MIRA INFORM REPORT

 

 

Report Date :

02.04.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

ARABIAN BEVERAGE COMPANY LTD KSCC

 

 

Formerly Known As :

Arabian Beverage Co. Ltd.

 

 

Registered Office :

Arab Beverages Building, Street No. 103, Sabhan Industrial Area, Block No. 5, Near to KDD Factory, P.O.Box No 3022, Safat 13031

 

 

Country :

Kuwait

 

 

Date of Incorporation :

02.08.1960

 

 

Com. Reg. No.:

6896

 

 

Legal Form :

Kuwaiti Shareholding Company

 

 

Line of Business :

Importers, wholesalers and retailers of concentrate for juices, including mango, orange, peach, pineapple and mineral

 

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 :

KD 400,000

Status :

Good

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

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

 

Arabian Beverage Company Ltd KSCC (Correct)         

ARABIAN BEVERAGE CO LTD. (Requested)

 

company ADDRESS

 

Building             : Arab Beverages Building

Street               : Street No. 103

Area                 : Sabhan Industrial Area, Block No. 5, Near to KDD Factory

P.O.Box No.      : 3022

Town                 : Safat 13031

Country             : Kuwait

Telephone         : (965) 2473 6222 / 2471 6905 / 2471 4054 / 180 2066      

Fax                   : (965) 2472 2793 / 2476 0613

E-Mail               : finance@abcjuice.com.kw  

Website            : www.abcjuice.com

 

Shortform Name             : ABC

 

Trading Styles               : Canada Dry

 

Formerly Known As        : Arabian Beverage Co. Ltd.

 

 

SENIOR COMPANY PERSONNEL

 

    Name                                                                        Position

 

1.  Adnan Abdul Nabi Al Mousa                           Chairman / General Manager

 

2.  Alaa Al Moussawi                                         Vice Chairman

 

3.  Dr. Mohamed Wayel AL Mohanna                  Deputy General Manager

 

4.  Elie Abdou                                                    Deputy General Manager

 

5.  Khaled Mohammed Salem                             Financial Manager

 

6.  Hamadullah Mohammed                                Assistant to Financial Manager

 

7.  Ayman Sami                                                             Financial Controller

 

8.  Jacob Mathai                                                Production Manager

9.  Abdul Aziz Al Saleh                                      Exports Manager

 

10. Deeb Al Mallah                                             Marketing Manager

 

11. Walid Al Husseini                                         Accountant

 

Total Employees :          700 (Subject)

                                    1,700 (Group)

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers or banks.

 

Subject is a member of the Bukhamseen Holding Group, Kuwait with interests in travel and tourism, real estate development and contracting, general trading, banking and insurance services, distribution of automotive parts and accessories, production and distribution of beverages, with operations in Kuwait dating back to 1957 and employs more than 1,700 people.

 

We consider it is acceptable to deal with subject for LARGE amounts.

 

Opinion on maximum credit        : KD 400,000

 

Trade risk assessment               : Normal

 

 

PRINCIPAL BANKERS

 

NAME               : AL AHLI BANK OF KUWAIT KSC

Branch              : Ahmed Al Jaber Street

PO Box             : 1387

Town                 : Safat 13014

Telephone         : (965) 2240 0900

Fax                   : (965) 2242 4557

 

Subject also has an account with the following banks :

 

1. Industrial Bank of Kuwait

   Mubarak Al Kabeer Street

   PO Box 360

   Safat 13032

   Telephone: (965) 2245 7661

   Fax      : (965) 2246 2057

 

2. BNP Paribas

   PO Box 21188

   Safat 13072

   Telephone: (965) 2298 7600

   Fax      : (965) 2298 7644

 

3. HSBC Bank Middle East

   PO Box 1683

   Safat 13017

   Telephone: (965) 2223 0722

   Fax      : (965) 2223 0733

 

 

FINANCIAL INFORMATION

 

Private companies in Kuwait are not required to publish or disclose balance sheets. However, the subject interviewed offered

the following information :

 

Sales Turnover               : KD  3,000,000 - 1998 - exact

                                    : KD  3,000,000 - 1999 - exact

                                    : KD  4,100,000 - 2000 - exact

                                    : KD  5,500,000 - 2001 - exact

                                    : KD  6,500,000 - 2002 - exact

                                    : KD  6,500,000 - 2003 - exact

: KD  8,500,000 - 2004 - exact

: KD 10,000,000 - 2005 - exact

: KD 13,000,000 - 2006 - exact

                                    : KD 18,250,000 - 2007 - exact *

                                    : KD 24,000,000 - 2008 - exact *

                        : KD 26,982,000 - 2009 - exact

                        : KD 28,467,000 - 2010 – exact **

                        : KD 34,865,000 – 2010 - projected

 

Net Profit                       : KD  1,600,000 - 2007 - exact

: KD  1,700,000 - 2008 – exact

: KD  1,320,000 - 2009 - exact

: KD  2,231,000 - 2010 - projected

             

Capital Investment : KD 9,500,000 (as of November 2010)

 

* Sharp increase in sales turnover in 2007 and 2008 was attributed to

increase in production capacity.

