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Report Date : |
30.10.2013 |
IDENTIFICATION DETAILS
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Name : |
AL HASSOUN AND JARANI TRADING CO WLL |
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Registered Office : |
Al Shaya Complex, 2nd Floor, Office No. 1 & 2, Abdullah Al Salem Street, Al Mubarakiya
Area, PO Box: 25968, Safat 13120 |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
31.01.1979 |
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Com. Reg. No.: |
27629 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Wholesalers and retailers of readymade garments, textiles and fabrics. |
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No. of Employees : |
9 |
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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 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 :
AL HASSOUN AND JARANI TRADING CO WLL
Country of Origin :
Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date :
31st January 1979
Commercial Registration Number :
27629
Trade Licence Number :
2658/78
Chamber Membership Number :
7833
Issued Capital :
KD 100,000
Paid up Capital :
KD 100,000
Total Workforce :
9
Activities :
Wholesalers and retailers of readymade garments, textiles and fabrics.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Kanelal K Ramani, General Manager
AL HASSOUN AND JARANI TRADING CO WLL
Registered &
Physical Address
Building : Al Shaya
Complex, 2nd Floor, Office No. 1 & 2
Street : Abdullah Al
Salem Street
Area : Al
Mubarakiya Area
PO Box : 25968
Town : Safat 13120
Country : Kuwait
Telephone : (965) 22440921
/ 22440924
Facsimile : (965) 22437343
Mobile : (965)
66354520
Email : hassounjarani@hotmail.com
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Safat.
Name Nationality Position
Abdul Aziz Ibrahim Al Hassoun Kuwaiti Managing
Director
Wadhoram K Taheel Ram Indian Director
Kanelal K Ramani Indian General
Manager
Date of Establishment : 31st
January 1979
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 27629
Trade Licence No. : 2658/78
Chamber Member No. : 7833
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Name of
Shareholder (s)
Abdul Aziz Ibrahim Al Hassoun
Kanelal K Ramani
Wadhoram K Taheel Ram
Activities: Engaged in the wholesale and retail of readymade garments, textiles and
fabrics.
Import Countries: India and Singapore
International
Suppliers:
Shiraz Impex India
Arihand Export India
Brand Names: HJT
Operating Trend: Steady
Subject has a workforce of 9 employees.
Financial highlights provided by local sources are given below:
Currency: Kuwaiti Dinars (KD)
Year Ending 31/12/11: Year Ending 31/12/12:
Total Sales KD
1,410,000 KD
1,485,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
The Gulf Bank KSC
Mubarak Al Kabir Street
PO Box: 3200
Safat 13033
Tel: (965) 22449501
Fax: (965) 22445212
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.61.46 |
|
|
1 |
Rs.98.99 |
|
Euro |
1 |
Rs.84.72 |
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 |
---- |
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.