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Report Date : |
25.07.2013 |
IDENTIFICATION DETAILS
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Name : |
OGAB AND HAMOUD AL MALEK TRADING CO WLL |
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Registered Office : |
Building No. 168, Block No. 2, Mohamed Bin Qassim Street, Ardiya Industrial Area, P O Box 20267, Safat 13603 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
18.02.1969 |
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Com. Reg. No.: |
15073 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Distributors of general foodstuff products |
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No. of Employees : |
150 |
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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 : OGAB AND HAMOUD AL MALEK TRADING CO WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 18th February 1969
Commercial Registration Number : 15073
Trade Licence Number : 732/1974
Chamber Membership Number : 3219
Issued Capital : KD 500,000
Paid up Capital : KD 500,000
Total Workforce : 150
Activities : Distributors of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Qaid Joher, Sales Manager
OGAB AND HAMOUD AL
MALEK TRADING CO WLL
Registered &
Physical Address
Building : Building No. 168, Block No. 2
Street : Mohamed Bin Qassim Street
Area : Ardiya
Industrial Area
PO Box : 20267
Town : Safat
13603
Country : Kuwait
Telephone : (965) 24710976 / 24332183 / 24332182
/ 24330706
Facsimile : (965) 24348804
Mobile : (965) 66392048
Email : ogabhm@ogabmalek.com / anil@ogabmalek.com
Premises
Subject operates
from a large suite of offices and warehousing covering an area of 5,000 sq metres that are rented and located in the Industrial Area
of Safat.
Name Nationality Position
·
Bhupinder Nath Malhotra Indian Managing
Director
·
Dharm Veer Malhotra Indian Director
·
Sheikh Ogab Malek Al Sabah Kuwaiti Director
·
Sheikh Hamoud Malek Al Sabah Kuwaiti Director
·
Qaid Joher - Sales
Manager
·
Mohamed
Ratlamwala - Financial
Controller
·
Anil
Philips - Administration
Executive
Date of Establishment : 18th
February 1969
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 15073
Trade Licence No. : 732/1974
Chamber Member No. : 3219
Issued Capital : KD 500,000
Paid up Capital : KD 500,000
Name of Shareholder
(s)
·
Bhupinder Nath Malhotra
·
Dharm Veer Malhotra
·
Sheikh Ogab Malek Al Sabah
·
Sheikh Hamoud Malek Al Sabah
·
Al Zahem And Malhotra General
Trading And Contracting Co WLL
Block No. 2, Plot No. 122/123
Street No. 6
Al Ardiya
Industrial Estate
PO Box: 251
Safat
13003
Tel: (965) 24338305
Fax: (965) 24338350 / 24338360
·
Ashraf & Malhotra Trading Co
Safat
·
Growmore General
Trading WLL
Safat
Activities: Engaged in the import and distribution of
general foodstuff products.
Import
Countries: India, Sri Lanka
and Europe.
Brand Names: MALEK, DIAMONDS,
MAHRAN and AL AREESH
Operating Trend: Steady
Subject has a
workforce of approximately 150 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 Revenue KD 5,000,000 KD 5,125,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Qaid Joher, Sales
Manager
·
Bank of
Kuwait & the Middle East KSC
Abdullah Al Salem Street
Darwaza Abdul Razzak
PO Box: 71
Safat 13001
Tel: (965) 22459771
Fax: (965) 22461430
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.45 |
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UK Pound |
1 |
Rs.91.24 |
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Euro |
1 |
Rs.78.44 |
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 |
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NB |
New Business |
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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.