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Report Date : |
15.04.2013 |
IDENTIFICATION DETAILS
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Name : |
ARABIAN BEVERAGE CO KSCC |
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Registered Office : |
Block No. 5 Street No. 103 Subhan Industrial Area PO Box 3022 Safat
13031 |
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Country : |
Kuwait |
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Date of Incorporation : |
02.08.1960 |
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Com. Reg. No.: |
6896 |
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Legal Form : |
Kuwaiti Shareholding Company Closed - KSCC |
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Line of Business : |
Producers of natural juices, milk and mineral water |
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|
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No. of Employees : |
180 |
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 (31.03.2011) |
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 : ARABIAN BEVERAGE CO KSCC
Country of Origin : Kuwait
Legal Form : Kuwaiti Shareholding Company Closed - KSCC
Registration Date : 2nd August 1960
Commercial Registration Number : 6896
Trade Licence Number : 703/2001
Chamber Membership Number : 1427
Issued Capital : KD 3,000,000
Paid up Capital : KD 3,000,000
Total Workforce : 180
Activities : Producers of natural juices, milk and mineral water
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
ARABIAN BEVERAGE CO KSCC
Location : Block No. 5
Street : Street No.
103
Area : Subhan
Industrial Area
PO Box : 3022
Town : Safat 13031
Country : Kuwait
Telephone : (965) 1802066 /
24736902 / 24736716 / 24736472
Facsimile : (965) 24722793
Email : admin@abcjuice.com.kw
Subject operates from a large suite of offices and a factory that are
owned and located in the Industrial Area of Safat.
Branch Offices
Location Description
· Emad Commercial
Center, 2nd Floor Office
premises
Ahmed Al Jaber
Street
Safat
Tel: (965)
22479730
Fax: (965)
22479734
Name Position
· Adnan Abdul Nabi Mohamed
Al Mousa Chairman
· Dr Mohamed Wael Al
Mohana Assistant
General Manager
· Ayman Samir Hassan
Sayed Finance
Manager
· Bader Al Ustaz Commercial
Manager
· Sayed Mansour Sales
Manager
· Majid Abdulrahman Purchasing
Manager
Date of
Establishment : 2nd
August 1960
Legal Form : Kuwaiti
Shareholding Company Closed - KSCC
Commercial Reg.
No. : 6896
Trade Licence No. : 703/2001
Chamber Member No. : 1427
Issued Capital : KD 3,000,000
Paid up Capital : KD 3,000,000
· Bukhamseen Holding
Co
Safat
· Jawad Ahmed Bu
Khamseen
· Emad Jawad Ahmed
Bu Khamseen
· Raed Jawad Ahmed
Bu Khamseen
· Anwar Jawad Ahmed
Bu Khamseen
· Osama Jawad Ahmed
Bu Khamseen
Subject belongs to the Bukhamseen Holding
group of companies that consists of the following concerns:
· Kuwait
International Company for Education
· Kuwait Pearl
Institute for Model Education
· Bukhamseen
International Group of Contractors
· Osama Bukhamseen
Design Engineering & Consultants
· The Interiors
Collaborative – Architectural and Interior Design
· Arab Investment
Company
· CREDIT ONE Holding
Company
· Al Houda Hotels
and Tourism Company
· The Crowne Plaza
Hotel
· The Holiday Inn
· Staybridge Suites
· InterContinental
Hotel & Tower
· The Rotana Hotel
· The Sofitel Maadi
Towers Hotel
· The Safir Sayedah
Zeinab Hotel
· The United Steel
Industry Company
· Profile Experts
for Aluminium Industries Company
· Warba Insurance
Company
· Ritaj Takaful
Insurance Company
· Middle East Insurance
Brokerage Bureau
· Kuwait National
Cinema Company
· Kuwait Cable
Vision
· Dar Annahar for
Press, Publishing and Distribution
· Al Barakah Media
Group
· Bariq Al-Dana
Magazine
· Al Arabiya Real
Estate Company
· The Commercial
Real Estate Company
· Tanmiya Realty Development
Company
· Al Nojoom Real
Estate Company
· Kuwait Barrari
Trading Company
· The Real Estate
Development Company
· Al Emad Real
Estate Company
· Al Barakah Kuwait
General Trading & Contracting Company
· Gulf International
Real Estate Company
· Misr Towers International
Company
· The Sayedah Zeinab
Company for Tourism and Visit
· Middle East
Investment Company
· The
Kuwaiti-Lebanese Real Estate Rental Company
· The National Arab
Company for Restaurants Management
· Rib Eye Steakhouse
· Shabestan Iranian
Restaurant
· Al Ahmadi
International Restaurant
· Fauchon Boutique
and Salon de Thé
· Ayam Zaman
Lebanese
· Sakura Japanese
· L’Aroma Café
· Al Noukhaza
Seafood
· Tang Chao Chinese
· Peppes Pizza
· Ruby Tuesday
· Bukhamseen General
Trading Company
· Azzad Trading
Group
· Gulf Energy
Company
· Eqarat.com
· Strategic
Technologies & Solutions Holding Group (STS)
· Global Logistic
Services and Warehousing Company
· Kuwait
International Automobile Club Company
· Osama Real Estate
Office
· The First Date
Palms & Agricultural Services Company
· Arab Company for Logistic
Services
· Al Huda Medical
Services Company
· The Arab Showrooms
and Trading Company
· Bukhamseen Travels
& Tourism
· Al Madina Travels
Company
· Al Madina Cargo
Company
· National Aviation
Centre
Activities: Engaged in the production of natural juices, milk and mineral water.
Subject has approximately 420
distribution trucks.
In June 2011 subject announced plans to double its water production
capacity to 240 million units per year
and its distribution fleet to 800 trucks.
Export Countries: Yemen, Iraq, Jordan, Saudi, Bahrain and Qatar.
Brand Names: JUDA and ABC
Subject has a workforce of approximately 180 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.
·
The Gulf Bank KSC
Mubarak Al Kabir Street
PO Box: 3200
Safat 13033
Tel: (965) 22449501
Fax: (965) 22445212
·
Al Ahli Bank of Kuwait KSC
Mubarak Al Kabir Street
PO Box: 1387
Safat 13033
Tel: (965) 2411101 / 2411102
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.54.44 |
|
|
1 |
Rs.83.77 |
|
Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.