|
Report Date : |
03.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
KUWAIT PROTEIN AND FAT PRODUCTION CO KSCC |
|
|
|
|
Registered Office : |
Al Sulaibaih Industrial Area, Plot No. 1, 5th
Ring Road, PO Box : 22967, Safat
13093 |
|
|
|
|
Country : |
Kuwait |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
09.05.1984 |
|
|
|
|
Com. Reg. No.: |
36631 |
|
|
|
|
Legal Form : |
Kuwaiti Shareholding Company |
|
|
|
|
Line of Business : |
Manufacturers of proteins and fats for animal fodder and edible
tallow. |
|
|
|
|
No. of Employees : |
30 |
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 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 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 :
KUWAIT PROTEIN AND FAT PRODUCTION CO KSCC
Country of Origin :
Kuwait
Legal Form :
Kuwaiti Shareholding Company - KSCC
Registration Date :
9th May 1984
Commercial Registration Number :
36631, Safat
Trade Licence Number :
10349
Chamber Membership Number :
15669
Issued Capital :
KD 500,000
Paid up Capital :
KD 500,000
Total Workforce :
30
Activities :
Manufacturers of proteins and fats for animal fodder and edible tallow.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Faisal Awad Habash, Director
KUWAIT PROTEIN AND FAT PRODUCTION CO KSCC
Registered &
Physical Address
Location : Al Sulaibaih Industrial Area, Plot No. 1
Street : 5th
Ring Road
PO Box : 22967
Town : Safat 13093
Country : Kuwait
Telephone : (965) 24672712
/ 22408923 / 24678024
Facsimile : (965) 24678054
Email : kfpfpco@yahoo.com
Please note that subject’s previous address was, Al Nafisi Building, 4th
Floor, Abdullah Mubarak Street, Safat.
Premises
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of Safat.
Name Position
Mubarak Hamd Mubarak Al Jimaz Chairman
Talal Mussad Al Saleh Managing
Director
Faisal Awad Habash Director
Mazen Habash Director
Date of Establishment : 9th
May 1984
Legal Form : Kuwaiti
Shareholding Company - KSCC
Commercial Reg. No. : 36631, Safat
Trade Licence No. : 10349
Chamber Member No. : 15669
Issued Capital : KD 500,000
Paid up Capital : KD 500,000
Name of
Shareholder (s)
Mussad Al Saleh Co
Safat
Al Masaleh Real Estate Co
Safat
Activities: Engaged in the
manufacture of proteins and fats for animal fodder and edible tallow.
Import Countries: Europe
and the Far East.
Operating Trend: Steady
Subject has a workforce of 30 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
2,300,000 KD
2,450,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Faisal Awad Habash, Director
Commercial Bank of Kuwait SAK
Mubarak Al Kabir Street
PO Box: 2861
Safat 13029
Tel: (965) 22411001
Fax: (965) 22450150
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.60.80 |
|
|
1 |
Rs.91.95 |
|
Euro |
1 |
Rs.80.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.