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Report Date : |
28.04.2012 |
IDENTIFICATION DETAILS
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Name : |
KUWAIT FLOUR MILLS BAKERIES CO SAK |
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Registered Office : |
Plot No. 128/129,
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Country : |
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Date of Incorporation : |
09.05.1962 |
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Com. Reg. No.: |
656 |
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Legal Form : |
Kuwaiti Joint Stock Company |
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Line of Business : |
Manufacturers of flour, biscuits, bread, pasta, and edible oils |
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No. of Employees : |
3,500 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
Company Name : KUWAIT FLOUR MILLS BAKERIES CO SAK
Country of Origin : Kuwait
Legal Form : Kuwaiti Joint Stock Company
Registration Date : 9th May 1962
Commercial Registration Number : 656
Chamber Membership Number : 9399
Issued Capital : KD 30,000,000
Paid up Capital : KD 30,000,000
Total Workforce : 3,500
Activities : Manufacturers of flour, biscuits, bread, pasta, and edible oils.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
KUWAIT FLOUR MILLS
BAKERIES CO SAK
Registered &
Physical Address
Location : Plot No. 128/129
Street : Jahra Road
Area : Shuwaikh
PO Box : 681
Town : Safat 13007
Country : Kuwait
Telephone : (965) 24841866 / 24830094
Facsimile : (965) 24841590 / 24845464
Email : cmd@flour-mills.com.kw
Premises
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of Safat.
Name Position
·
Salah Mohamed Mashari Al Kulaib Chairman
·
Mutlaq Yosuef Al Zayed Managing
Director
·
Adel Nahaba Hamada Director
·
Abdullah Al Wahibi Factory
Manager
·
Fahad Al Sawalih Finance
Manager
·
Nabeel Amer Financial
Controller
Date of Establishment : 9th
May 1962
Legal Form :
Kuwaiti Joint Stock Company
Commercial Reg. No. : 656
Chamber Member No. : 9399
Issued Capital : KD 30,000,000
Paid up Capital : KD 30,000,000
Name of Shareholder
(s) Percentage
·
Kuwait General Investment Authority 100%
Activities: Engaged in the manufacture of flour,
biscuits, bread, pasta, and edible oils.
Production
Capacity: 1,280 tons per
day
Import
Countries: Europe and GCC
countries
Subject has a
workforce of approximately 3,500 employees.
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.
·
Commercial
Bank of Kuwait SAK
Mubarak Al Kabir Street
PO Box: 2861
Safat 13029
Tel: (965) 22411001
Fax: (965) 22450150
·
Gulf
Bank KSC
Mubarak Al Kabir Street
PO Box: 3200
Safat 13033
Tel: (965) 22449501
Fax: (965) 22445212
No complaints
regarding subject’s payments have been reported.
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 and the above credit figure is
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.52.68 |
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UK Pound |
1 |
Rs.85.12 |
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Euro |
1 |
Rs.69.38 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.