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Report Date : |
24.11.2012 |
IDENTIFICATION DETAILS
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Name : |
WADI |
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Registered Office : |
Al Qibla Area, |
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Country : |
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Date of Incorporation : |
03.07.2012 |
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Com. Reg. No.: |
103888 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of foodstuffs and general merchandise |
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No. of Employees : |
06 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
---- |
NB |
New Business |
---- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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) |
|
Kuwait |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 : WADI AL SAFFRON EST FOR IMPORT EXPORT AND COMMISSION
AGENTS
Country of Origin : Kuwait
Legal Form : Sole Proprietorship
Registration Date : 3rd July 2012
Commercial Registration Number : 103888
Trade Licence Number : 2563/2012
Chamber Membership Number : 134019
Invested Capital : KD 20,000
Total Workforce : 6
Activities : Distributors of foodstuffs and general merchandise
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
WADI AL SAFFRON EST
FOR IMPORT EXPORT AND COMMISSION AGENTS
Registered &
Physical Address
Location : Al Qibla Area
PO Box : 291
Town : Safat 13003
Country : Kuwait
Telephone : (965) 22463360
Facsimile : (965) 22463360
Mobile : (965) 97810749 / 99856514
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Safat.
Name Position
·
Khadijah
Namat Turabi Proprietor
& General Manager
·
Ahmed
Abdul Salam Financial
Controller
·
Mostafa
Mahmoud Administration
Executive
Date of Establishment : 3rd
July 2012
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 103888
Trade Licence No. :
2563/2012
Chamber Member No. : 134019
Invested Capital
: KD 20,000
Mrs. Khadijah Namat
Turabi is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
foodstuffs and general merchandise.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 6 employees.
Subject is a newly
formed business and as a result financial information is not currently
available.
·
Commercial
Bank of Kuwait SAK
Mubarak Al Kabir Street
PO Box: 2861
Safat 13029
Tel: (965) 22411001
Fax: (965) 22450150
No complaints
regarding subject’s payments have been reported.
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
UK Pound |
1 |
Rs.88.30 |
|
Euro |
1 |
Rs.71.37 |
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 |
|
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.