MIRA INFORM REPORT

 

 

Report Date :

18.04.2012

 

IDENTIFICATION DETAILS

 

Name :

AL KAZEMI INTERNATIONAL GENERAL TRADING & CONTRACTING GROUP CO WLL

 

 

Registered Office :

Salem Al Mubarak Street Al Salmiya Area PO Box 403 Safat 13005

 

 

Country :

Kuwait

 

 

Date of Incorporation :

29.07.2007

 

 

Com. Reg. No.:

78965

 

 

Legal Form :

With Limited Liability - WLL

 

 

Line of Business :

Providers of shipping, cargo, land, sea, air freight and contracting services

 

 

No. of Employees :

150

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 200,000

Status :

Satisfactory

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Kuwait

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

SUMMARY

 

Company Name                                     : AL KAZEMI INTERNATIONAL GENERAL TRADING & CONTRACTING GROUP CO WLL

Country of Origin                                    : Kuwait

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 29th July 2007

Commercial Registration Number            : 78965

Trade Licence Number                            : 1442/99

Chamber Membership Number                : 1147

Issued Capital                                        : KD 250,000

Paid up Capital                                      : KD 250,000

Total Workforce                         : 150

Activities                                               : Providers of shipping, cargo, land, sea, air freight and contracting services.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 200,000

 

COMPANY NAME

 

AL KAZEMI INTERNATIONAL GENERAL TRADING & CONTRACTING GROUP CO WLL

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Salem Al Mubarak Street

Area                 : Al Salmiya Area

 

PO Box : 403

 

Town                 : Safat 13005

Country : Kuwait

 

Telephone         : (965) 85133871 / 25743081 / 2 / 3 / 4 / 5 / 6

Facsimile          : (965) 25744817 / 25744819

Email                : gulfest@ncc.moc.kw / admin@alkazemigroup.net

 

Premises

 

Subject operates from a large suite of offices and a warehouse that are rented and located in the Central Business Area of Safat.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Dr Mohamed Tareq Abdullatif Al Kazemi                                              Chairman

 

·       Mohamed Ali Abdullatif Al Kazemi                                                      Managing Director

 

·       Mohamed Hassan Abdullatif Al Kazemi                                               Director

 

·       Mohamed Hussain Abdullatif Al Kazemi                                              Director

 

·       Jamil Quraish                                                                                    Shipping Manager

 

·       Ali Al Asaad                                                                                     Contracting Manager

 

·       Venga Chako Varghese                                                                     Finance Manager

 

·       Kamel Abdul Hamid                                                                           Legal Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 29th July 2007

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 78965

 

Trade Licence No.       : 1442/99

 

Chamber Member No. : 1147

 

Issued Capital              : KD 250,000

 

Paid up Capital            : KD 250,000

 

Name of Shareholder (s)

 

·       Dr Mohamed Tareq Abdullatif Al Kazemi

 

·       Mohamed Ali Abdullatif Al Kazemi

 

·       Mohamed Hassan Abdullatif Al Kazemi

 

·       Mohamed Hussain Abdullatif Al Kazemi

 

 

AFFILIATED COMPANIES

 

·       Gulf Maritime General Trading & Contracting Co

Safat

 

·       Kuwait Hayyat Hotel

Safat

 

 

OPERATIONS

 

Activities: Engaged in the provision of shipping, cargo, land, sea, air freight and contracting services.

 

Import Countries: Europe, India, Thailand, South Korea, Hong Kong, Iran, United Arab Emirates and the United

                  States of America.

 

Agencies Held:

 

·       Regional Container Lines                   Thailand

·       BDP International Inc             United States of America

·       Security Cargo Network (SCN)           United States of America

·       Mogas Industries                               United States of America

·       UNITEX International              Hong Kong

·       Aquatreat Co BV                               Belgium

·       Deepak Fastner                                India

·       Leader Valve Ltd                               India

·       Mahalaxmi Seamless Ltd                   India

·       Erection & Construction Co                Iran

·       Iran Transfo                                       Iran

·       GS Engg & Construction Corp            South Korea

·       Hankook Rasepmkwn                        South Korea

·       JFC Corp                                          South Korea

·       Taihan Electric Wire Co                     South Korea

·       Woosung Metal Co                            South Korea

·       Inotech SpA                                      Italy

·       Plibrico BV                                       Netherlands

·       Serck Services (Gulf) Ltd                   United Arab Emirates

·       Temelsu Int'l Engg Services Inc          Turkey

 

Subject has a workforce of approximately 150 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) 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 company is considered to be a fair trade risk.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.62

UK Pound

1

Rs.81.94

Euro

1

Rs.67.65

 

 

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

--

NB

                                       New Business

 

--

 

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.