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Report Date : |
04.12.2012 |
IDENTIFICATION DETAILS
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Name : |
ANWAR AL JAZEERA GENERAL TRADING AND CONTRACTING |
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Registered Office : |
Block 1, 3rd |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
27.03.1983 |
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Reg. No.: |
34502 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of general foodstuffs and consumable goods |
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No. of Employees : |
35 |
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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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
Kuwait - ECONOMIC OVERVIEW
Kuwait has a geographically small, but wealthy, relatively open economy with crude oil reserves of about 104 billion barrels - about 7% of world reserves. Petroleum accounts for nearly half of GDP, 95% of export revenues, and 95% of government income. Kuwaiti officials have committed to increasing oil production to 4 million barrels per day by 2020. The rise in global oil prices throughout 2011 is reviving government consumption and economic growth. Kuwait has experienced a 20% increase in government budget revenue, which has led to higher budget expenditures, particularly wage hikes for many public sector employees. Kuwait has done little to diversify its economy, in part, because of this positive fiscal situation, and, in part, due to the poor business climate and the acrimonious relationship between the National Assembly and the executive branch, which has stymied most movement on economic reforms. In 2010, Kuwait passed an economic development plan that pledges to spend up to $130 billion over five years to diversify the economy away from oil, attract more investment, and boost private sector participation in the economy.
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Source : CIA |
Company Name :
ANWAR AL JAZEERA GENERAL TRADING AND CONTRACTING
Country of Origin :
Kuwait
Legal Form : Sole Proprietorship
Registration Date :
27th March 1983
Commercial Registration Number :
34502, Safat
Trade Licence Number :
242/83
Chamber Membership Number :
13357
Invested Capital :
KD 60,000
Total Workforce :
35
Activities :
Distributors of general foodstuffs and consumable goods
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
ANWAR AL JAZEERA GENERAL TRADING AND CONTRACTING
Registered &
Physical Address
Location : Block 1, 3rd
Industrial City, Shuwaikh
PO Box : 23147
Town : Safat 130092
Country :
Telephone : (965) 24839396
/ 22407760 / 24824332 / 66480000
Facsimile : (965) 22431995
/ 24824332 / 24826717
Email : info@anwaraljazeera.com
Premises
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Industrial Area of Safat.
Name Position
Fadel Saud Sulaiman Al Fadel Proprietor
& General Manager
Saleem Mohamed Jobarah Assistant
General Manager
Amer Mohamed Deeb Commercial
Manager
Yasser Awad Financial
Controller
Date of Establishment: 27th March 1983
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 34502, Safat
Trade Licence No. : 242/83
Chamber Member No.: 13357
Invested Capital : KD 60,000
Mr Fadel Saud Sulaiman Al Fadel is the sole proprietor of the business.
Activities: Engaged in the
import and distribution of general foodstuffs and consumable goods.
Import Countries: Europe
and the Far East.
Operating Trend: Steady
Subject has a workforce of 35 employees.
Financial highlights provided by local sources are given below:
Currency: Kuwaiti Dinar (KD)
Year Ending 31/12/10: Year Ending 31/12/11:
Total Sales KD
1,800,000 KD
2,050,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Commercial Bank of Kuwait SAK
Mubarak Al Kabir Street
PO Box: 2861
Safat 13029
Tel: (965) 22411001
Fax: (965) 22450150
No complaints regarding subject’s payments have been reported.
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 business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.56 |
|
|
1 |
Rs.87.45 |
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Euro |
1 |
Rs.71.08 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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 |
-- |
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.