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Report Date : |
10.04.2014 |
IDENTIFICATION DETAILS
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Name : |
SORYA SUPERMARKETS Company |
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Registered Office : |
Building No. 77,
Shuwaikh Industrial Area, P O Box15578, Deawa 35456 |
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Country : |
Kuwait |
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Date of Incorporation : |
14.01.2013 |
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Com. Reg. No.: |
345106 |
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Legal Form : |
General Partnership |
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Line of Business : |
Engaged in the operation
of supermarkets selling a wide range of foodstuff and consumable products. |
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No. of Employees |
65 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Kuwait |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 - more than 6% 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. Budget surpluses have stayed around 30% of GDP, which has led to
higher budget expenditures, particularly wage hikes for many public sector
employees, as well as increased allotments to Kuwait’s Future Generations Fund.
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, though much
of these funds have yet to be allocated.
|
Source : CIA |
Concern Name :
SORYA SUPERMARKETS company
Country of Origin : Kuwait
Legal Form : General Partnership
Registration Date : 14th January 2013
Commercial Registration Number : 345106
Trade Licence Number : 1406/2012
Chamber Membership Number : 136038
Partners Capital : KD 50,000
Total Workforce : 65
Activities : Operation of supermarkets
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Nilan Sinjaya, Accounts Manager
SORYA SUPERMARKETS
COMPANY
Registered &
Physical Address
Building : Building No. 77
Area : Shuwaikh Industrial Area
PO Box : 15578
Town : Deawa 35456
Country : Kuwait
Telephone : (965) 24929966 / 99821155 / 97283796
/ 50969611
Facsimile : (965) 24929555
Mobile : (965) 99821155
Email : accounts@taktom.co
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the
Industrial Area of Deawa.
Name Position
·
Ali
Farhan Mohamed Kohari Managing Partner
·
Farhan
Mohamed Ismail Kohari Partner
·
Mohamed
Farhan Mohamed Kohari Partner
·
Saleg
Qassim Commercial
Manager
·
Nilan
Sinjaya Accounts
Manager
Date of Establishment : 14th
January 2013
Legal Form :
General Partnership
Commercial Reg. No. : 345106
Trade Licence No. :
1406/2012
Chamber Member No. : 136038
Partners Capital : KD 50,000
Name of Partner
(s)
·
Ali
Farhan Mohamed Kohari
·
Farhan
Mohamed Ismail Kohari
·
Mohamed
Farhan Mohamed Kohari
Activities: Engaged in the operation of supermarkets
selling a wide range of foodstuff and consumable products.
Import
Countries: Europe and the
Far East
Subject has a
workforce of 65 employees.
Subject is a newly
formed business and as a result financial information is not currently
available.
·
Commercial
Bank of Kuwait SAK
Mubarak Al Kabir Street
PO Box: 2861
Safat 13029
Tel: (965) 22411001
Fax: (965) 22450150
No complaints
regarding subject’s payments have been reported.
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.07 |
|
UK Pound |
1 |
Rs.100.56 |
|
Euro |
1 |
Rs.82.79 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared by
: |
MNL |
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 |
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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.