|
Report Date : |
10.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
AL KHADDA INTERNATIONAL GENERAL TRADING &
CONTRACTING CO WLL |
|
|
|
|
Registered Office : |
Plot No.
8, Block 43, Street No. 41, East Ahmadi, P O Box 7178, Fahaheel 64002 |
|
|
|
|
Country : |
Kuwait |
|
|
|
|
Date of Incorporation : |
18.06.1960 |
|
|
|
|
Com. Reg. No.: |
69796 |
|
|
|
|
Legal Form : |
With Limited Liability |
|
|
|
|
Line of Business : |
Engineering, procurement
and construction of all types of mechanical, electrical, civil and
instrumentation projects mainly in the petrochemical and public works sectors |
|
|
|
|
No. of Employees : |
270 |
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 : AL KHADDA
INTERNATIONAL GENERAL TRADING &
CONTRACTING CO WLL
Country of Origin : Kuwait
Legal Form :
With Limited Liability – WLL
Start Date :
18th June 1960
Registration Date : 7th
February 2001
Commercial Registration
Number : 69796
Trade Licence Number : 72/2001
Chamber Membership Number : 804126
Issued Capital : KD
1,200,000
Paid up Capital : KD
1,200,000
Total Workforce : 270
Activities :
Engineering, procurement and construction of all types of mechanical,
electrical, civil and instrumentation
projects mainly in the petrochemical
and public works sectors
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
AL KHADDA INTERNATIONAL
GENERAL TRADING & CONTRACTING CO WLL
Registered & Physical
Address
Location : Plot No. 8,
Block 43
Street : Street No.
41
Area : East Ahmadi
PO Box : 7178
Town : Fahaheel
64002
Country : Kuwait
Telephone : (965) 23985338
/ 23985827 / 23983401 / 23987925
Facsimile : (965) 23981049
Email : info@alkhadda.net
Premises
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Fahaheel.
Name Position
·
Mohamed Bu Raqbah Al Otaibi Chairman
·
Hosam Nasar Hanif Almuzaiel Director
·
Jassim Mohammed Ahmed
Albsharah Director
·
Abdullah Tarek Sami Sultan
Alessa Director
·
Khaled Salem Abdulaziz
Alsaoud Alsabah Director
·
Adel Al Sayed Project
Manager
·
Hani Sameer Sales
Manager
·
Mohamed Hamad Financial
Controller
·
Mohamed Al Dujaini Finance
Manager
Date of Establishment : 18th
June 1960, however subject was registered on 7th February 2001.
Legal Form : With Limited Liability - WLL
Commercial Reg. No. : 69796
Trade Licence No. : 72/2001
Chamber Member No. : 804126
Issued Capital : KD 1,200,000
Paid up Capital : KD 1,200,000
Name of Shareholder
(s) Percentage
·
Equipment
Holding Co KSC (C) 100%
Safat
Tel: (965) 24812400
Fax: (965) 24814399
·
Equipment Co WLL
·
Future Ready Mix Concrete
Plant Factory
Activities: Engaged in the engineering,
procurement and construction of all types of mechanical, electrical, civil
and instrumentation projects mainly in
the petrochemical and public works sectors.
Subject’s
activities include, construction of pump and compressor stations,
construction of pipelines, grit
blasting, painting, coating, wrapping and cleaning of vessels, pipework
and structural steel, prefabrication
and installation works for vessels, installation and commissioning of
vessels, general electrical works,
general instrumentation works and general civil works.
Subject has
a workforce of approximately 270 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
Fahaheel
Tel: (965)
23922776
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.54.46 |
|
UK Pound |
1 |
Rs.83.13 |
|
Euro |
1 |
Rs.70.99 |
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.