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Report Date : |
05.05.2012 |
IDENTIFICATION DETAILS
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Name : |
ORIENTAL
INTERNATIONAL GENERAL TRADING CO WLL |
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Registered Office : |
Al Sharq Area 786, Safat
13008 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
02.07.1985 |
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Com. Reg. No.: |
82742 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Import and
distribution of general foodstuff products etc |
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No. of Employees : |
160 |
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 – September 30, 2011
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Kuwait |
A2 |
A2 |
|
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 : ORIENTAL
INTERNATIONAL GENERAL TRADING CO WLL
Country of Origin : Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date : 2nd
July 1985
Commercial
Registration Number : 82742
Trade Licence
Number :
1785/2000
Chamber Membership
Number :
16352
Issued Capital : KD
150,000
Paid up Capital : KD
150,000
Total Workforce : 160
Activities :
Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
ORIENTAL
INTERNATIONAL GENERAL TRADING CO WLL
Location : Al Sharq Area
PO Box : 786
Town : Safat 13008
Country : Kuwait
Telephone : (965) 22409409 / 22404409
Facsimile : (965) 22401919
Mobile : (965) 66920555
Email : info@orientwalkuwait.com
/ hjowharco@hotmail.com
Subject operates from
a large suite of offices and a warehouse that are rented and located in the
Central Business Area of Safat.
Name Nationality Position
·
Hussain Abdullah Ahmed Jowhar Kuwaiti Managing Director
·
Nekar Satish Chandra Shetty Indian Director
·
Venkat Shetty - Commercial
Manager
·
Senan Maskarnes - Finance
Manager
Date of Establishment : 2nd
July 1985
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 82742
Trade Licence No. :
1785/2000
Chamber Member No. : 16352
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
·
Hussain Abdullah Ahmed Jowhar
·
Nekar Satish Chandra Shetty
Activities: Subject’s operations are performed through
the following divisions:
·
Foodstuff
Division
Engaged in the import and
distribution of general foodstuff products.
·
Oriental
Restaurants Division
Subject
operates 3 restaurants located in Salmiya Area, Safat and Abu Halifa Area.
·
Oriental
Sweets & Confectionery Division
Engaged in the wholesale and retail of sweets and confectionery. Subject
operates four retail outlets in Farwaniya, Andalus, Surra and Qusoor Area.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 160 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 4,125,000 KD 4,270,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Gulf
Bank KSC
Mubarak Al Kabir Street
PO Box: 3200
Safat 13033
Tel: (965) 22449501
Fax: (965) 22445212
No complaints
regarding subject’s payments have been reported.
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.53.72 |
|
|
1 |
Rs.86.98 |
|
Euro |
1 |
Rs.70.64 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
|
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.