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MIRA INFORM REPORT
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Report Date : |
09.04.2011 |
IDENTIFICATION DETAILS
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Name : |
KUWAIT AGRICULTURE CO WLL (KACO) |
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Registered Office : |
Block |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
29.09.1968 |
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Com. Reg. No.: |
14862, Safat |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Import and distribution of general foodstuff, as well as the operation of a poultry farm and 3 restaurants |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 2,150,000 |
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Status : |
Good |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : KUWAIT AGRICULTURE CO WLL (KACO)
Country of Origin :
Legal Form : With Limited Liability - WLL
Registration Date : 29th September 1968
Commercial Registration Number : 14862, Safat
Chamber Membership Number : 3116
Issued Capital : KD 5,000,000
Paid up Capital : KD 5,000,000
Total Workforce : 520
Activities : Import and distribution of general foodstuff, as well as the operation of a
poultry farm and 3 restaurants
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 2,150,000
Person Interviewed : Tariq Mohamed Mahmoud, Finance Manager
COMPANY
NAME
KUWAIT AGRICULTURE CO WLL (KACO)
company
ADDRESS
Registered & Physical
Address
Location : Block 2
Street :
Area : Ardiya
Industrial Area
PO Box : 20468
Town : Safat 13065
Country : Kuwait
Telephone : (965) 24346180 / 24314532 / 24312870
/ 24312598 / 24312694 / 24335814 / 1825258
Facsimile : (965) 24312512 / 24312419 / 24341820
/ 24335814 / 24315419
Email : comm.@ktagr.com / ktagri@ncc.moc.kw
Premises
Subject operates from
a large suite of offices, a showroom and storage facilities that are owned and
located in the Industrial Area of Safat.
Branch
Offices
Location Description
·
Shuwaikh
Industrial Area Warehouse
premises
Tel: (965) 24822293 / 24844544
KEY
PRINCIPALS
Name Position
·
Ayman Hesham Adeeb Al Hejawi Managing
Director
· Jaafar Hesham Adeeb
Al Hejawi Director
· Jawad Nasser
Hussain Al Arbash Director
· Mohamed Nasouh
Mamdouh Ali Al Kailani Director
· Mohamed Kamal Ismail General Manager
·
Anand
Kumar Commercial
Manager
·
Tariq Mohamed Mahmoud Finance
Manager
·
M Hazgail Sales
Manager
·
Reda Adwi Marketing
Manager
LEGAL
FORM & OWNERS
Date of Establishment : 29th
September 1968
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 14862, Safat
Chamber Member No. : 3116
Issued Capital : KD 5,000,000
Paid up Capital : KD 5,000,000
Name of
Shareholder (s)
·
Ayman Hesham Adeeb Al Hejawi
· Jaafar Hesham Adeeb
Al Hejawi
· Jawad Nasser Hussain
Al Arbash
· Mohamed Nasouh
Mamdouh Ali Al Kailani
·
Heirs
of the late Mohamed Nasser Hussain Al Arbash
OPERATIONS
Activities: Engaged in the import and distribution of a
wide range of foodstuff products, including cheeses, dairy
products, poultry, eggs and quail eggs, processed meat products, canned
fruit and vegetables, olives, vegetable oils and ghee, and cakes.
Subject also operates a poultry farm on the outskirts of Safat and 3
restaurants within the city and operates a fleet of 31 delivery trucks.
Import
Countries:
States of
International
Suppliers:
·
S.P.C
Ltd
·
Pittas
Dairy Industries
·
Gimo
Cheese
·
Crown
Products Inc
Brand Names: SOHAT, PUCK, PITTAS, DANPO, DOUX and
NORBEST
Operating Trend: Steady
Subject has a
workforce of approximately 520 employees.
FINANCIAL
DATA
Financial highlights
provided by local sources are given below:
Currency: Kuwaiti
Dinars (KD)
Year
Ending 31/12/08: Year Ending
31/12/09:
Total Sales KD 39,500,000 KD 42,850,000
Local sources
consider subject’s financial condition to be Good.
The above financial
figures were confirmed by Tariq Mohamed Mahmoud,
Finance Manager.
BANKERS
·
National
Bank of
PO Box: 95
Safat 13001
Tel: (965) 23981188 / 23981189
Fax: (965) 23985643
·
Commercial
Bank of
PO Box: 2861
Safat 13029
Tel: (965) 22411001
Fax: (965) 22450150
PAYMENT
HISTORY
No complaints
regarding subject’s payments have been reported.
Date of transaction April
1999 November 2002 May 2006
Credit amount 123,267 71,000 38,000
Amount overdue 0 0 0
Payment terms 30
days 30
days 30
days
Payment Method Letters
of Credit Letters
of Credit Letters
of Credit
Paying record No
Complaints No Complaints No Complaints
Currency Pounds
Sterling Euros Pounds
GENERAL
COMMENTS
Kuwait Agriculture
Co WLL (KACO) is well established in the local foodstuff market with operations
dating back to 1968. It’s activities cover the import and distribution of
general foodstuff, as well as the operation of a poultry farm and 3
restaurants.
The company is run
in a professional manner and deals with a number of well known international
organisations.
Local sources
report that payment obligations are met in a generally timely manner and the operating
history is clear. As such the company is deemed a fair trade risk and the above
credit figure is considered to be within subject’s financial means.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.04 |
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1 |
Rs.72.20 |
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Euro |
1 |
Rs.63.40 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.