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Report Date : |
12.03.2013 |
IDENTIFICATION DETAILS
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Name : |
MUSHRIF INTERNATIONAL GENERAL TRADING & CONTRACTING CO WLL |
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Registered Office : |
Souk Mubarkia, Mustafa Complex, Shop 1, Safat |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
15.02.2004 |
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Com. Reg. No.: |
94596 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Distributors of scientific equipment, educational equipment and
supplies |
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No. of Employees : |
8 |
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 (31.03.2012) |
Current Rating (30.06.2012) |
|
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 :
MUSHRIF INTERNATIONAL GENERAL TRADING & CONTRACTING CO
WLL
Country of Origin :
Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date :
15th February 2004
Commercial Registration Number :
94596
Trade Licence Number :
1489/2003
Chamber Membership Number :
86467
Issued Capital :
KD 30,000
Paid up Capital :
KD 30,000
Total Workforce :
8
Activities :
Distributors of scientific equipment, educational equipment and supplies
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Ibrahim Hassan Ahmed Al Ali, Managing Director
MUSHRIF INTERNATIONAL GENERAL TRADING & CONTRACTING CO WLL
Location : Souk
Mubarkia, Mustafa Complex, Shop 1
Town : Safat
Country : Kuwait
Telephone : (965) 25380254
/ 25387436
Facsimile : (965) 25380254
Mobile : (965)
99609596
Email : ibrahima60@yahoo.com
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Safat.
Name Position
· Ibrahim Hassan
Ahmed Al Ali Managing
Director
· Faisal Ibrahim
Hassan Ahmed Al Ali Director
· Mashari Ibrahim
Hassan Ahmed Al Ali Director
Date of
Establishment : 15th
February 2004
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 94596
Trade Licence No. : 1489/2003
Chamber Member No. : 86467
Issued Capital : KD 30,000
Paid up Capital : KD 30,000
· Ibrahim Hassan
Ahmed Al Ali
· Faisal Ibrahim
Hassan Ahmed Al Ali
· Mashari Ibrahim
Hassan Ahmed Al Ali
Activities: Engaged in the import and distribution of scientific equipment,
educational equipment and supplies for
universities,
colleges and schools.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 8 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
880,000 KD
950,000
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
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.54.29 |
|
UK Pound |
1 |
Rs.81.08 |
|
Euro |
1 |
Rs.70.61 |
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 |
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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.