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Report Date : |
23.04.2013 |
IDENTIFICATION DETAILS
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Name : |
YOUSEF AL
QURAISHI GENERAL TRADING & CONTRACTING CO WLL |
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|
|
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Registered Office : |
Al Manees
Complex, Building No. 4, 3rd Floor, Office No. 12, Section 13, P O
Box 44185, Hawalli |
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Country : |
Kuwait |
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Date of Incorporation : |
01.04.2007 |
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Com. Reg. No.: |
119943 |
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Legal Form : |
With Limited
Liability - WLL |
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Line of Business : |
Import and
Distribution of General Merchandise, Including Building and Construction
Equipment. |
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No. of Employees : |
7 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
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 102 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 and 2012 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 historically 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 :
YOUSEF AL QURAISHI GENERAL TRADING & CONTRACTING CO WLL
Country of Origin : Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date : 1st
April 2007
Commercial
Registration Number : 119943
Chamber Membership
Number : 107984
Issued Capital : KD
250,000
Paid up Capital : KD
250,000
Total Workforce : 7
Activities :
Distributors of general merchandise
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
YOUSEF AL QURAISHI
GENERAL TRADING & CONTRACTING CO WLL
Location : Al Manees Complex, Building No. 4,
3rd Floor, Office No. 12, Section 13
PO Box : 44185
Town : Hawalli
Country : Kuwait
Telephone : (965) 22498040
Facsimile : (965) 22498140 / 22497272
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Hawalli.
Name Position
·
Ismael
F Al Fahad Managing
Director
·
Salman
Y Bukanan Director
·
Yousef
K Al Deen Director
Date of Establishment : 1st April 2007
Legal Form : With Limited Liability - WLL
Commercial Reg. No. : 119943
Chamber Member No. : 107984
Issued Capital : KD 250,000
Paid up Capital : KD 250,000
·
Ismael
F Al Fahad
·
Salman
Y Bukanan
·
Yousef
K Al Deen
Activities : Engaged in the import and distribution of
general merchandise, including building and construction equipment.
Import Countries : Europe and India.
Subject has a
workforce of 7 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
Hawalli
Tel: (965) 22645964
No complaints
regarding subject’s payments have been reported.
Please note that we
were unable to contact the subject directly during our investigation.
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.54.17 |
|
|
1 |
Rs.82.45 |
|
Euro |
1 |
Rs.70.70 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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 |
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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 |
|
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.