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Report Date : |
02.03.2013 |
IDENTIFICATION DETAILS
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Name : |
KEPLIC CO WLL |
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Registered Office : |
Building 43-137 Street No. 101 Subhan Industrial Area PO Box 5377Safat 13054 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
06.08.1986 |
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Com. Reg. No.: |
18442 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Manufacturers of lighting products. |
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No. of Employees : |
180 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 104 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 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 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 : KEPLIC CO WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 6th August 1986
Commercial Registration Number : 18442
Trade Licence Number : 10164
Chamber Membership Number : 10700
Issued Capital : KD 500,000
Paid up Capital : KD 500,000
Total Workforce : 180
Activities : Manufacturers of lighting products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ibrahim Mohana, Finance Manager
KEPLIC CO WLL
Building : Building
43-137
Street : Street No.
101
Area : Subhan
Industrial Area
PO Box : 5377
Town : Safat 13054
Country : Kuwait
Telephone : (965) 24763644
/ 24726728 / 24763645 / 24726729
Facsimile : (965) 24726730
Email : keplic@keplic.com
Subject operates from a large suite of offices and a factory that are
rented and located in the Industrial Area of Safat.
Name Position
· Haitham Mohamed
Sameh Abdulrahman Barakat Managing Director
· Waleed Abdullaif
Yousef Al Nisef Director
· Jamal Al Kadi Commercial
Manager
· Ibrahim Mohana Finance
Manager
· Jamal Antabawi Production
Manager
Date of
Establishment : 6th
August 1986
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 18442
Trade Licence No. : 10164
Chamber Member No. : 10700
Issued Capital : KD 500,000
Paid up Capital : KD 500,000
· Haitham Mohamed
Sameh Abdulrahman Barakat
· Waleed Abdullaif
Yousef Al Nisef
Activities: Engaged in the manufacture of lighting products, including poles,
cables, trays and feeders.
Import Countries: Europe and GCC countries.
Operating Trend: Steady
Subject has a workforce of approximately 180 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
3,185,000 KD
3,620,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Ibrahim Mohana, Finance Manager
·
Commercial Bank of Kuwait SAK
Mubarak
Al Kabir Street
PO Box:
2861
Safat
13029
Tel:
(965) 22411001
Fax:
(965) 22450150
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.48 |
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|
1 |
Rs.82.72 |
|
Euro |
1 |
Rs.71.27 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.