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Report Date : |
21.06.2013 |
IDENTIFICATION DETAILS
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Name : |
AL WAHEEB CO FOR POULTRY PRODUCTS & FOOD
WLL |
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Registered Office : |
Plot No. 894, Office
No. 1, 1st Floor, |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
15.06.1993 |
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Com. Reg. No.: |
50707 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Import and distribution of poultry and soya products and animal fodder as well as operating 11 poultry units specialising in the production of eggs |
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No. of Employees : |
90 |
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.
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Source : CIA |
Company Name : AL WAHEEB CO FOR POULTRY PRODUCTS & FOOD WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 15th June 1993
Commercial Registration Number : 50707
Trade Licence Number : 1296/2000
Chamber Membership Number : 36144
Issued Capital : KD 500,000
Paid up Capital : KD 500,000
Total Workforce : 90
Activities : Import and distribution of poultry and soya products and animal fodder
as well as operating 11 poultry units specialising in the production of eggs.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Hamed Ali Hussain Al Waheeb , Managing Director
AL WAHEEB CO FOR
POULTRY PRODUCTS & FOOD WLL
Registered &
Physical Address
Location : Plot No. 894, Office No. 1, 1st
Floor
Street : Beirut Street
PO Box : 783 & 14324 Salmiya 22008
Town : Hawalli
Country : Kuwait
Telephone : (965) 22645977
Facsimile : (965) 22645151 / 24805565
Mobile : (965) 99022385
Email : said@qualitynet.net / alwaheeb_poultry@hotmail.com / halwaheeb@yahoo.com
Please note that
subject’s previous address was, Al Othman Commercial Center, 3rd
Floor, Office No. 34, Ibn Khaldoun Street, Hawalli.
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Hawalli.
Name Position
·
Hamed
Ali Hussain Al Waheeb Managing
Director
·
Intisar
Othman Abdullah Al Ayoubi Director
·
Ahmed
Mostafa Finance
Manager
·
Saleh
Al Shamary Sales
Manager
Date of Establishment : 15th
June 1993
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 50707
Trade Licence No. :
1296/2000
Chamber Member No. : 36144
Issued Capital : KD 500,000
Paid up Capital : KD 500,000
Name of
Shareholder (s)
·
Hamed
Ali Hussain Al Waheeb
·
Intisar
Othman Abdullah Al Ayoubi
Activities: Engaged in the import and distribution of
poultry and soya products and animal fodder.
Subject also operates 11 poultry units specialising in the production of
eggs.
Import
Countries: Belgium and the
Netherlands.
International Suppliers:
·
Antiraco Belgium
· Brofimi Netherlands
Operating Trend: Steady
Subject has a
workforce of 90 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 3,700,000 KD 4,000,000
Local sources
consider subject’s financial condition to be Fair.
·
National
Bank of Kuwait SAK
Hawalli
Tel: (965) 22653303 / 22645964
Fax: (965) 22611366
No complaints
regarding subject’s payments have been reported.
Amount overdue 0
Payment terms 30
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
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.59.70 |
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UK Pound |
1 |
Rs.92.22 |
|
Euro |
1 |
Rs.79.19 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.