|
Report Date : |
19.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
AL BARQ ALI QLIMI GENERAL TRADING AND CONTRACTING WLL |
|
|
|
|
Registered Office : |
Tumoor Street, Shuwaikh Industrial Area, PO Box 4785, Salmiya 22048 |
|
|
|
|
Country : |
Kuwait |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
10.04.2006 |
|
|
|
|
Com. Reg. No.: |
111647 |
|
|
|
|
Legal Form : |
With Limited Liability - WLL |
|
|
|
|
Line of Business : |
Distributors of coffee, spices and nuts |
|
|
|
|
No. of Employees : |
15 |
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 : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 :
AL BARQ ALI QLIMI GENERAL TRADING AND CONTRACTING WLL
Country of Origin :
Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date :
10th April 2006
Commercial Registration Number :
111647
Trade Licence Number :
6640/2005
Chamber Membership Number :
100956
Issued Capital :
KD 150,000
Paid up Capital :
KD 150,000
Total Workforce :
15
Activities :
Distributors of coffee, spices and nuts
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Munzer Hisham Zaidan, Managing Director
AL BARQ ALI QLIMI GENERAL TRADING AND CONTRACTING WLL
Street : Tumoor
Street
Area : Shuwaikh
Industrial Area
PO Box : 4785
Town : Salmiya 22048
Country : Kuwait
Telephone : (965) 24828453
Facsimile : (965) 24828459
Mobile : (965)
50855332
Email : munzer@batteelcoffee.com / batteel@qualitynet.net
Please note that subject’s previous address was, Al Dabous Complex, Fahaheel.
Subject operates from a small suite of offices that are rented and
located in the Industrial Area of Salmiya.
Name Position
· Munzer Hisham
Zaidan Managing
Director
· Hisham Mohamed
Zaidan Director
Date of
Establishment : 10th
April 2006
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 111647
Trade Licence No. : 6640/2005
Chamber Member No. : 100956
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
· Munzer Hisham
Zaidan
· Hisham Mohamed
Zaidan
Activities: Engaged in the
import and distribution of coffee, spices and nuts.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 15 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
1,600,000 KD
1,790,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Commercial Bank of Kuwait SAK
Salmiya
Tel: (965)
25715989
No complaints regarding subject’s payments have been reported.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.58.45 |
|
UK Pound |
1 |
Rs.91.59 |
|
Euro |
1 |
Rs.77.91 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.