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Report Date : |
15.10.2013 |
IDENTIFICATION DETAILS
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Name : |
MOHAMED HUMOUD AL SHAYA COMPANY WLL |
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Formerly Known As : |
M H AL SHAYA COMPANY WLL |
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Registered Office : |
Al Shaya Building, Street No. 2 (Pepsi Cola Street), Shuwaikh, PO Box:
181, Safat 13002 |
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Country : |
Kuwait |
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Date of Incorporation : |
13.01.1960 |
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Com. Reg. No.: |
2070, Safat |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Wholesale and retail of ready-made clothing, perfume, cosmetics
and giftware items |
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No. of Employees : |
4,000 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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 |
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Risk Category |
ECGC
Classification |
|
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.
|
Source
: CIA |
Company Name :
MOHAMED HUMOUD AL SHAYA COMPANY WLL
Also Known As :
M H AL SHAYA COMPANY WLL
Country of Origin :
Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date :
13th January 1960
Commercial Registration Number :
2070, Safat
Trade Licence Number :
695/95
Chamber Membership Number :
178
Issued Capital :
KD 3,700,000
Paid up Capital :
KD 3,700,000
Total Workforce :
4,000
Activities :
Wholesale and retail of ready-made clothing, perfume, cosmetics and
giftware items
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Arun Venketesh, Finance Manager
MOHAMED HUMOUD AL SHAYA COMPANY WLL
M H AL SHAYA COMPANY WLL
Registered &
Physical Address
Building : Al Shaya Building
Street : Street No. 2
(Pepsi Cola Street)
Area : Shuwaikh
PO Box : 181
Town : Safat 13002
Country : Kuwait
Telephone : (965) 22242380
/ 22242000 / 24841953 / 24848400 / 24811434 / 24815805 / 22422373 / 22242153
Facsimile : (965) 24814842
/ 24848051 / 24842891
Email : info@alshaya.com
/ arun.venketesh@alshaya.com
/ sibou.jacob@alshaya.com
Premises
Subject operates from a large suite of offices and a showroom that are
owned and located in the Central Business Area of Safat.
Branch Office (s)
Location Description
PO Box: 23958 Rented
showroom premises
Safat 13100
Tel: (965) 22242020 / 22242444 / 24841964 / 24815603
Fax: (965) 24839433 / 24848051 / 24820488
Name Position
Mohamed Homoud Al Shaya Managing
Director
Ayman Al Shaya Director
Abdullah Al Shaya Director
Hamad Al Shaya Director
Saud Al Shaya Director
Abdul Latif Al Shaya Director
Abdulaziz Al Shaya Director
Saleh Al Shaya Director
Azeem Faheen Commercial
Manager
Arun Venketesh Finance
Manager
Sibou Jacob Treasury
Manager
Mohamed Othman Legal
Manager
Rajai Abdallah Lawyer
Date of Establishment : 13th
January 1960
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 2070, Safat
Trade Licence No. : 695/95
Chamber Member No. : 178
Issued Capital : KD 3,700,000
Paid up Capital : KD 3,700,000
Name of
Shareholder (s)
Mohamed Al Shaya
Ayman Al Shaya
Abdullah Al Shaya
Hamad Al Shaya
Saud Al Shaya
Abdul Latif Al Shaya
Abdulaziz Al Shaya
Saleh Al Shaya
Al Shaya International General Trading Co
PO Box: 181
Safat 13002
Tel: (965) 24848400
Fax: (965) 24814842
Al Shaya Holding Co
PO Box: 181
Safat 13002
Tel: (965) 24848400
Fax: (965) 24814842
Saud A. M. Al Shaya Trading & Contracting Est
PO Box: 181
Safat 13002
Tel: (965) 24841964
Fax: (965) 24814842
Dareen International Holding Co
PO Box: 181
Safat 13002
Tel: (965) 24848400
Fax: (965) 24814842
Al Injaz Contracting Co KSC
PO Box: 25215
Safat
Tel: (965) 24832615
Fax: (965) 24843953
Al Shaya & Juma Al Majid Trading Co
PO Box: 64432
Safat
Tel: (965) 24848411 / 24848400
Fax: (965) 24848425
Pan Arab Computer Company (PACC)
Safat
Tel: (965) 24848500
Abha Contracting Company
Abha
Saudi Arabia
Tel: (966-4) 8363254
Kuwait Automotive Import Co WLL (Al Shaya & Al Sagar)
Tunis Street
Hawalli
PO Box: 48
Safat 13001
Tel: (965) 22421276 / 22421277 / 22421278 / 22421279
Fax: (965) 22401820
Activities: Engaged in the wholesale and retail of ready-made clothing, perfume,
cosmetics and giftware items
through the operation of over 200 retail outlets located in Kuwait,
Saudi Arabia, Bahrain, Qatar, Oman, Lebanon and the United Arab Emirates.
Import Countries: France, Italy, Spain, Sweden the United Kingdom
and the United States of America.
International Suppliers:
Alimak AB Sweden
Brand Names: DEBENHAMS,
MOTHERCARE, BHS, NEXT, LIX CLAIBORNE, OASIS, RIVER ISLAND, TOP SHOP,
PRINCIPLES, EVANS, DOROTHY PERKINS, MOTIVI, ELENA MIRO, LAURA ASHLEY, WAX
LYRICAL, MILANO, THE BODY SHOP, ESTEE LAUDER, CLINIQUE, MAC and STARBUCKS.
Subject has a workforce of approximately 4,000 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.
Bank of Kuwait & the Middle East KSC
Abdullah Al Salem Street
Darwaza Abdul Razzak
PO Box: 71
Safat 13001
Tel: (965) 22459771
Fax: (965) 22461430
National Bank of Kuwait
Ali Awadi Tower
Ahmed Al Jaber Street
PO Box: 95
Safat 13001
Tel: (965) 23981188 / 23981189
Fax: (965) 23985643
No complaints regarding subject’s payments have been reported.
Date of transaction April
2006 October 2006 September 2007
Credit amount 3,000 277,625 280,927
Amount overdue 0 0 0
Payment terms 60
days 60 days 60 days
Payment Method Letters
of Credit Letters of Credit Letters of Credit
Paying record No
Complaints No Complaints No Complaints
Currency Pounds
Sterling Canadian Dollars Canadian Dollars
Established in 1960, subject is involved in the operation of over 200
retail outlets located throughout the Middle East, specialising in the sale of
ready-made clothing, perfume, cosmetics and giftware items.
Local informants spoke to Mr Arun Venketesh, Finance Manager, Mr Sibou
Jacob, Treasury Manager and Mr Mohamed Othman, Legal Manager who all refused to
divulge any information on the subject.
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.61.30 |
|
|
1 |
Rs.97.99 |
|
Euro |
1 |
Rs.83.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
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 |
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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.