|
Report Date : |
24.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
UNITED BEVERAGE
CO KSCC |
|
|
|
|
Registered Office : |
Sabhan Industrial
Area, Plot No 2, PO Box: 224, Safat 13003 |
|
|
|
|
Country : |
Kuwait |
|
|
|
|
Date of Incorporation : |
1954 |
|
|
|
|
Com. Reg. No.: |
80490 |
|
|
|
|
Legal Form : |
Kuwaiti
Shareholding Company Closed |
|
|
|
|
Line of Business : |
Manufacture of soft
drinks, beverages and purified water |
|
|
|
|
No. of Employees : |
1,550 |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Kuwait |
A2 |
A2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source : CIA |
Company Name : UNITED
BEVERAGE CO KSCC
Country of Origin : Kuwait
Legal Form :
Kuwaiti Shareholding Company Closed - KSCC
Start Date :
1954
Registration Date : 20th
March 2006
Commercial
Registration Number : 80490
Trade Licence
Number : 10341
Chamber Membership
Number : 100446
Issued Capital : KD
10,000,000
Paid up Capital : KD
10,000,000
Total Workforce : 1,550
Activities :
Manufacture of soft drinks, beverages and purified water
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Waleed
Sulaiman, Assistant Finance Manager
UNITED BEVERAGE CO
KSCC
Registered & Physical Address
Location : Sabhan Industrial Area, Plot No 2
PO Box : 224
Town : Safat 13003
Country : Kuwait
Telephone : (965) 2477477 / 1830088 / 24769909 /
24727211 / 24760827 / 24760887 /
24760817
Facsimile : (965) 24723445
Email : f.al-eidan@unibevkw.com
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Safat.
Name Position
Mohamed Jassim
Al Saqr Chairman
Ahmed G Al Naqeeb Managing
Director
Ali G Al Naqeeb Director
Sajida G Al Naqeeb Director
Jassim Hamd Al
Saqr Director
Khaled Abdullah
Hamd Al Saqr Director
Mohamed Saleh
Behbahani Director
Talal Mohamed
Behbhani Director
Essam Jassim Al
Saqr Director
Faisal Al Eidan General
Manager
Zaid Al Qumisi Plant
Manager
R M Ganapathi Finance
Manager
Sami Ullah Bhutt Purchasing
Manager
Emad Refai Administration
Manager
Wail Ahmed Hassan Logistics
Manager
Reza Abbas Marketing
Manager
Waleed Sulaiman Assistant
Finance Manager
Date of
Establishment : Subject’s operations date back to 1954,
however it was registered on 20th March 2006
Legal Form : Kuwaiti Shareholding Company Closed - KSCC
Commercial Reg.
No. : 80490
Trade Licence
No. : 10341
Chamber Member
No. : 100446
Issued Capital : KD 10,000,000
Paid up Capital : KD 10,000,000
Name of Shareholder (s)
Mohamed Jassim
Al Saqr
Ahmed G Al Naqeeb
Ali G Al Naqeeb
Sajida G Al Naqeeb
Jassim Hamd Al
Saqr
Khaled Abdullah
Hamd Al Saqr
Mohamed Saleh
Behbahani
Talal Mohamed
Behbhani
Essam Jassim Al
Saqr
Activities: Engaged in the manufacture of soft drinks,
beverages and purified water.
Subject has 82%
share value of Kuwait Market and operates a fleet of 350 trucks for
distributing its products.
Import
Countries: India and Japan
Brand Names: PEPSI, 7UP, MIRANDA, AQUAFINA, TROPICANA,
LIPTON, GATORADE, FRUZ, SHREEN,
GHALIA and SAMAR
Subject has a
workforce of approximately 1,550 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
Mubarak Al Kabir
Street
PO Box: 2861
Safat 13029
Tel: (965) 22411001
Fax: (965) 22450150
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.08 |
|
UK Pound |
1 |
Rs.89.53 |
|
Euro |
1 |
Rs.72.77 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.