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Report Date : |
08.11.2012 |
IDENTIFICATION DETAILS
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Name : |
AL YASRA FOODSTUFF COMPANY WLL |
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Registered Office : |
Sabhan Industrial
Area, Plot No. 11, |
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Country : |
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Year of Establishment : |
1988 |
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Com. Reg. No.: |
44931 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Import and distribution of general foodstuff items |
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No. of Employees : |
1,100 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A2 |
A2 |
|
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 |
Kuwait - ECONOMIC OVERVIEW
Kuwait has a geographically small, but wealthy, relatively open economy with crude oil reserves of about 104 billion barrels - about 7% of world reserves. Petroleum accounts for nearly half of GDP, 95% of export revenues, and 95% of government income. Kuwaiti officials have committed to increasing oil production to 4 million barrels per day by 2020. The rise in global oil prices throughout 2011 is reviving government consumption and economic growth. Kuwait has experienced a 20% increase in government budget revenue, which has led to higher budget expenditures, particularly wage hikes for many public sector employees. Kuwait has done little to diversify its economy, in part, because of this positive fiscal situation, and, in part, due to the poor business climate and the acrimonious relationship between the National Assembly and the executive branch, which has stymied most movement on economic reforms. In 2010, Kuwait passed an economic development plan that pledges to spend up to $130 billion over five years to diversify the economy away from oil, attract more investment, and boost private sector participation in the economy.
|
Source : CIA |
Company Name : AL YASRA FOODSTUFF COMPANY WLL
Also Known As : AL YASRA FOOD CO
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Start Date : 1988
Registration Date : 9th January 1992
Commercial Registration Number : 44931
Trade Licence Number : 169/91
Chamber Membership Number : 26832
Issued Capital : KD 1,100,000
Paid up Capital : KD 1,100,000
Total Workforce : 1,100
Activities :
Import and distribution of general foodstuff items.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
AL YASRA FOODSTUFF
COMPANY WLL
AL YASRA FOOD CO
Registered &
Physical Address
Location : Sabhan Industrial Area, Plot No.
11
PO Box : 3228
Town : Safat 13033
Country : Kuwait
Telephone : (965) 22249100 / 22249219 / 22249221
/ 22249224
Facsimile : (965) 22249101 / 22249218
Email : yasrafood@yasra.com / tariq_touny@yasra.com / suresh@yasra.com
Premises
Subject operates
from a large suite of offices and storage facilities that are owned and located
in the Suburban Business Area of Safat.
Branch Office (s)
Location Description
·
Shuwaikh
Industrial Area No. 3 Office
& warehouse premises
Tel: (965) 24835149 / 24835146 / 24835147
Fax: (965) 24835140
·
Jahra Showroom
premises
Tel : (965) 24575463
·
Al
Yasra Mills Showroom
premises
Tel : (965) 22249525
·
Al Hoor Showroom
premises
Tel : (965) 22249253
·
Al Rai Office
& warehouse premises
Tel : (965) 22249511
Name Position
·
Yousef
Al Saqer Managing
Director
·
Mohamed
Yousef Al Saqer Director
·
Ahmad
Yousef Al Saqer Director
·
Tariq
Al Touny Operations
Manager
·
Hassan
Abdul Salam General
Manager
·
Jay Ram Finance
Manager
·
Suresh
Narayan Financial
Controller
·
Wael Al
Rowini Commercial
Manager
Date of Establishment : Subject began
trading in 1988 but was officially registered on 9th January 1992
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 44931
Trade Licence No. : 169/91
Chamber Member No. : 26832
Issued Capital : KD 1,100,000
Paid up Capital : KD 1,100,000
Name of
Shareholder (s)
·
Yousef
Al Saqer
·
Mohamed
Yousef Al Saqer
·
Ahmad
Yousef Al Saqer
·
Gulf Al
Sawani General Trading & Contracting Co WLL
Salhiya Real Estate Building, Office No. 91
Salhiya
PO
Box: 3228
Safat
13033
Tel:
(965) 22411131
Fax:
(965) 22429482
·
Yasra
Fashion General Trading WLL
Safat
Tel: (965) 22411132
Fax: (965) 22433270
·
Yasra
General Trading & Contracting
Safat
·
Roma
International General Trading & Contracting
Safat
Tel: (965) 24836073
Activities: Engaged in the import and distribution of
general foodstuff items, including poultry, meat, fish, fruits,
potatoes, rice, edible oils, dairy products, olives, pickles and sauces,
mineral water, tea, coffee, sugar, pulses and nuts.
Import
Countries: Europe and GCC
countries.
Brand Names: SADIA, LAMBWESTON, JUMAN, PRIDE, ALLANA,
RIO, GULFA, HANA, HAYAT, PALLAS and
MESTAS.
Subject has a workforce
of approximately 1,100 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.
·
National
Bank of Kuwait
Shuwaikh
Tel: (965) 24813266 / 24818350
Fax: (965) 24844126
No complaints
regarding subject’s payments have been reported.
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
Subject is one of
the largest importers and distributors of foodstuff in Kuwait and enjoys an
excellent reputation for the quality of its produce. The company has been
trading since 1988 and is owned by members of the Al Saqer family who have
considerable experience in the local food market.
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.54.25 |
|
UK Pound |
1 |
Rs.87.00 |
|
Euro |
1 |
Rs.69.83 |
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 |
|
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 |
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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 |
|
<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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.