MIRA INFORM REPORT

 

 

 

 

Report Date :           

21.06.2013

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

No trace

 

 

Payment Behaviour :

---

 

 

Litigation :

---

 

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 DAWLIYA IMPORT EXPORT

 

 

Company ADDRESS

 

Physical Address

Location            : C/o Majdi Food Center, Kuwait Free Trade Zone, Shuwaikh Sea Port, Store No. 10, A & B Block

Town                 : Safat

Country             : Kuwait

Telephone         : (965) 22331515 / 22331616 / 24610000

Facsimile          : (965) 22331919

Email                : yusuf.commercial@majdifood.com / comm103@majdifood.com

 

 

GENERAL COMMENTS

 

Upon investigation local sources were unable to locate a company called “Al Dawliya Import Export” in Kuwait. They also consulted local business directories and journals, as well as the local telephone operator however there was no mention of the subject of your enquiry.

 

Enquiries made with the Kuwait Chamber of Commerce also proved unsuccessful as they had no listing under the name of “Al Dawliya Import Export”. The contact numbers listed above locate “Majdi Food KSCC”. Local correspondents spoke to Mr Yousuf Atterwal at Majdi Food KSCC who had no knowledge of the subject of your enquiry.

 

“Al Dawliya” means “International” so the name “International Import Export” is very vague and may have some words missing.

 

Should you be able to provide us with any further information on the subject of your enquiry we shall re-investigate and endeavour to send you a full report as soon as possible.

 

Important Note:

Kindly provide us with additional information such as Correct Name, Address, Contact Details, Name of Contact Person or a copy of the Upper Part of Letterhead within 15 days of receiving this report, a would be sent without any additional cost.

 

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

 

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