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Report Date : |
23.11.2012 |
IDENTIFICATION DETAILS
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Name : |
NATIONAL MEDICAL & CATERING SUPPLIES CO KSCC |
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Registered Office : |
Sabhan Industrial Area, Block 11, Plot 1 & |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
06.03.1989 |
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Com. Reg. No.: |
9027, Safat |
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Legal Form : |
Kuwaiti Shareholding Company Closed - KSCC |
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Line of Business : |
Subject Operates Several Divisions like Medical Division, Catering Division, Cleaning Materials Division |
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No. of Employees : |
150 employees |
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
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
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.
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Source : CIA |
Company Name : NATIONAL MEDICAL & CATERING SUPPLIES CO KSCC
Country of Origin : Kuwait
Legal Form : Kuwaiti Shareholding Company Closed - KSCC
Registration Date : 6th March 1989
Commercial Registration Number : 9027, Safat
Trade Licence Number : 1079/2005
Chamber Membership Number : 21276
Issued Capital : KD 3,500,000
Paid up Capital : KD 3,500,000
Total Workforce : 150
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Anwar Ali, Finance Manager
NATIONAL MEDICAL & CATERING SUPPLIES CO KSCC
Registered &
Physical Address
Location : Sabhan Industrial
Area, Block 11, Plot 1 & 3
PO Box : 44369
Town : Hawalli
32058
Country : Kuwait
Telephone : (965) 24747875
Facsimile : (965) 24726430
Email : info@nmcs.com.kw / natmed@nmcs.com.kw
Premises
Subject operates from a medium sized suite of offices, a warehouse and
catering facilities that are owned and located in the Industrial Area of
Hawalli.
Branch Offices
Location Description
· Plot 1386 / 1387 /
1505 / 1767, Street 25 Showroom
and storage facilities
Al Rai Industrial
Area
Hawalli
Tel: (965)
24747876 / 24726427
Fax: (965)
25342329
Name Position
· Mohamed Abdullah
Al Sarraf Managing
Director
· Ahmed Abdullah Al
Sarraf Director
· Hisham Issa Al
Sultan Director
· Moez Ali Saddiq
Ali Director
· Ajit Parasad Commercial
Manager
· Anwar Ali Finance
Manager
· Nabil Butros
Murkos Public
Relations Manager
Date of Establishment : 6th March 1989
Legal Form : Kuwaiti
Shareholding Company Closed - KSCC
Commercial Reg.
No. : 9027, Safat
Trade Licence No. : 1079/2005
Chamber Member No. : 21276
Issued Capital : KD 3,500,000
Paid up Capital : KD 3,500,000
Name of Shareholder
(s)
· Mohamed Abdullah
Al Sarraf
· Ahmed Abdullah Al
Sarraf
· Hisham Issa Al
Sultan
· Moez Ali Saddiq
Ali
· United Factory for
Metal Lathing Workshop
PO Box: 44369
Hawalli 32058
Tel: (965)
24839768
Fax: (965)
24726430
Activities: Subject’s operations are performed by the following divisions:
·
Medical Division
Distributors of
medical supplies, pharmaceuticals, disposable medicine, laboratory equipment
and surgical instruments.
·
Catering Division
This
division is engaged in the provision of catering services for hospitals, public
institutions and hotels.
·
Cleaning Materials Division
Engaged in the import and distribution of cleaning agents, tools,
dispensers and hygienic paper products.
Import Countries: Switzerland, the United Kingdom and the United
States of America
Operating Trend: Steady
Subject has a workforce of approximately 150 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
6,864,000 KD
7,456,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Anwar Ali, Finance Manager
·
National Bank of Kuwait SAK
Main Branch
Hawalli
Tel: (965)
22653303
Fax: (965)
22611366
·
Commercial Bank of Kuwait SAK
Mubarak
Al Kabir Street
PO Box:
2861
Safat
13029
Tel:
(965) 22411001
Fax:
(965) 22450150
·
The 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.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.16 |
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UK Pound |
1 |
Rs.88.03 |
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Euro |
1 |
Rs.70.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.