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Report Date : |
22.07.2013 |
IDENTIFICATION DETAILS
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Name : |
CRYSTAL CUP TRADING COMPANY WLL |
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Registered Office : |
Al Jazi Complex Al Sharq Area PO Box 258 Dasma 35151 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
28.02.2004 |
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Com. Reg. No.: |
98889, Dasma |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Wholesalers and retailers of household products |
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No. of Employees : |
11 |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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.
Source
: CIA
Company Name : CRYSTAL CUP TRADING COMPANY WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 28th February 2004
Commercial Registration Number : 98889, Dasma
Trade Licence Number : 552/2004
Chamber Membership Number : 86640
Issued Capital : KD 20,000
Paid up Capital : KD 20,000
Total Workforce : 11
Activities : Wholesalers and retailers of household products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Reda Hussain Mohamadi, Director
CRYSTAL CUP TRADING COMPANY WLL
Building : Al Jazi
Complex
Area : Al Sharq
Area
PO Box : 258
Town : Dasma 35151
Country : Kuwait
Telephone : (965) 22471671
/ 22471641
Facsimile : (965) 22471642
Mobile : (965)
99360012 / 99889054
Email : crys_cup@qualitynet.net
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dasma.
Branch Office (s)
Location Description
· Shuwaikh
Industrial Area Warehouse
premises
Tel: (965) 4828498
Name Nationality Position
· Ahmed Hassan
Saffar Mohamed - Managing
Director
· Mohamed Reda Hussain
Mohamadi Iranian Director
· Ahmed Reda Ghulam Abbass Darwi - Director
· Ali Reda - Sales
Manager
Date of
Establishment : 28th
February 2004
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 98889, Dasma
Trade Licence No. : 552/2004 (Expires 18/03/2014)
Chamber Member No. : 86640
Issued Capital : KD 20,000
Paid up Capital : KD 20,000
· Ahmed Hassan
Saffar Mohamed
· Mohamed Reda
Hussain Mohamadi
· Ahmed Reda Ghulam Abbass Darwi
Activities: Engaged in the wholesale and retail of household products.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 11 employees.
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
1,100,000 KD
1,180,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
National Bank of Kuwait SAK
Main Branch
Dasma
Tel: (965) 22531697
Fax: (965) 22526485
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.59.79 |
|
|
1 |
Rs.91.03 |
|
Euro |
1 |
Rs.78.52 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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 |
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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.