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Report Date : |
23.01.2013 |
IDENTIFICATION DETAILS
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Name : |
ANWAR AL SHARQIYA TRADE EST |
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Registered Office : |
Al Zuwaikh Building, Office No. 2, Ground
Floor, Plot No. 55 Al Matafi Street PO Box 41098, Jaleeb Al Sheyoukh 85851
Farwaniya |
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Country : |
Kuwait |
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Date of Incorporation : |
26.04.2011 |
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Com. Reg. No.: |
338064 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of tents and related fabrics as well as general foodstuff products. |
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No. of Employees : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
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 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.
Source
: CIA
Company Name : ANWAR AL SHARQIYA TRADE EST
Country of Origin : Kuwait
Legal Form : Sole Proprietorship
Registration Date : 26th April 2011
Commercial Registration Number : 338064
Trade Licence Number : 3881/2007
Chamber Membership Number : 127699
Invested Capital : KD 25,000
Total Workforce : 4
Activities : Distributors of tents and related fabrics as well as general foodstuff
products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed :
Hussain
Mahdi Ali, General Manager
COMPANY
NAME
ANWAR AL SHARQIYA TRADE EST
Building : Al Zuwaikh Building, Office No. 2, Ground Floor, Plot No. 55
Street : Al Matafi Street
PO Box : 41098, Jaleeb
Al Sheyoukh 85851
Town : Farwaniya
Country : Kuwait
Telephone : (965) 24763172
Facsimile : (965) 24333001 / 23260252
Mobile : (965) 66018081 / 99878770
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Farwaniya.
Name Position
· Ibitsam Hassan Essa Proprietor
· Hussain Mahdi Ali General
Manager
Date of
Establishment : 26th
April 2011
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 338064
Trade Licence No. : 3881/2007 (Expired 27/05/2011)
Chamber Member No. : 127699
Invested Capital : KD 25,000
Ms Ibitsam Hassan Essa is the sole
proprietor of the business.
Activities: Engaged in the import and distribution of tents and related fabrics as
well as general foodstuff products.
Import Countries: Europe and the Far East.
Subject has a workforce of 4 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.
·
Commercial Bank of Kuwait SAK
Farwaniya
Tel :
(965) 24744808
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.51 |
|
|
1 |
Rs.84.85 |
|
Euro |
1 |
Rs.71.43 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
|
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.