MIRA INFORM REPORT

 

 

Report Date :

06.09.2013

 

 

 

 

Tel. No. :

96522422611

 

 

IDENTIFICATION DETAILS

 

Name :

AL OSH AL JAMEEL EST

 

 

Registered Office :

Loula Nasse Al Sabah Building, 2nd Floor, Office No. 6, Saud Abdulaziz Street, Al Mubarakiya, PO Box      722, Safat 13008

 

 

Country :

Kuwait

 

 

Date of Incorporation :

30.06.1960

 

 

Com. Reg. No.:

6624

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Subject engaged in the provision of land transport services, subject has a fleet of 31 vehicles.

 

 

No. of Employees :

45

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

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

 

 

 

 

 

 

 

 

 

 

 

SUMMARY

 

Company Name                         : AL OSH AL JAMEEL EST

Country of Origin                                    : Kuwait

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 30th June 1960

Commercial Registration Number            : 6624

Trade Licence Number                            : 282

Chamber Membership Number                : 6648

Invested Capital                                     : KD 150,000

Total Workforce                                     : 45

Activities                                               : Providers of land transport services

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Person Interviewed                                 : Khaled Fahd Abdulraheem Al Boloshi, Proprietor & General Manager

 

 

 

 

 

COMPANY NAME

 

AL OSH AL JAMEEL EST

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Loula Nasse Al Sabah Building, 2nd Floor, Office No. 6

Street               : Saud Abdulaziz Street

Area                 : Al Mubarakiya

PO Box             : 722

Town                 : Safat 13008

Country             : Kuwait

 

Telephone         : (965) 22422611

Facsimile          : (965) 22433548

Email                : josemathew07@yahoo.com

 

Premises

 

Subject operates from a medium sized suite of offices that are rented and located in the Central Business Area of Safat.

 

 

KEY PRINCIPALS

 

     Name                                                                                   Position

 

·       Khaled Fahd Abdulraheem Al Boloshi                         Proprietor & General Manager

 

·       Adel Khaled Al Boloshi                                                          Assistant General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 30th June 1960

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 6624

 

Trade Licence No.       : 282

 

Chamber Member No. : 6648

 

Invested Capital           : KD 150,000

 

Mr Khaled Fahd Abdulraheem Al Boloshi is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities: Engaged in the provision of land transport services, subject has a fleet of 31 vehicles.

 

Subject has a workforce of 45 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

 

·       Commercial Bank of Kuwait SAK

     Mubarak Al Kabir Street

     PO Box: 2861

     Safat 13029

     Tel: (965) 22411001

     Fax: (965) 22450150

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

According to local sources, subject’s financial condition is satisfactory whilst payments are made in a timely manner. The operating history is reportedly clear

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.04

UK Pound

1

Rs.103.10

Euro

1

Rs.86.99

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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%)

 

 

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