|
Report Date : |
07.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
KIRBY BUILDING SYSTEMS COMPANY KSC (C) |
|
|
|
|
Registered Office : |
Mina Abdullah
Industrial Area, Shuaiba, P O Box 23933, Safat 13100 |
|
|
|
|
Country : |
Kuwait |
|
|
|
|
Date of Incorporation : |
22.12.1976 |
|
|
|
|
Com. Reg. No.: |
22938 |
|
|
|
|
Legal Form : |
Kuwaiti
Shareholding Company Closed |
|
|
|
|
Line of Business : |
Manufacturers of
steel structures and buildings. |
|
|
|
|
No. of Employees : |
825 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 |
|
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 |
Company Name :
KIRBY BUILDING SYSTEMS COMPANY KSC (C)
Country of Origin : Kuwait
Legal Form :
Kuwaiti Shareholding Company Closed -
KSC (C)
Registration Date : 22nd
December 1975
Commercial
Registration Number : 22938
Trade Licence
Number : 10573
Chamber Membership
Number : 4814
Issued Capital : KD
2,000,000
Paid up Capital : KD
2,000,000
Total Workforce : 825
Activities :
Manufacturers of steel structures and buildings.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Raheel
Ashraf, Finance Manager
KIRBY BUILDING
SYSTEMS COMPANY KSC (C)
Registered & Physical Address
Location : Mina Abdullah Industrial Area,
Shuaiba
PO Box : 23933
Town : Safat 13100
Country : Kuwait
Telephone : (965) 23261716 / 23262800 / 23262600 / 24842988 / 23260325
Facsimile : (965) 23261793 / 23261798
Email : kirby@alghanim.com / info@kirbyinternational.com / hkandath@algahnim.com
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Safat.
Name Position
·
Jassim
Mohamed Abdullah Al Zoziyahan Chairman
·
Nabil
Sulaiman General
Manager
·
Pradhish M Krishnan Commercial
Manager
·
Raheel
Ashraf Finance
Manager
·
Asayla
Kupeva Financial
Controller
·
Haridaz
Kandath Administration
Manager
Date of Establishment : 22nd
December 1975
Legal Form :
Kuwaiti Shareholding
Company Closed – KSC (C)
Commercial Reg. No. : 22938
Trade Licence No. : 10573
Chamber Member No. : 4814
Issued Capital : KD 2,000,000
Paid up Capital : KD 2,000,000
Name of Shareholder
(s) Percentage
·
Al
Ghanim Industries 100%
PO Box: 24172
Safat 13102
Tel: (965) 24881111
Fax: (965) 24847244
Activities: Engaged in the manufacture of structural
steel, pre-engineered buildings, cold formed buildings, and
storage solutions as well as
the provision of erection services.
Subject is ISO 9001:2000 accredited.
Import
Countries: Europe and GCC
countries
Subject has a
workforce of approximately 825 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.
·
Burgan
Bank
PO Box: 5875
Safat 13054
Tel: (965) 22410818
Fax: (965) 22410819
No complaints
regarding subject’s payments have been reported.
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
Established in 1975,
subject is involved in the manufacture of steel structures and buildings.
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.56.87 |
|
UK Pound |
1 |
Rs.87.65 |
|
Euro |
1 |
Rs.74.52 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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 |
|
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.