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Report Date : |
12.03.2013 |
IDENTIFICATION DETAILS
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Name : |
AL NAWAYA AL KUWAITI TRADING CO WLL |
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Registered Office : |
Al Qaysariyah Area, Shop No. 3, PO Box 43, Jahra 1002 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
01.02.1987 |
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Com. Reg. No.: |
28903, Safat |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Wholesale and retail of fruit and vegetables |
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No. of Employees : |
20 |
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
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Country Name |
Previous Rating (31.03.2012) |
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.
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Source : CIA |
Company Name : AL NAWAYA AL KUWAITI TRADING CO
WLL
Country of Origin :
Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date :
1st February 1987
Commercial Registration Number :
28903, Safat
Trade Licence Number :
34/1987
Chamber Membership Number :
17767
Issued Capital :
KD 20,000
Paid up Capital :
KD 20,000
Total Workforce :
20
Activities :
Wholesale and retail of fruit and vegetables
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Mohamed El Sayed Hamato, Finance Manager
AL NAWAYA AL KUWAITI TRADING CO WLL
Location : Al Qaysariyah
Area, Shop No. 3
PO Box : 43
Town : Jahra 1002
Country : Kuwait
Telephone : (965) 24554424
/ 24559109 / 24566100 / 24555892
Facsimile : (965) 24556633
Mobile : (965)
97342075
Email : nawayaq8@hotmail.com
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Jahra.
Branch Office (s)
Location Description
· Jahra
Industrial Area Warehouse
premises
Tel:
(965) 24553606
Name Position
· Saud Nashmi Awad
Al Hareeji Managing
Director
· Abdulaziz Saud
Nashmi Awad Al Hareeji Director
· Othman Saud Nashmi
Awad Al Hareeji Director
· Maneefa Saud
Nashmi Awad Al Hareeji Director
· Mohiddine Ali
Bashir General
Manager
· Mohamed
Abdul Hamid Sales
Manager
· Mohamed El Sayed
Hamato Finance
Manager
Date of
Establishment : 1st
February 1987
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 28903, Safat
Trade Licence No. : 34/1987
Chamber Member No. : 17767
Issued Capital : KD 20,000
Paid up Capital : KD 20,000
· Saud Nashmi Awad
Al Hareeji
· Abdulaziz Saud
Nashmi Awad Al Hareeji
· Othman Saud Nashmi
Awad Al Hareeji
· Maneefa Saud
Nashmi Awad Al Hareeji
Activities: Engaged in the wholesale and retail of fruit and vegetables.
Import Countries: Europe and GCC countries.
Brand Names: ANCO, ROSANA and ALFANAR
Operating Trend: Steady
Subject has a workforce of 20 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
2,410,000 KD
2,500,000
Local sources consider subject’s financial condition to be Fair.
·
Kuwait Finance House (KFH)
Safat Square
Abdullah Al Mubarak Street
PO Box: 24989
Safat 13110
Tel: (965) 22445050
Fax: (965)
22455135
No complaints regarding subject’s payments have been reported.
Please note that subject’s correct name is “Al Nawaya Al Kuwaiti Trading
Co WLL” and not “United Al Nawaya Kuwait Trading Company”.
Established in 1987, subject is owned and managed by members of the Al
Hareeji family who are well respected in the local business community.
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.54.29 |
|
UK Pound |
1 |
Rs.81.08 |
|
Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
RATING EXPLANATIONS
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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.