MIRA INFORM REPORT

 

 

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

 

 

SUMMARY

 

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

COMPANY NAME

 

UNITED BEVERAGE CO KSCC

 

 

ADDRESS

 

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.

 

 

KEY PRINCIPALS

 

            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

 

 

LEGAL FORM & OWNERS

 

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

 

 

OPERATIONS

 

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.

 

 

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

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.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%)

 

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.