MIRA INFORM REPORT

 

 

Report Date :           

06.01.2012

 

IDENTIFICATION DETAILS

 

Correct 1Name :

KUWAIT BOXES CO KSCC

 

 

Registered Office :

Amghara Industrial Area, Block 4, Plots 184, 186, 188, 190, & 192, P O Box 26972 & 892, Al Ayoun

 

 

Country :

Kuwait

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

27.01.2007

 

 

Com. Reg. No.:

111233

 

 

Legal Form :

Kuwaiti Shareholding Closed Company

 

 

Line of Business :

Manufacturers of corrugated boxes and cartons

 

 

No. of Employees :

150

 

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 30th, 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                                     : KUWAIT BOXES CO KSCC

Also Known As                                      : KUWAIT BOXES CARTON MANUFACTURING

Country of Origin                                    : Kuwait

Legal Form                                            : Kuwaiti Shareholding Closed Company - KSCC

Registration Date                                   : 27th January 2007

Commercial Registration Number                        : 111233

Trade Licence Number                            : 1206/2005

Chamber Membership Number                : 106064

Issued Capital                                        : KD 3,000,000

Paid up Capital                                      : KD 3,000,000

Total Workforce                                     : 150

Activities                                               : Manufacturers of corrugated boxes and cartons

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 150,000

 

COMPANY NAME

 

KUWAIT BOXES CO KSCC

 

 

ALSO KNOWN AS

 

KUWAIT BOXES CARTON MANUFACTURING

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Amghara Industrial Area, Block 4, Plots 184, 186, 188, 190, & 192

PO Box             : 26972 & 892

Town                 : Al Ayoun

Country             : Kuwait

Telephone         : (965) 24573696 / 22458550 / 24573695

Facsimile          : (965) 24573691

Email                : info@kuwaitboxes.com

 

Premises

Subject operates from a large suite of offices and a factory that are rented and located in the Industrial Area of Al Ayoun.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Abdullah Faisal Abdullah Bodi                                                            Chairman

 

·       Faisal Yacoub Abdullah Bodi                                                              Vice Chairman

 

·       Faisal Jamal Al Seri                                                                          General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 27th January 2007

 

Legal Form                  : Kuwaiti Shareholding Closed Company - KSCC

 

Commercial Reg. No.  : 111233

 

Trade Licence No.       : 1206/2005

 

Chamber Member No. : 106064

 

Issued Capital              : KD 3,000,000

 

Paid up Capital            : KD 3,000,000

 

Name of Shareholder (s)                                                     Percentage

 

·       The Securities House Investment Co                                       100%

Safat

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of corrugated boxes and cartons.

 

Production Capacity: 24,000 MT per year.

 

Import Countries: Europe and the Far East.

 

Operating Trend: Steady

 

Subject has a workforce of approximately 150 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Kuwaiti Dinars (KD)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                KD 2,170,000                            KD 2,490,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Commercial Bank of Kuwait SAK

     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.52.78

UK Pound

1

Rs.82.33

Euro

1

Rs.68.19

 

 

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.