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Report Date : |
13.03.2013 |
IDENTIFICATION DETAILS
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Name : |
SILK CITY PORT
HOLDING CO WLL |
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|
|
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Registered Office : |
Raneem Commercial
Center, 5th Floor, Office No. 29, Shunada Street Sharq Safat 13001 |
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Country : |
Kuwait |
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Date of Incorporation : |
06.05.2008 |
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Com. Reg. No.: |
324915, Safat |
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Legal Form : |
With Limited
Liability - WLL |
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Line of Business : |
Providers of real estate services and rental of fully furnished apartments and villas. |
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No. of Employees : |
20 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
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 : SILK CITY PORT HOLDING CO WLL
Country of Origin : Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date : 6th
May 2008
Commercial
Registration Number : 324915,
Safat
Trade Licence
Number :
3776/2007
Chamber Membership
Number : 114762
Issued Capital : KD
250,000
Paid up Capital : KD
250,000
Total Workforce :
20
Activities :
Providers of real estate services and rental of fully furnished apartments and
villas.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Mishal Al
Askar, Administration Manager
SILK CITY PORT
HOLDING CO WLL
Building : Raneem Commercial Center, 5th
Floor, Office No. 29
Street : Shunada Street
Area : Sharq
Town : Safat 13001
Country : Kuwait
Telephone : (965) 22401554
Facsimile : (965) 22414686
Email : ameer-kw@hotmail.com / ameerkwt@hotmail.com
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Safat.
Name Position
·
Ali
Hussain Bu Abbass Managing
Director
·
Ameer
Abdulrahim Al Mansoor Director
·
Mishal
Al Askar Administration
Manager
Date of Establishment : 6th
May 2008
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 324915, Safat
Trade
Licence No. : 3776/2007
Chamber Member No. : 114762
Issued Capital : KD 250,000
Paid up Capital : KD 250,000
·
Ali
Hussain Bu Abbass
·
Ameer
Abdulrahim Al Mansoor
Activities: Engaged in the provision of real estate
services and rental of fully furnished apartments and villas.
Subject has a workforce
of 20 employees.
Companies
registered in Kuwait are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
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.
According to local
sources, subject meets its payment obligations in a timely manner and the
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.33 |
|
|
1 |
Rs.80.89 |
|
Euro |
1 |
Rs.70.73 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.