MIRA INFORM REPORT

 

 

 

 

Report Date :

13.12.2013

 

IDENTIFICATION DETAILS

 

Name :

AL AMANAH AL KHALIJIA GENERAL TRADING CO WLL

 

 

Registered Office :

New Wholesale Market, Office No. 5, Block 3, Tumour Street, Shuwaikh Industrial Area, P O Box 28712 & 27109, Safat 13148

 

 

Country :

Kuwait

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

05.07.2005

 

 

Com. Reg. No.:

108239, Safat

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Wholesale and retail of general foodstuff products

 

 

No. of Employees :

18

 

 

 

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

 

SUMMARY

 

Company Name                                     : AL AMANAH AL KHALIJIA GENERAL TRADING CO WLL

Country of Origin                                    : Kuwait

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 5th July 2005

Commercial Registration Number            : 108239, Safat

Trade Licence Number                            : 3058/2005

Chamber Membership Number                : 96141

Issued Capital                                        : KD 150,000

Paid up Capital                                      : KD 150,000

Total Workforce                                     : 18

Activities                                               : Wholesale and retail of general foodstuff products.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Person Interviewed                                 : Bader Al Mutairi, Public Relations Manager

 

 

 

COMPANY NAME

 

AL AMANAH AL KHALIJIA GENERAL TRADING CO WLL

 

 

Company ADDRESS

 

Registered & Physical Address

Location            : New Wholesale Market, Office No. 5, Block 3

Street               : Tumour Street

Area                 : Shuwaikh Industrial Area

PO Box             : 28712 & 27109

Town                 : Safat 13148

Country             : Kuwait

Telephone         : (965) 24928133 / 22424104 / 22490223 / 22428384 / 24929990

Facsimile          : (965) 24927349

Mobile               : (965) 99062628 / 99781524 / 65029923 / 97291072

Email                : info@alamanahcorp.com / alamanah@alamanah.net

 

Premises

Subject operates from a medium sized suite of offices, a warehouse and a showroom that are rented and located in the Industrial Area of Safat.

 

 

KEY PRINCIPALS

 

     Name                                                          Nationality                   Position

 

·       Hashimya Sayed Ali                                        Kuwaiti                        Managing Director

·       Ali Ahmed Ali Mohamed                                  Afghani                       Director

·       Mohamed Ismail Mohamed                              Afghani                       Director

·       Mohamed Haroon                                                 -                            Commercial Manager

·       Sahib Al Zalazala                                                 -                            Sales Manager

·       Bader Al Mutairi                                                   -                            Public Relations Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 5th July 2005

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 108239, Safat

 

Trade Licence No.       : 3058/2005

 

Chamber Member No. : 96141

 

Issued Capital              : KD 150,000

 

Paid up Capital            : KD 150,000

 

Name of Shareholder (s)

·       Hashimya Sayed Ali

·       Ali Ahmed Ali Mohamed

·       Mohamed Ismail Mohamed

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of general foodstuff products, including rice, pulses, spices, sugar, edible oils, meat, pickles, frozen and canned foods.

 

Import Countries: India, Pakistan, Thailand, Egypt, USA, Canada, Burma, Pakistan, UAE, Malaysia, Spain, Syria, Oman, Brazil and Australia.

 

Brand Names: AKRAM, HAMZA, AL AMANAH, SANOBRY, AL KAZI and ASLAM

 

Operating Trend: Steady

 

Subject has a workforce of 18 employees.

 

 

FINANCIAL DATA

 

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 2,750,000                            KD 3,100,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Commercial Bank of Kuwait SAK

     Mubarak Al Kabir Street

     PO Box: 2861

     Safat 13029

     Tel: (965) 22411001

     Fax: (965) 22450150

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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.61.62

UK Pound

1

Rs.100.84

Euro

1

Rs.84.98

 

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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