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Report Date : |
09.02.2013 |
IDENTIFICATION DETAILS
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Name : |
Captain Fisheries Foodstuff Co LLC |
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Registered Office : |
Omar Ibn
Khattab Street, P O Box 22448, Safat 13085 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
07.08.2011 |
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Com. Reg. No.: |
114356, Sqafat |
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Legal Form : |
With Limited
Liability - WLL |
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Line of Business : |
Import and
Distribution of Fish and Meat. |
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No. of Employees : |
15 |
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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Kuwait |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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 104 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 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 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 :
CAPTAIN FISHERIES FOODSTUFF CO LLC
Country of Origin :
Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date :
7th August 2011
Commercial Registration Number :
114356, Safat
Chamber Membership Number :
129167
Issued Capital :
KD 20,000
Paid up Capital :
KD 20,000
Total Workforce :
15
Activities :
Distributors of fish and meat
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
CAPTAIN FISHERIES FOODSTUFF
CO LLC
Location : Omar Ibn Khattab Street
PO Box : 22448
Town : Safat 13085
Country : Kuwait
Telephone : (965) 22411630
Facsimile : (965) 22470296
Email : cff2kwt@gmail.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Safat.
Name Position
·
Ali
Mohamed Ali Al Dakhan Managing
Director
·
Saud Ali
Mohamed Ali Al Dakhan Director
·
Mohamed
Ali Mohamed Ali Al Dakhan Director
·
Yousef
Ali Mohamed Ali Al Dakhan Director
·
Limya
Ali Mohamed Ali Al Dakhan Director
·
Mohan
Daz General
Manager
·
Sree
Kumar Sales
Manager
Date of Establishment : 7th August 2011
Legal Form : With Limited Liability - WLL
Commercial Reg. No. : 114356, Safat
Chamber Member No. : 129167
Issued Capital : KD 20,000
Paid up Capital : KD 20,000
·
Ali
Mohamed Ali Al Dakhan
·
Saud
Ali Mohamed Ali Al Dakhan
·
Mohamed
Ali Mohamed Ali Al Dakhan
·
Yousef
Ali Mohamed Ali Al Dakhan
·
Limya
Ali Mohamed Ali Al Dakhan
Activities: Engaged
in the import and distribution of fish and meat.
Import
Countries: Europe and the Far East.
Subject has a
workforce of 15 employees.
Financial
highlights provided by local sources are given below:
Currency: Kuwaiti
Dinars (KD)
Year
Ending 31/12/12:
Total Sales KD
750,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Kuwait
Finance House (KFH)
Safat Square
Abdullah Al Mubarak Street
PO Box: 24989
Safat 13110
Tel: (965) 22445050
Fax: (965) 22455135
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.53.57 |
|
|
1 |
Rs.84.25 |
|
Euro |
1 |
Rs.71.79 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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 |
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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.