MIRA INFORM
REPORT
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Report Date : |
05.05.2011 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL PAPER PRODUCTS MANUFACTURING CO
WLL |
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Registered Office : |
Block No. 1, Building
No. 58, Street No. 12, Sabhan Industrial Area, P O Box 345, Hawalli 32004 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
20.01.1981 |
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Com. Reg. No.: |
30588 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Manufacturers and printers of carton, paper and other packaging materials |
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$ 150,000 |
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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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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Kuwait |
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 : INTERNATIONAL PAPER PRODUCTS MANUFACTURING CO WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 20th January 1981
Commercial Registration Number : 30588
Trade Licence Number : 10492
Chamber Membership Number : 1362
Issued Capital : KD 1,500,000
Paid up Capital : KD 1,500,000
Total Workforce : 110
Activities :Manufacturers and printers of carton, paper and other packaging
materials.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
INTERNATIONAL PAPER
PRODUCTS MANUFACTURING CO WLL
company ADDRESS
Registered & Physical Address
Location : Block No. 1, Building No. 58
Street : Street No. 12
Area : Sabhan Industrial Area
PO Box : 345
Town : Hawalli 32004
Country : Kuwait
Telephone : (965) 24747441 / 24732069 / 24749067
Facsimile : (965) 24745818
Email : ippm@qualitynet.net
Premises
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of Hawalli.
KEY PRINCIPALS
Name Position
·
Abdullah
Al Dakheil Al Rasheed Al Dakheil Managing
Director
·
Abdulaziz
Mohamed Abdullah Jamal Director
·
Yousef
Abdullah Mohamed Shaheen Al Ghanim Director
·
Waleed
Ahmed Ibrahim Al Mannai Director
·
Badriya
Abdul Hameed Hussain Jamal Director
·
Rabab
Abdullatif Mohamed Jamal Director
·
Rouqaya
Dakheil Al Rasheed Director
·
Fadi
Abu Shaheen General
Manager
·
Magdi
Al Katabi Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 20th
January 1981
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 30588
Trade Licence No. : 10492
Chamber Member No. : 1362
Issued Capital : KD 1,500,000
Paid up Capital : KD 1,500,000
Name of Shareholder
(s)
·
Abdullah
Al Dakheil Al Rasheed Al Dakheil
·
Abdulaziz
Mohamed Abdullah Jamal
·
Yousef
Abdullah Mohamed Shaheen Al Ghanim
·
Waleed
Ahmed Ibrahim Al Mannai
·
Badriya
Abdul Hameed Hussain Jamal
·
Rabab
Abdullatif Mohamed Jamal
·
Rouqaya
Dakheil Al Rasheed
OPERATIONS
Activities: Engaged in the manufacture and printing of
carton, paper and other packaging materials.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a
workforce of 110 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Kuwaiti
Dinars (KD)
Year
Ending 31/12/09: Year Ending
31/12/10:
Total Sales KD 2,880,000 KD 3,115,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Commercial
Bank of Kuwait SAK
Hawalli
Tel: (965) 22645964
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.44.59 |
|
|
1 |
Rs.73.42 |
|
Euro |
1 |
Rs.66.04 |
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.