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Report Date : |
26.04.2013 |
IDENTIFICATION DETAILS
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Name : |
CRESCENT COMMERCIAL CO WLL |
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Registered Office : |
Plot No. A, Building
No. 45, Road No. 85, Shuwaikh Industrial Area, P O Box 1904, Safat 13020 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
29.01.1963 |
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Com. Reg. No.: |
7876, Safat |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Distributors of general foodstuff products |
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No. of Employees : |
18 |
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 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 : CRESCENT COMMERCIAL CO WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 29th January 1963
Commercial Registration Number : 7876, Safat
Trade Licence Number : 686/74
Chamber Membership Number : 332
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Total Workforce : 18
Activities : Distributors of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Amrat Lal Babu Lal Thakker, Director
CRESCENT COMMERCIAL
CO WLL
Registered &
Physical Address
Location : Plot No. A, Building No. 45
Street : Road No. 85
Area : Shuwaikh Industrial Area
PO Box : 1904
Town : Safat 13020
Country : Kuwait
Telephone : (965) 24819422 / 24840995 / 24840996
/ 24830344 / 24848611 / 24818579 / 22416098
Facsimile : (965) 24842643 / 22429370
/ 66868330
Mobile : (965) 66869645
Email : cresent.commercial@gmail.com / crescent@qualitynet.net
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Safat.
Name Nationality Position
·
Alkish
Batmark Thakker Indian Managing
Director
·
Amrat
Lal Babu Lal Thakker Indian Director
·
Mohamed
Yousef Al Kandari Kuwait Director
Date of Establishment : 29th
January 1963
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 7876, Safat
Trade Licence No. : 686/74
Chamber Member No. : 332
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Name of
Shareholder (s)
·
Alkish
Batmark Thakker
·
Amrat Lal
Babu Lal Thakker
·
Mohamed
Yousef Al Kandari
Activities: Engaged in the import and distribution of
general foodstuff products, including dried foods and pulses.
Import
Countries: Europe and GCC
countries
International
Suppliers:
·
United
Food Company Dubai, United Arab
Emirates
·
Turtlewax
Ltd United Kingdom
·
Mersi
Food Industries Pakistan
Operating Trend: Steady
Subject has a
workforce of 18 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 2,850,000 KD 3,180,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Commercial
Bank of Kuwait SAK
Mubarak Al Kabir Street
PO Box: 2861
Safat 13029
Tel: (965) 22411001
Fax: (965) 22450150
·
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.
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 |
|
UK Pound |
1 |
Rs.82.99 |
|
Euro |
1 |
Rs.70.62 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
---- |
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.