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Report Date : |
02.07.2012 |
IDENTIFICATION DETAILS
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Name : |
GULF RIG FOR PETROLEUM SERVICES |
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Registered Office : |
Commercial Area No.
2, Block No. 5, Office 116, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
13.11.2000 |
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Com. Reg. No.: |
30917 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Distributors of gas and oilfield machinery, rigs and chemicals |
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No. of Employees : |
40 |
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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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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 : GULF RIG FOR PETROLEUM SERVICES WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 13th November 2000
Commercial Registration Number : 30917
Trade Licence Number : 1712/2000
Chamber Membership Number : 66659
Issued Capital : KD 200,000
Paid up Capital : KD 200,000
Total Workforce : 40
Activities : Distributors of gas and oilfield machinery, rigs and chemicals
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
GULF RIG FOR
PETROLEUM SERVICES WLL
Registered &
Physical Address
Location : Commercial Area No. 2, Block No. 5,
Office 116
PO Box : 1537 & 22779
Town : Safat 13016
Country : Kuwait
Telephone : (965) 22444307 / 22446950 / 66552518
/ 2244302
Facsimile : (965) 22431329 / 22426172
Email : info@gulfrigs-kw.com / a_khourshid@hotmail.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Safat.
Name Position
·
Abdul
Reda Abdullah Khourshid Managing
Director
·
Waleed Abdul
Reda Abdullah Khourshid Director
·
Abdullah
Abdul Reda Abdullah Khourshid Director
·
Ibtisam
Ali Yacoub Ayyan Director
·
Haytham
Eid Financial
Manager
·
·
Samiran
Boudaval Purchase
Manager
Date of Establishment : 13th
November 2000
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 30917
Trade Licence No. :
1712/2000
Chamber Member No. : 66659
Issued Capital : KD 200,000
Paid up Capital : KD 200,000
Name of Shareholder
(s)
·
Abdul
Reda Abdullah Khourshid
·
Waleed
Abdul Reda Abdullah Khourshid
·
Abdullah
Abdul Reda Abdullah Khourshid
·
Ibtisam
Ali Yacoub Ayyan
·
Arab
Builders WLL
Safat
Activities: Engaged in the import and distribution of
gas and oilfield machinery, rigs and chemicals.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 40 employees.
Financial
highlights provided by local sources are given below:
Currency: Kuwaiti
Dinars (KD)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales KD 2,500,000 KD 2,850,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Kuwait
Finance House (KFH)
Safat Square
Abdullah Al Mubarak Street
PO Box: 24989
Safat 13110
Tel: (965) 22445050
Fax: (965) 22455135
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.56.31 |
|
UK Pound |
1 |
Rs.88.06 |
|
Euro |
1 |
Rs.70.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
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 |
|
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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.