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Report Date : |
29.03.2013 |
IDENTIFICATION DETAILS
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Name : |
AL NAHAR INTERNATIONAL CO WLL |
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Registered Office : |
Reem Center, Ghazali Street, Shuwaikh Industrial Area, PO Box 22939, Safat 13090 |
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Country : |
Kuwait |
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Date of Incorporation : |
22.02.1989 |
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Com. Reg. No.: |
8798 |
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Legal Form : |
With Limited
Liability – WLL |
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Line of Business : |
Distributors of automation products, money counting machines, banking products
and computer software |
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No. of Employees : |
75 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
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 NAHAR INTERNATIONAL CO WLL
Country of Origin :
Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date :
22nd February 1989
Commercial Registration Number :
8798
Trade Licence Number :
67/89
Chamber Membership Number :
21190
Issued Capital :
KD 250,000
Paid up Capital :
KD 250,000
Total Workforce :
75
Activities :
Distributors of automation products, money counting machines, banking
products and computer software
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
AL NAHAR INTERNATIONAL CO WLL
Building : Reem Center
Street : Ghazali
Street
Area : Shuwaikh
Industrial Area
PO Box : 22939
Town : Safat 13090
Country : Kuwait
Telephone : (965) 24823311
/ 24820133 / 22407781 / 22430818
Facsimile : (965) 24831941
Email : sales@alnahar.net / info@alnahar.net
Subject operates from a medium sized suite of offices that are rented
and located in the Industrial Area of Safat.
Branch Office (s)
Location Description
· Al Telal Complex Showroom
premises
Pepsi Street
Shuwaikh
Tel: (965)
22252588
Fax: (965)
24831941
Name Position
· Abdulrahman Fahd
Khalifa Al Ghanem Managing
Director
· Fares Ahmed Muqbel
Al Muqbel Director
· Nedal Ahmed Al
Muqbel General
Manager
· Ahmed Al Karmi Commercial
Manager
· Ali Mohamed
Shaitani Financial
Manager
Date of
Establishment : 22nd
February 1989
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 8798
Trade Licence No. : 67/89
Chamber Member No. : 21190
Issued Capital : KD 250,000
Paid up Capital : KD 250,000
· Abdulrahman Fahd
Khalifa Al Ghanem
· Fares Ahmed Muqbel
Al Muqbel
Activities: Engaged in the import and distribution of automation products, money
counting machines, banking
products and computer software.
Subject is an Apple authorized reseller
and certified by Apple to resell and service Apple computers,
software and accessories in Kuwait.
Import Countries: Europe and the Far East.
Brand Names: APPLE
Subject has a workforce of 75 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.
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.54.38 |
|
UK Pound |
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
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 |
|
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 |
|
<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.