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Report Date : |
07.09.2012 |
IDENTIFICATION DETAILS
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Name : |
AL AHLIYA GROUP CO WLL FOR FOODSTUFF &
CONSUMER PRODUCTS |
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|
|
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Registered Office : |
Ardiya Industrial
Area, P O Box 2280, Safat 13028 |
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|
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Country : |
Kuwait |
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Date of Incorporation : |
22.04.1996 |
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Com. Reg. No.: |
99646 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Distributors of general foodstuff products and fast moving consumer goods |
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No. of Employees : |
170 |
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 |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Kuwait |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 : AL AHLIYA GROUP CO WLL FOR FOODSTUFF & CONSUMER
PRODUCTS
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 22nd April 1996
Commercial Registration Number : 99646
Trade Licence Number : 1021/2004
Chamber Membership Number : 49458
Issued Capital : KD 500,000
Paid up Capital : KD 500,000
Total Workforce : 170
Activities : Distributors of general foodstuff products and fast moving consumer
goods.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Ali Mohamed Harba, General Manager
AL AHLIYA GROUP CO
WLL FOR FOODSTUFF & CONSUMER PRODUCTS
Registered &
Physical Address
Location : Ardiya Industrial Area
PO Box : 2280
Town : Safat 13028
Country : Kuwait
Telephone : (965) 24827064 / 24915017 / 24915018
/ 24827064
Facsimile : (965) 24813255
Mobile : (965) 99515936
Email : ahlia@qualitynet.com / ahliagroup@hotmail.com
Premises
Subject operates from
a large suite of offices and a warehouse that are rented and located in the
Industrial Area of Safat.
Branch Office (s)
Location Description
·
Shuwaikh
Industrial Area, Plot No. 3 Showroom
premises
Tel: (965) 67064041
Name Position
·
Mohamed
Khalid Nasser Al Noon Managing
Director
·
Khalid
Nasser Falah Al Noon Director
·
Ali
Mohamed Harba General
Manager
·
Mohamed
Salah Finance
Manager
·
Zakaria
Al Saie Sales
Manager
Date of Establishment : 22nd
April 1996
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 99646
Trade Licence No. :
1021/2004
Chamber Member No. : 49458
Issued Capital : KD 500,000
Paid up Capital : KD 500,000
Name of
Shareholder (s)
·
Mohamed
Khalid Nasser Al Noon
·
Khalid
Nasser Falah Al Noon
Activities: Engaged in the import and distribution of
general foodstuff products and fast moving consumer goods.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of approximately 170 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.
·
Al Ahli
Bank of
PO Box: 1387
Safat 13014
Tel: (965) 22411101 / 22411102
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.97 |
|
UK Pound |
1 |
Rs.89.02 |
|
Euro |
1 |
Rs.70.61 |
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.