MIRA INFORM REPORT

 

 

Report Date :

15.02.2012

 

IDENTIFICATION DETAILS

 

Name :

THE KUWAIT STYRENE COMPANY KSCC

 

 

Registered Office :

Olympia Tower, 13th Floor Gulf Street Al Salmiya Area PO Box 1084 & 4733 Safat 13011

 

 

Country :

Kuwait

 

 

Date of Incorporation :

27.03.2006

 

 

Com. Reg. No.:

104444

 

 

Legal Form :

Kuwaiti Shareholding Company Closed - KSCC

 

 

Line of Business :

Manufacturers of styrene monomer

 

 

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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                                     : THE KUWAIT STYRENE COMPANY KSCC

Country of Origin                                    : Kuwait

Legal Form                                            : Kuwaiti Shareholding Company Closed - KSCC

Registration Date                                   : 27th March 2006

Commercial Registration Number                        : 104444

Trade Licence Number                            : 967/2004

Chamber Membership Number                : 100641

Issued Capital                                        : KD 7,074,000

Paid up Capital                                      : KD 7,074,000

Total Workforce                                     : 100

Activities                                               : Manufacturers of styrene monomer

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 150,000

Person Interviewed                                 : Adel Yousef Abdulaziz Al Munifi, Managing Director

 

COMPANY NAME

 

THE KUWAIT STYRENE COMPANY KSCC

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Olympia Tower, 13th Floor

Street               : Gulf Street

Area                 : Al Salmiya Area

 

PO Box             : 1084 & 4733

 

Town                 : Safat 13011

Country             : Kuwait

 

Telephone         : (965) 25765707

Facsimile          : (965) 25765708

Email                : almunia@ekuwait.com

 

Premises

 

Subject operates from a medium sized suite of offices that are rented and located in the Central Business Area of Safat.

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       Shuaiba Industrial Area                                                                      Factory premises

Safat

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Ahmed Abdullah Habib Al Habib                                                         Chairman

 

·       Adel Yousef Abdulaziz Al Munifi                                                         Managing Director

 

·       Nasser Fahd Al Anzi                                                                         Director

 

·       Jamal Abdul Jalil                                                                               Commercial Manager

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 27th March 2006

 

Legal Form                  : Kuwaiti Shareholding Company Closed - KSCC

 

Commercial Reg. No.  : 104444

 

Trade Licence No.       : 967/2004

 

Chamber Member No. : 100641

 

Issued Capital              : KD 7,074,000

 

Paid up Capital            : KD 7,074,000

 

Name of Shareholder (s)                                  Percentage

 

·       Kuwait Aromatic Co KSCC                                         57.50%

Safat

 

·       Dow Chemical Co                                                      42.50%

United States of America

 

 

AFFILIATED COMPANIES

 

 

·       E Kuwait Petrochemical Co

Safat

Tel: (965) 25765886

 

 

OPERATIONS

 

 

Activities: Engaged in the manufacture of styrene monomer.

 

Production Capacity: 450,000 MT per year.

 

Import Countries: Europe and the Far East.

 

Subject has a workforce of 100 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

 

·       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

 

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.49.33

UK Pound

1

Rs.77.41

Euro

1

Rs.64.84

 

 

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.