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Report Date : |
10.12.2013 |
IDENTIFICATION DETAILS
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Name : |
MRC INTERNATIONAL CO WLL |
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Registered Office : |
Al Safwa Tower, 6th
Floor, Mubarak Al Kabeer Street, Al Sharq Area, P O Box 26691, Safat 13127 |
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Country : |
Kuwait |
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Date of Incorporation : |
26.08.2013 |
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Com. Reg. No.: |
348307 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Importers & Distributors of general merchandise, specialising in scrap ferrous and non- ferrous metals. |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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.
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Source : CIA |
Company Name : MRC INTERNATIONAL CO WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 26th August 2013
Commercial Registration Number : 348307
Chamber Membership Number : 139814
Issued Capital : KD 10,000
Paid up Capital : KD 10,000
Total Workforce : 10
Activities : Distributors of general merchandise, specialising in scrap ferrous and
non- ferrous metals.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Dr Saad Shaji Saad Al Ajmi, Director
MRC INTERNATIONAL
CO WLL
Registered &
Physical Address
Building : Al Safwa Tower, 6th
Floor
Street : Mubarak Al Kabeer Street
Area : Al Sharq Area
PO Box : 26691
Town : Safat 13127
Country : Kuwait
Telephone : (965) 22472375
Facsimile : (965) 22472389
Mobile : (965) 99123470
Email : salajmi30@hotmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Safat.
Name Nationality Position
·
Keshoury
Sindhour Indian Managing
Director
·
Dr Saad Shaji Saad Al Ajmi Kuwaiti Director
Date of Establishment : 26th
August 2013
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 348307
Chamber Member No. : 139814
Issued Capital : KD 10,000
Paid up Capital : KD 10,000
Name of
Shareholder (s)
·
Keshoury
Sindhour
·
Dr Saad Shaji Saad Al Ajmi
·
Larosa Transportation
Safat
CR No. 60616
·
Trust International General Trading &
Contracting
Safat
Activities: Engaged in the import and distribution of
general merchandise, specialising in scrap ferrous and non-
ferrous metals.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 10 employees.
Subject is a newly
formed business and as a result financial information is not currently
available.
·
National
Bank of Kuwait SAK
Ali Awadi Tower
Ahmed Al Jaber Street
PO Box: 95
Safat 13001
Tel: (965) 23981188 / 23981189
Fax: (965) 23985643
Unknown
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.79 |
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UK Pound |
1 |
Rs.100.01 |
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Euro |
1 |
Rs.83.82 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
RATING EXPLANATIONS
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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 |
|
-- |
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.