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Report Date : |
25.02.2012 |
IDENTIFICATION DETAILS
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Name : |
AL OULA STEEL MANUFACTURING COMPANY KSCC |
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Registered Office : |
Plot 73, Block No. 4 MA-10 Road Shuaiba Industrial Area PO Box 47218
Fahaheel 6023 |
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Country : |
Kuwait |
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Date of Incorporation : |
08.05.2001 |
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Com. Reg. No.: |
83692 |
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Legal Form : |
Kuwaiti Shareholding Company Closed - KSCC |
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Line of Business : |
Manufacture of steel billets, ferrous alloys, hot briquetted iron, pig iron, sponge iron and graphite products. |
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No. of Employees : |
350 |
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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Maximum Credit Limit : |
US$ 400,000 |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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 : AL OULA STEEL MANUFACTURING COMPANY KSCC
Country of Origin : Kuwait
Legal Form : Kuwaiti Shareholding Company Closed - KSCC
Registration Date : 8th May 2001
Commercial Registration Number : 83692
Trade Licence Number : 11270
Chamber Membership Number : 70322
Issued Capital : KD 2,000,000
Paid up Capital : KD 2,000,000
Total Workforce : 350
Activities : Manufacture of steel billets, ferrous alloys, hot briquetted iron, pig iron,
sponge iron and graphite products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 400,000
AL OULA STEEL MANUFACTURING COMPANY KSCC
Location : Plot 73,
Block No. 4
Street : MA-10 Road
Area : Shuaiba
Industrial Area
PO Box : 47218
Town : Fahaheel
6023
Country : Kuwait
Telephone : (965) 23263780 / 23263791 / 23263706 / 23263786
Facsimile : (965) 23263781
Email : info@al-oula.net / sales@al-oula.net
Subject operates from a large suite of offices and a factory that are
rented and located in the Industrial Area of Fahaheel.
Name Position
· Fahd Yacoob Yousef
Al Johan Managing
Director
· Hussain Ali
Hussain Al Kharafi Director
· Ahmed
Hussain Ali Al Kharafi Director
· Latifa Hussain Ali
Al Kharafi Director
· Anas Fahd Al Bahr General
Manager
· Saleh Shady Finance
Manager
· Bemena Mateen Administration
Manager
Date of
Establishment : 8th
May 2001
Legal Form : Kuwaiti Shareholding
Company Closed - KSCC
Commercial Reg.
No. : 83692
Trade Licence No. : 11270
Chamber Member No. : 70322
Issued Capital : KD 2,000,000
Paid up Capital : KD 2,000,000
· Fahd Yacoob Yousef
Al Johan
· Hussain Ali Hussain
Al Kharafi
· Ahmed
Hussain Ali Al Kharafi
· Latifa Hussain Ali
Al Kharafi
· Kuwait Ferro
Chrome General Trading & Contracting
Safat
Activities: Engaged in the manufacture of steel billets, ferrous alloys, hot briquetted
iron, pig iron, sponge iron and graphite
products.
Import Countries: Europe and GCC countries.
Subject has a workforce of approximately 350 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.
·
Industrial Bank of Kuwait
Block No. 5
Street No. 4
Sabhan
Tel: (965)
24728742
Fax: (965)
24731839
Acc No.
100000000368
No complaints regarding subject’s payments have been reported.
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
a fair trade risk and the above credit figure is considered to be within
subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.06 |
|
|
1 |
Rs.77.19 |
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Euro |
1 |
Rs.65.57 |
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.