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Report Date : |
22.09.2012 |
IDENTIFICATION DETAILS
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Name : |
ACTION CONSULTANCY BUREAU CO WLL |
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Registered Office : |
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Country : |
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Date of Incorporation : |
21.11.1993 |
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Com. Reg. No.: |
50726, Safat |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Subject operates several divisions like Oil & Energy
Division, Strategic, Economic & Management Division, Business Logistics
& Support Division |
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No. of Employees : |
35 |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Kuwait
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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.
Source : CIA
Company Name : ACTION CONSULTANCY BUREAU CO WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 21st November 1993
Commercial Registration Number : 50726, Safat
Trade Licence Number : 326/93
Chamber Membership Number : 39135
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Total Workforce : 35
Activities : Subject operates several divisions (see below for details)
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Jasper Crato, Marketing Manager
ACTION CONSULTANCY BUREAU CO WLL
Building : Ajial
Towers, C4B
Area : Fahaheel
PO Box : 3866
Town : Safat 13039
Country : Kuwait
Telephone : (965) 23911038
/ 23919578 / 22453017 / 22453018
Facsimile : (965) 23919576
/ 23911048 / 22453021
Email : info@acbkuwait.com
/ riad@actionkuwait.com
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Safat.
Name Position
· Sheikh Mubarak
Abdullah Mubarak Al Sabah Managing
Director
· Sheikha Souad
Mohamed Abdullah Al Sabah Director
· Sheikha Shima
Mohamed Abdullah Al Sabah Director
· Lynus Kalister Director
· Jasper Crato Marketing
Manager
Date of
Establishment : 21st
November 1993
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 50726, Safat
Trade Licence No. : 326/93
Chamber Member No. : 39135
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
· Action Group
Holding KSCC 100%
Rakan Tower, 27th
Floor
Al Shohada Street
Al Qibla
PO Box: 3866
Safat
Tel: (965)
22453017 / 22442777
Fax: (965)
22453021
· Action Group
Australia
· Action Real Estate
Co
Safat
· International Real
Estate
Safat
· Kuwait Dynamics
Limited
Safat
· KMIX
Safat
· Action Aggregate
Safat
· Bronzia Projects
Safat
· Action Hotels
Safat
· Lausanne Travel
& Tourism
Safat
· MRI - Action
Recruitment and Management
Safat
Activities: Subject’s activities are performed through the following divisions:
· Oil & Energy Division
This division covers all facets, issues and projects
for this sector in Kuwait and the Gulf Region.
· Strategic, Economic & Management Division
Covering all aspects of economic and
managerial consultancy from advice, to development of strategies and detailed
action plans to active participation in re-organisational and training
programmes.
· Business Logistics & Support Division
Specialises in the provision of back-up
support to international organisations with business involvement in Kuwait and
the Gulf Region.
Import Countries: Europe and the Far East.
International Suppliers:
· BP United Kingdom
Subject has a workforce of 35 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.
·
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.
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.53.90 |
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1 |
Rs.87.60 |
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Euro |
1 |
Rs.70.01 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.