|
Report Date : |
02.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
ALI AL ZAMEL
FOODSTUFF EST |
|
|
|
|
Registered Office : |
Ibrahim Janah
Akhwan Building, Abdullah Mubarak Street, Murgab Area 1248, Safat 13013 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
13.01.1976 |
|
|
|
|
Com. Reg. No.: |
16760, Safat |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Distributors of dried
foodstuffs and spices. |
|
|
|
|
No. of Employees : |
63 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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 : ALI AL
ZAMEL FOODSTUFF EST
Country of Origin : Kuwait
Legal Form :
Sole Proprietorship
Registration Date : 13th
January 1976
Commercial
Registration Number : 16760,
Safat
Trade Licence
Number : 381/72
Chamber Membership
Number : 4865
Invested Capital : KD 15,000
Total Workforce : 63
Activities :
Distributors of dried foodstuffs and spices.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Deepak Shobash
Jolly, Assistant General Manager
ALI AL ZAMEL
FOODSTUFF EST
Building : Ibrahim Janah Akhwan Building
Street : Abdullah Mubarak Street
Area : Murgab Area
PO Box : 1248
Town : Safat 13013
Country : Kuwait
Telephone : (965) 22410567 / 24823516 / 25641805
Facsimile : (965) 22429474
Mobile : (965) 99074119
Email : sonikawat@hotmail.com / info@alzamilfoods.com
Subject operates
from a medium sized suite of offices and a warehouse that are owned and located
in the Central Business Area of Safat.
Branch Office
(s)
Location Description
·
Building
No. 98, Plot No. 2 Warehouse
premises
Ardiya Industrial Area
Tel: (965) 24314405
Fax: (965) 24340450
Name Position
·
Ali Abdulrahman
Abdullah Al Zamel Proprietor
& General Manager
·
Deepak
Shobash Jolly Assistant
General Manager
·
Shobash
Tchander Jolly Administration
Manager
·
Nasser
Allam Sales
Manager
·
Vijay
Kumar Financial
Controller
Date of Establishment : 13th
January 1976
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 16760, Safat
Trade Licence No. : 381/72
Chamber Member No. : 4865
Invested Capital
: KD 15,000
Mr Ali Abdulrahman
Abdullah Al Zamel is the sole proprietor of the business.
·
Winners
Restaurant Co WLL
PO Box: 1248
Safat 13013
Activities: Engaged in the import and distribution of
dried foodstuffs and spices.
Import
Countries: Europe and the
Far East.
International
Suppliers:
·
Kohi
Nour Rice India
·
Khater
Olive Spain
·
Dietri
Pasta Italy
Operating Trend: Steady
Subject has a
workforce of 63 employees.
Financial
highlights provided by local sources are given below:
Currency: Kuwaiti Dinar
(KD)
Year
Ending 31/12/10: Year Ending
31/12/11:
Total Sales KD 1,720,000 KD 1,950,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Deepak Shobash Jolly, Assistant General Manager
·
National
Bank of Kuwait SAK
Ali Awadi Tower
Ahmed Al Jaber Street
PO Box: 95
Safat 13001
Tel: (965) 23981188 / 23981189
Fax: (965) 23985643
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.52.78 |
|
|
1 |
Rs.85.16 |
|
Euro |
1 |
Rs.67.78 |
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 |
|
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.