al Issa Director
·
Faisal Al Issa Director
·
Noaf Al Issa Director
·
Faisal Abdul
Aziz Youssef Al Jinai General
Manager
·
Sayid Taha Finance
Manager
·
Bhaskar Raman
Pillai Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 20th
April 1963
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 9333, Safat
Chamber Member No. : 1172
Issued Capital : KD 500,000
Paid up Capital : KD 500,000
Name of Shareholder (s)
·
Abdullah Ahmed
Bin Al Issa
·
Abdul Aziz
Youssef Al Jinai
·
Jamal Faisal
Al Mutawae
·
Abdul Aziz Al
Issa
·
Ahmed Al Issa
·
Faisal Al Issa
·
Noaf Al Issa
AFFILIATED COMPANIES
Subject is a member of the Arabi Group of Companies, which consists of
the following concerns:
·
Gulf Trade
Promoters Est
Sheikh Salem Al Ali Al Sabah
Building
57 Al Dajeej Street
Farwaniya
PO Box : 4090
Safat 13041
Tel: (965) 4830114
Fax: (965) 4816138
·
Abdulaziz
Yousif B. Al Janai Trading Est
PO Box: 4090
Safat 13041
Tel: (965) 3986550 / 3986083
Fax: (965) 3989275
·
Al Essa
Agriculture Co
PO Box: 4090
Safat 13041
Tel: (965) 4817878
Fax: (965) 4845087
·
Arabi Group
Holding Co. K.S.C.
PO Box: 4090
Safat 13041
Tel: (965) 4817877 / 4830114 /
4830115
OPERATIONS
Activities: Subject’s operations are performed through
the following divisions:
·
Water
Equipment Division
Engaged in the import and distribution of
pumping systems, swimming pool equipment, electric control panels, water
heaters and pumps, pressure switches and gauges, sewage pumps, sand filters,
fittings, valves and pipes.
·
Fire
Fighting Division
Engaged in the import and distribution of pumps,
extinguishers, hydrants and hose reels.
·
Building
Systems Division
Engaged in the design and supply of
scaffolding systems, skylights, raised floors and steam cleaners.
·
Landscaping
& Irrigation Division
Engaged in landscape and irrigation projects
on a turnkey basis as well as the maintenance of existing landscape projects.
·
Oil,
Petrochemical and Energy Division
Engaged in the import and distribution of
steel products, tubes, pipes, valves, flanges, heat exchangers, pumps, pressure
gauges, pipeline protection coatings, piston compressors, petroleum handling
equipment, air filtration equipment, gas measurement equipment and power
transmission couplings.
·
Technical
Services Division
Engaged as mechanical, electrical and
engineering contractors.
Import
Countries: Europe and the
United States of America
International
Suppliers:
·
Bradford White United States of America
·
Audoli Italy
·
Sfeme France
·
Wika Germany
·
ABS Pumpen Germany
·
Furmanite
International United Kingdom
·
Skyes
Pickavant United Kingdom
Subject has a
workforce of approximately 400 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) 2411001
Fax
: (965) 2450150
·
Burgan Bank
Shuwaikh
PO Box : 5389
Safat 13054
Tel : (965) 4830433
Fax : (965) 4830690
·
The Gulf Bank
KSC
Mubarak Al Kabir Street
PO Box : 3200
Safat 13033
Tel : (965) 2449501
Fax : (965) 2445212
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction August
2001 February
2007
Credit amount 650,000 8,000
Amount overdue 0 0
Payment terms 90
days 90
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency Pounds
Sterling Pounds
Sterling
GENERAL COMMENTS
Arabi Company WLL
is very well established in the local business community with operations dating
back over 40 years. The company has diversified activities covering landscaping
and irrigation, oil and petrochemical supplies, building systems, and it deals
with a host of reputable international suppliers.
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 and the above credit figure is
within subject’s financial means.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.28 |
|
UK Pound |
1 |
Rs.73.43 |
|
Euro |
1 |
Rs.68.22 |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)