 

** 10 months results (January - October).

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started : 2 August 1960

 

 

History : The subject company was established in Kuwait on 2 August 1960 as a Limited Liability Company under the name Arabian Beverage Co. Ltd with the present shareholder. In October 2001, subject changed its name and legal status to the present.

 

C.R. No.                        : 6896

 

KCCI Membership No.    : 1427 (expiry date : 02/09/2014)

 

Authorised Capital          : KD 9,500,000 (increased from KD 6,500,000 in

                                       2009, increased from KD 5,000,000 in 2008,

                                       increased from KD 3,000,000 in 2007)           

 

Paid up Capital              : KD 9,500,000 (increased from KD 6,500,000 in

                                    2009, increased from KD 5,000,000 in 2008,

                                    increased from KD 3,000,000 in 2007)           

 

Kuwaiti Shareholding Company (closed) with the following shareholders:

 

                                                                                                       Percentage

 

1. Al Ahlia Beverage Company                                                                50%

   North Sabhan 13083

   Kuwait

   Telephone: (965) 2473 6222 / 2472 2793

 

2. Al Baraka General Trading and Contracting Company                            20%

   Kuwait City

   Kuwait

 

3. Al Bukhamseen General Trading Company                                             20%

   Imad Commercial Centre

   Ahmed Al Jaber Street

   Al Sharq Area

   PO Box 3824

   Kuwait City

   Telephone: (965) 2240 0360 / 2240 0361 / 2240 9600

   Fax      : (965) 2240 9146

 

4. Al Houda Hotels and Tourism Company                                                 10%

   PO Box 18544

   Farwaniyah 81006

   Kuwait

   Telephone: (965) 2474 2000 / 2473 2100

 

Affiliated companies of Arabian Beverage Company Ltd KSCC :

 

Associates

1. Bu Khamseen Electronics Est

   PO Box 3824

   Kuwait City

   Telephone: (965) 2240 9600

   Fax      : (965) 2240 9146

 

2. Crowne Plaza Kuwait

   Crowne Plaza Kuwait Hotel

   Farwaniya

   PO Box 18544

   Kuwait City 81006

   Kuwait

   Telephone: (965) 2474 2000

   Fax    : (965) 2473 2020          

 

3. Arab Investment Company     

   Sharq Area

   PO Box 26630

   Safat 13127

   Kuwait City

   Kuwait

   Telephone: (965) 2224 9999

   Fax      : (965) 2224 6887

 

4. Al Arabiya Real Estate Company

   Al Sharq Area

   PO Box 26980

   Safat 13130

   Kuwait City

   Kuwait

   Telephone: (965) 2242 0060 / 2242 0070 / 2242 0080

   Fax    : (965) 2242 0040

 

5. Al Nojoum Real Estate Company

   Kuwait City

   Kuwait

 

 

6. Al Imad Motors Establishment            

   Kuwait City

   Kuwait

 

7. Al Imad Real Estate Company            

   Kuwait City

   Kuwait

 

 

ACTIVITIES

 

The Company was involved in the following activities :

 

Importers, wholesalers and retailers of concentrate for juices,

including mango, orange, peach, pineapple and mineral.

 

Producers of juices, milk and other dairy products, mineral water and

carbonated drinks, under license from Canada Dry and ABC.

 

Production Capacity : 108  million bottles

                       50  million tin cans

                       5.5 million litres of fruit juice 

 

Agents for :  ABC Juices

              ABC Mineral Water

              Al Rai Dairy Product's (Saudi Arabia)

              Al Safi Dairy Products (Saudi Arabia)

              Canada Dry Juices & Soft Drinks (USA)

              Happy Cheese (Italy)

              Cheese (Turkey)

              Tylos Mineral Water (Bahrain)

 

Brand names : ABC Juices

              ABC Milk

              Juda Milk

              Xtra-V Juices

              Juda Juices

              Blue Dana Drinks

              Dalya Drinks

              Fuse (Energy Drink)

              Refresh

              Brio

 

Imports worldwide, mainly from Cyprus, The Netherlands, Sweden, Canada, USA, Australia, India, Egypt and Saudi Arabia.

 

Exports to GCC and Middle East countries, mainly to Iraq, Jordan and Lebanon.

 

 

FACILITIES

 

The Company has the following facilities :

 

Rented administrative offices and a medium-sized factory (20,000 sq. meter) with storage facilities located at the heading address as well as branch offices located in Saudi Arabia and Bahrain.

 

Subject also has 70 refrigerated vehicles for distribution.

 

Subject previously was located at :

 

Shuwaikh Industrial AreaKuwait

 

 

SPECIAL NOTE

 

You enquired on: Arabian Beverage Co Ltd. Please note that this name applies to subject's formerly known name. Subject's current registered name is as per heading.

 

Telephone numbers in Kuwait have changed. Please note that the subject's correct telephone numbers are as per heading.

 

The telephone number given by you: 4736902 is incorrect. Please note that subject’s correct telephone numbers are as per heading.

 

Interviewed : Hamadullah Mohammed (Assistant to Financial Manager).

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.65

UK Pound

1

Rs.71.93

Euro

1

Rs.63.24

 

 

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

 

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.