MIRA INFORM REPORT

 

 

Report Date :           

21.04.2012

 

IDENTIFICATION DETAILS

 

Name :

AL WATANIA PAPER PRODUCTS CO WLL

 

 

Registered Office :

Sabhan Industrial Area, P O Box 2645, Mishref 40177

 

 

Country :

Kuwait

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

12.04.2005

 

 

Com. Reg. No.:

101989

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Manufacturers of paper products

 

 

No. of Employees :

100

 

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$ 150,000

 

 

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 WATANIA PAPER PRODUCTS CO WLL

Country of Origin                                    : Kuwait

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 12th April 2005

Commercial Registration Number            : 101989

Trade Licence Number                            : 30405

Chamber Membership Number                : 94258

Issued Capital                                        : KD 100,000

Paid up Capital                                      : KD 100,000

Total Workforce                         : 100

Activities                                               : Manufacturers of paper products

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Recommended Credit Limit                     : US$ 150,000

Person Interviewed                                 : Ismal El Masry, General Manager

 

COMPANY NAME

 

AL WATANIA PAPER PRODUCTS CO WLL

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Sabhan Industrial Area

PO Box : 2645

Town                 : Mishref 40177

Country : Kuwait

Telephone         : (965) 24742617 / 66666183

Facsimile          : (965) 24742619

Mobile               : (965) 99828148 / 97404714

Email                : info@nccikw.com / wppc_kuwait@hotmail.com

 

Premises

Subject operates from a small suite of offices and a factory that are rented and located in the Industrial Area of Mishref.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

·       Abdulrahman Manahi Soniyihat Al Osaimi                                           Chairman

·       Abdullah Saad Al Otaibi                                                                     Managing Director

·       Ismal El Masry                                                                                  General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 12th April 2005

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 101989

 

Trade Licence No.       : 30405 (Expires 15/11/2015)

 

Chamber Member No. : 94258

 

Issued Capital              : KD 100,000

 

Paid up Capital            : KD 100,000

Name of Shareholder (s)                                                       Percentage

 

·       National Company for Consumer Industries                              100%

Safat

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of paper products, including tissues and toilet paper.

 

Operating Trend: Steady

 

Subject has a workforce of 100 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Kuwaiti Dinars (KD)

 

                                                Year Ending 31/12/10:                Year Ending 31/12/11:

 

Total Sales                                KD 3,140,000                            KD 3,370,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       National Bank of Kuwait SAK

Ali Awadi Tower

Ahmed Al Jaber Street

PO Box: 95

Safat 13001

Tel: (965) 23981188 / 23981189

Fax: (965) 23985643

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

GENERAL COMMENTS

 

Local sources report that the subject’s operating history is clear with payment obligations met in a generally timely manner. The financial position is satisfactory and the company is deemed a fair trade risk.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.99

UK Pound

1

Rs.83.54

Euro

1

Rs.63.40

 

 

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.