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Report Date : |
13.04.2013 |
IDENTIFICATION DETAILS
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Name : |
ARKNT GLOBAL GROUP FOR GENERAL TRADING AND CONTRACTING WLL |
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Registered Office : |
Zogruf Complex, 5th Floor, Office No. 42, Beirut Street, PO
Box 47925 & 44711, Fahaheel 64030 |
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Country : |
Kuwait |
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Date of Incorporation : |
18.02.2009 |
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Com. Reg. No.: |
340253 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Subject’s operations are performed through the following divisions: Steel and Pipe Division, Foodstuff Division,
Contracting Division |
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No. of Employees : |
133 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Kuwait |
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.
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Source : CIA |
Company Name :
ARKNT GLOBAL GROUP FOR GENERAL TRADING AND
CONTRACTING WLL
Country of Origin :
Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date :
18th February 2009
Commercial Registration Number :
340253
Trade Licence Number :
2102/2011
Chamber Membership Number :
118191
Issued Capital :
KD 650,000
Paid up Capital :
KD 650,000
Total Workforce :
133
Activities :
Subject operates several divisions (see below for details)
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Mohamed Qandeel, Finance Manager
ARKNT GLOBAL GROUP FOR GENERAL TRADING AND CONTRACTING WLL
Registered &
Physical Address
Building : Zogruf
Complex, 5th Floor, Office No. 42
Street : Beirut
Street
PO Box : 47925 &
44711
Town : Fahaheel
64030
Country : Kuwait
Telephone : (965) 22667041
/ 23715004 / 67799332
Facsimile : (965) 22667043
/ 23715009
Email : gandeel@arknt.com
Premises
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Fahaheel.
Name Position
Abdullah Fahd Mohamed Al Hajeri Managing
Director
Saeed Abdullah Mohamed Al Hajeri Director
Nasser Abdullah Al Hajeri General
Manager
Mohamed Qandeel Finance
Manager
Tamer Alwan Steel
and Pipe Sales Manager
Tony Saadah Foodstuff
Sales Manager
Ahmed Al Mashaal Projects
Manager
Date of Establishment : 18th
February 2009
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 340253
Trade Licence No. : 2102/2011
Chamber Member No. : 118191
Issued Capital : KD 650,000
Paid up Capital : KD 650,000
Name of Shareholder
(s)
Abdullah Fahd Mohamed Al Hajeri
Saeed Abdullah Mohamed Al Hajeri
Activities: Subject’s operations are performed through the following divisions:
Steel and Pipe Division
Engaged in the import and distribution of carbon
steel pipe, ductile and PVC pipe, air and pressure valves.
Foodstuff Division
Engaged in the import and distribution of
general foodstuff
Contracting Division
Engaged in the provision of general contractors for pipes and
construction.
Import Countries: Saudi Arabia and the United Kingdom.
Agencies Held:
NADEK Saudi Arabia
P R Marriot United Kingdom
Subject has a workforce of 133 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.
Bank of Kuwait & the Middle East KSC
Abdullah Al Salem Street
Darwaza Abdul Razzak
PO Box: 71
Safat 13001
Tel: (965) 22459771
Fax: (965) 22461430
No complaints regarding subject’s payments have been reported.
Local sources report
that subject meets its payments in a timely manner and is considered to be a
fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.44 |
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|
1 |
Rs.83.77 |
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Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.