MIRA INFORM REPORT

Report Date :

30.11.2013

IDENTIFICATION DETAILS

Name :	ARABIAN BEVERAGE CO KSCC (ABC)

Registered Office :	Block No. 5, Street No. 103, Subhan Industrial Area, PO Box : 3022, Safat 13031

Country :	Kuwait

Date of Incorporation :	02.08.1960

Com. Reg. No.:	6896

Legal Form :	Kuwaiti Shareholding Company Closed

Line of Business :	Subject is engaged in the production of natural juices, milk and mineral water.

No. of Employees :	180

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good

Payment Behaviour :	Regular

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, 31^st,2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Kuwait

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
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.

Source : CIA

SUMMARY

Company Name : ARABIAN BEVERAGE CO KSCC (ABC)

Country of Origin : Kuwait

Legal Form : Kuwaiti Shareholding Company Closed - KSCC

Registration Date : 2^nd August 1960

Commercial Registration Number : 6896

Trade Licence Number : 703/2001

Chamber Membership Number : 1427

Issued Capital : KD 10,000,000

Paid up Capital : KD 10,000,000

Total Workforce : 180

Activities : Producers of natural juices, milk and mineral water

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

COMPANY NAME

ARABIAN BEVERAGE CO KSCC (ABC)

ADDRESS

Registered & Physical Address

Location : Block No. 5

Street : Street No. 103

Area : Subhan Industrial Area

PO Box : 3022

Town : Safat 13031

Country : Kuwait

Telephone : (965) 1802066 / 24736902 / 24736716 / 24736472 / 24711396

Facsimile : (965) 24722793

Email : admin@abcjuice.com.kw / a.samir@abcjuice.com.kw

Premises

Subject operates from a large suite of offices and a factory that are owned and located in the Industrial Area of Safat.

Branch Offices

Location Description

Emad Commercial Center, 2^nd Floor Office premises

Ahmed Al Jaber Street

Safat

Tel: (965) 22479730

Fax: (965) 22479734

KEY PRINCIPALS

Name Position

Adnan Abdul Nabi Mohamed Al Mousa Chairman

Dr Mohamed Wael Al Mohana Assistant General Manager

Ayman Samir Hassan Sayed Finance Manager

Bader Al Ustaz Commercial Manager

Sayed Mansour Sales Manager

Majid Hamid Abdulrahman Purchasing Manager

LEGAL FORM & OWNERS

Date of Establishment : 2^nd August 1960

Legal Form : Kuwaiti Shareholding Company Closed - KSCC

Commercial Reg. No. : 6896

Trade Licence No. : 703/2001

Chamber Member No. : 1427

Issued Capital : KD 10,000,000

Paid up Capital : KD 10,000,000

Name of Shareholder (s)

Bukhamseen Holding Co

Safat

Masadir Al Inma Co

Safat

Kuwait Barari Co

Safat

Kuwait Barakh Co

Safat

Nejoum Real Estate Co

Safat

AFFILIATED COMPANIES

Subject belongs to the Bukhamseen Holding group of companies that consists of the following concerns:

· Kuwait International Company for Education

· Kuwait Pearl Institute for Model Education

· Bukhamseen International Group of Contractors

· Osama Bukhamseen Design Engineering & Consultants

· The Interiors Collaborative – Architectural and Interior Design

· Arab Investment Company

· CREDIT ONE Holding Company

· Al Houda Hotels and Tourism Company

· The Crowne Plaza Hotel

· The Holiday Inn

· Staybridge Suites

· InterContinental Hotel & Tower

· The Rotana Hotel

· The Sofitel Maadi Towers Hotel

· The Safir Sayedah Zeinab Hotel

· The United Steel Industry Company

· Profile Experts for Aluminium Industries Company

· Warba Insurance Company

· Ritaj Takaful Insurance Company

· Middle East Insurance Brokerage Bureau

· Kuwait National Cinema Company

· Kuwait Cable Vision

· Dar Annahar for Press, Publishing and Distribution

· Al Barakah Media Group

· Bariq Al-Dana Magazine

· Al Arabiya Real Estate Company

· The Commercial Real Estate Company

· Tanmiya Realty Development Company

· Al Nojoom Real Estate Company

· Kuwait Barrari Trading Company

· The Real Estate Development Company

· Al Emad Real Estate Company

· Al Barakah Kuwait General Trading & Contracting Company

· Gulf International Real Estate Company

· Misr Towers International Company

· The Sayedah Zeinab Company for Tourism and Visit

· Middle East Investment Company

· The Kuwaiti-Lebanese Real Estate Rental Company

· The National Arab Company for Restaurants Management

· Rib Eye Steakhouse

· Shabestan Iranian Restaurant

· Al Ahmadi International Restaurant

· Fauchon Boutique and Salon de Thé

· Ayam Zaman Lebanese

· Sakura Japanese

· L’Aroma Café

· Al Noukhaza Seafood

· Tang Chao Chinese

· Peppes Pizza

· Ruby Tuesday

· Bukhamseen General Trading Company

· Azzad Trading Group

· Gulf Energy Company

· Eqarat.com

· Strategic Technologies & Solutions Holding Group (STS)

· Global Logistic Services and Warehousing Company

· Kuwait International Automobile Club Company

· Osama Real Estate Office

· The First Date Palms & Agricultural Services Company

· Arab Company for Logistic Services

· Al Huda Medical Services Company

· The Arab Showrooms and Trading Company

· Bukhamseen Travels & Tourism

· Al Madina Travels Company

· Al Madina Cargo Company

· National Aviation Centre

OPERATIONS

Activities: Engaged in the production of natural juices, milk and mineral water. Subject has approximately 420 distribution trucks.

In June 2011 subject announced plans to double its water production capacity to 240 million units per year and its distribution fleet to 800 trucks.

Export Countries: Yemen, Iraq, Jordan, Saudi, Bahrain and Qatar.

Brand Names: JUDA and ABC

Subject has a workforce of approximately 180 employees.

FINANCIAL DATA

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.

BANKERS

The Gulf Bank KSC

Mubarak Al Kabir Street

PO Box: 3200

Safat 13033

Tel: (965) 22449501

Fax: (965) 22445212

Al Ahli Bank of Kuwait KSC

Mubarak Al Kabir Street

PO Box: 1387

Safat 13033

Tel: (965) 22411101 / 22411102

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

Local sources report that subject meets its payments in a timely manner and is considered to be a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.39
UK Pound	1	Rs.102.06
Euro	1	Rs.84.98

INFORMATION DETAILS

Report Prepared by :

NNA

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.