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Report Date : |
27.08.2013 |
IDENTIFICATION DETAILS
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Name : |
MUGHAL MAHAL GENERAL TRADING & CONTRACTING CO WLL |
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Registered Office : |
Jaber Al Mubarak Street,
Building No. 78, PO Box: 2386, Safat 13024 |
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Country : |
Kuwait |
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Date of Incorporation : |
15.05.1993 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Import and distribution of general foodstuff products |
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No. of Employees : |
450 |
RATING & COMMENTS
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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 : |
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 – 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 |
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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 :
MUGHAL MAHAL GENERAL TRADING & CONTRACTING CO WLL
Country of Origin : Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date :
15th May 1993
Commercial Registration Number :
50556
Trade Licence Number :
282/93
Chamber Membership Number :
35712
Issued Capital :
KD 50,000
Paid up Capital :
KD 50,000
Total Workforce :
450
Activities :
Import and distribution of general foodstuff products
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
MUGHAL MAHAL GENERAL TRADING & CONTRACTING CO WLL
Registered &
Physical Address
Location : Jaber Al Mubarak Street, Building No. 78
PO Box : 2386
Town : Safat 13024
Country : Kuwait
Telephone : (965) 22425131
/ 22425132 / 22459754
Facsimile : (965) 22421212
Premises
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Safat.
Note
Subject was previously located at Al Mawash Building, Murgab Borj,
Safat.
Branch Office (s)
Subject operates 10 showrooms located throughout Kuwait including Salmiya, Jahra, Farwaniya, Fahaheel and Fantaz.
Name Position
Ashok K. Kalera Managing
Director
Jitendara Suri Director
Khaled J. Al Jumaian Director
Saad Al Hussain Mubarak Director
Date of Establishment : 15th
May 1993
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 50556
Trade Licence No. : 282/93
Chamber Member No. : 35712
Issued Capital : KD 50,000
Paid up Capital : KD 50,000
Name of
Shareholder (s)
Ashok K. Kalera
Jitendara Suri
Khaled J. Al Jumaian
Saad Al Hussain Mubarak
Activities: Engaged in the import and
distribution of general foodstuff products. Subject are distributors of Indian Basmati
rice, Parboiled rice, spices and food stuffs from various reputed manufacturers
in India, including the Indianna brand of spices and food stuff.
Import Countries: India
Subject has a workforce of approximately 450 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
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 and the
above credit figure is within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.23 |
|
|
1 |
Rs.100.01 |
|
Euro |
1 |
Rs.85.93 |
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 |
|
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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.