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Report Date : |
01.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
TAYUR IMPORT AND
EXPORT EST |
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|
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Registered Office : |
Souq Al Shaya,
Office No. 4, 2nd Floor, Al Mubarakiya Area, P O Box 21643, Safat
13077 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
01.02.1993 |
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Com. Reg. No.: |
49251, Safat |
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Legal Form : |
Sole Proprietorship |
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|
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Line of Business : |
Wholesalers and
Retailers of Readymade Garments. |
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No. of Employees : |
12 |
RATING & COMMENTS
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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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Kuwait |
A2 |
A2 |
|
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
Company Name : TAYUR
IMPORT AND EXPORT EST
Country of Origin : Kuwait
Legal Form : Sole
Proprietorship
Registration Date : 1st
February 1993
Commercial
Registration Number : 49251,
Safat
Trade Licence
Number : 1170/95
Chamber Membership
Number : 11203
Invested Capital :
KD 60,000
Total Workforce : 12
Activities :
Wholesalers and retailers of readymade garments.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Saifuddin A Bubai, Finance
Controller
COMPANY
NAME
TAYUR IMPORT AND
EXPORT EST
Building : Souq Al Shaya, Office No. 4, 2nd
Floor
Area : Al Mubarakiya Area
PO Box : 21643
Town : Safat 13077
Country : Kuwait
Telephone : (965) 22416525 / 22430829
Facsimile : (965) 22430829 / 22428707
Mobile : (965) 99483634
Email : tayur@kems.net
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
·
Faisal Abdullah Mohamed Mirza Proprietor
and General Manager
·
Ali Asghar Assistant
General Manager
·
Akil H Khandawala Sales
Manager
·
Laleng Faeij Administration
Manager
·
Saifuddin A Bubai Finance
Controller
Date of Establishment : 1st
February 1993
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 49251, Safat
Trade Licence No. : 1170/95
Chamber Member No. : 11203
Invested Capital
: KD 60,000
Mr Faisal Abdullah Mohamed Mirza is the sole proprietor of the business.
Activities: Engaged in the wholesale and retail of
readymade garments.
Import
Countries: India and China
International
Suppliers:
·
Goldem
Birds Import and Export India
·
Blossom
Co Ltd China
Brand Names: FMJ
Operating Trend: Steady
Subject has a
workforce of 12 employees.
Financial
highlights provided by local sources are given below:
Currency: Kuwaiti
Dinar (KD)
Year Ending 31/12/11: Year Ending 31/12/12:
Total Sales KD 950,000 KD 1,100,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr. Saifuddin A Bubai, Finance Controller
·
Burgan
Bank
PO Box: 5875
Safat 13054
Tel: (965) 22410818
Fax: (965) 22410819
No complaints
regarding subject’s payments have been reported.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the business is deemed a fair trade risk
and the above credit figure is considered to be within subject’s financial
means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.78 |
|
|
1 |
Rs.101.42 |
|
Euro |
1 |
Rs.84.67 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.