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Report Date : |
08.05.2013 |
IDENTIFICATION DETAILS
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Name : |
KUWAIT CONTROLS CO WLL (KCC) |
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Registered Office : |
Plot No. 11, Street
No. 1, Sabhan Industrial Area, P O Box 20298, Safat 13062 |
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Country : |
Kuwait |
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Date of Incorporation : |
06.11.2007 |
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Com. Reg. No.: |
323454 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
General electro-mechanical and EPC contractors |
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No. of Employees : |
50 |
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 – March 31st 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 102 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 and 2012 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 historically 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 : KUWAIT CONTROLS CO WLL (KCC)
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 6th November 2007
Commercial Registration Number : 323454
Trade Licence Number : 20190/2012
Chamber Membership Number : 111666
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
Total Workforce : 50
Activities : General electro-mechanical and EPC contractors
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Mohamed Saleh, Financial Controller
KUWAIT CONTROLS CO
WLL (KCC)
Registered &
Physical Address
Location : Plot No. 11
Street : Street No. 1
Area : Sabhan Industrial Area
PO Box : 20298
Town : Safat 13062
Country : Kuwait
Telephone : (965) 1822522
Facsimile : (965) 22254330
Email : kcc@qualitynet.net / mail@kccec.com.kw
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the
Industrial Area of Safat.
Name Position
·
Abdulaziz
Mohamed Thanyyan Al Ghanem Managing
Director
·
Ali
Yousef Al Alami Director
·
Ezzat
Al Alami General
Manager
·
Maha
Mansour Procurement
Manager
·
Sayed
Mahmoud Al Hussaini Finance
Manager
·
Mohamed
Saleh Financial
Controller
Date of Establishment : 6th
November 2007
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 323454
Trade
Licence No. : 20190/2012
Chamber Member No. : 111666
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
Name of
Shareholder (s)
·
Abdulaziz
Mohamed Thanyyan Al Ghanem
·
Ali
Yousef Al Alami
·
KCCEC
Safat
Activities: Engaged as general electro-mechanical and
EPC contractors.
Subject has a
workforce of 50 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.54.27 |
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UK Pound |
1 |
Rs.84.32 |
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Euro |
1 |
Rs.70.99 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.