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Report Date : |
15.04.2013 |
IDENTIFICATION DETAILS
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Name : |
HUSSAIN AND QAISAR INTERNATIONAL LTD |
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Registered Office : |
Street No. 22, Block
No. 1 Shuwaikh Industrial Area, Oxygen Roundabout PO Box 2106 Safat 13022 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
26.08.1973 |
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Com. Reg. No.: |
19220 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Distributors of general foodstuffs |
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No. of Employees : |
45 |
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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Kuwait |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 : HUSSAIN AND QAISAR INTERNATIONAL LTD
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 26th August 1973
Commercial Registration Number : 19220
Trade Licence Number : 595/99
Chamber Membership Number : 2504
Issued Capital : KD 113,000
Paid up Capital : KD 113,000
Total Workforce : 45
Activities : Distributors of general foodstuffs
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Anil Lobo, Sales Manager
HUSSAIN AND QAISAR INTERNATIONAL
LTD
Street : Street No. 22, Block No. 1
Area : Shuwaikh Industrial Area,
Oxygen Roundabout
PO Box : 2106
Town : Safat 13022
Country : Kuwait
Telephone : (965) 24842781 / 24842701 / 2481045
Facsimile : (965) 24842779 / 24839128
Email : oldman@hussain-qaisar.com / hassan@hussain-qaisar.com / zahid@hussain-qaisar.com
Subject operates
from a medium sized suite of offices that are rented and located in the
Industrial Area of Safat.
Name Position
·
Hassan
Iqbal Qaisar Ali Merchant Managing
Director
·
Zahid Hussain
Merchant Director
·
Sayed
Hussain S Behbehani Director
·
Anil
Lobo Sales
Manager
Date of Establishment : 26th
August 1973
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 19220
Trade
Licence No. : 595/99
Chamber Member No. : 2504
Issued Capital : KD 113,000
Paid up Capital : KD 113,000
·
Hassan
Iqbal Qaisar Ali Merchant
·
Zahid
Hussain Merchant
·
Sayed
Hussain S Behbehani
Activities: Engaged in the import and distribution of
general foodstuffs, including food additives, spices, beans,
pulses, cereal, herbs, dried
fruit, nuts, coffee and animal feed.
Import
Countries: Europe and the
Far East.
Brand Names: ROQUETTE, AHMED, QAISAR, QUIK-SERV, CHOICE
and NAURUS SUNDIP
Operating Trend: Steady
Subject has a
workforce of 45 employees.
Financial
highlights provided by local sources are given below:
Currency: Kuwaiti
Dinars (KD)
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Sales KD 2,100,000 KD 2,225,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Bank of Kuwait SAK
Ali Awadi Tower
Ahmed Al Jaber Street
PO Box: 95
Safat 13001
Tel: (965) 23981188 / 23981189
Fax: (965) 23985643
No complaints
regarding subject’s payments have been reported.
According to local sources,
subject meets its payment obligations in a timely manner and 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 |
|
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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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.