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Report Date : |
17.04.2014 |
IDENTIFICATION DETAILS
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Name : |
MASTOURAH &
QASSEM GENERAL TRADING CO WLL |
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|
|
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Registered Office : |
Remal Complex,
Ibn Khaldoun Street, 9873 Hawalli 22099 |
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Country : |
Kuwait |
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Date of Incorporation : |
11.01.2000 |
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Com. Reg. No.: |
87626 |
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|
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Legal Form : |
With Limited
Liability - WLL |
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Line of Business : |
Engaged in the wholesale and retail of readymade garments |
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|
No. of Employees |
350 |
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 |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Kuwait |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
Company Name : MASTOURAH
& QASSEM GENERAL TRADING CO WLL
Country of Origin : Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date : 11th
January 2000
Commercial
Registration Number : 87626
Trade Licence
Number :
247/2002
Chamber Membership
Number : 60927
Issued Capital : KD
750,000
Paid up Capital : KD
750,000
Total Workforce : 350
Activities :
Wholesale and retail of readymade garments.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Mohamed Fouad, Purchasing Manager
MASTOURAH & QASSEM
GENERAL TRADING CO WLL
Building : Remal Complex
Street :
Ibn Khaldoun Street
PO Box : 9873
Town : Hawalli 22099
Country : Kuwait
Telephone : (965) 22662983 / 22662985 / 22445504
/ 22662984
Facsimile : (965) 25714163
Mobile : (965) 66666968 / 66911989 /
66888089
Email : mastrouah40@hotmail.com
Subject operates
from a large suite of offices, a warehouse and a showroom that are rented and
located in the Central Business Area of Hawalli.
Branch Office
(s)
Location Description
·
Norah
Complex Showroom
premises
Sharhabeel Street
Al Farwaniya
Hawalli
Tel: (965) 24757010 / 24757020
·
Fahaheel Showroom
premises
Tel: (965) 23912117
·
Samliya Showroom
premises
Tel: (965) 25714161/2
·
Al
Mubarakiya Showroom
premises
Tel: (965) 22662983
·
Al
Jahra Showroom
premises
Tel: (965) 22662983
Name Position
·
Qassem
Mohamed Abdul Qader Managing
Director
·
Tawfiq
Mohamed Abdul Qader Director
·
Mastourah
Abdo Marzouq Rashed Al Walan Director
·
Kamal Mohamed Abdul Qader Director
·
Ahmed
Mahmoud Marketing
Manager
·
Alaa
Taha Financial
Manager
·
Mohamed Fouad Purchasing
Manager
Date of Establishment : 11th
January 2000
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 87626
Trade Licence No. :
247/2002
Chamber Member No. : 60927
Issued Capital : KD 750,000
Paid up Capital : KD 750,000
·
Qassem
Mohamed Abdul Qader
·
Tawfiq
Mohamed Abdul Qader
·
Mastourah
Abdo Marzouq Rashed Al Walan
·
Kamal Mohamed Abdul Qader
Activities: Engaged in the wholesale and retail of
readymade garments.
Import Countries: Europe and the Far East.
Brand Names: LETS FINE, DREAM, SUCCESS and EVERYDAY
Subject has a
workforce of approximately 350 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.
·
Commercial
Bank of Kuwait SAK
Hawalli
Tel: (965) 22645964
No complaints
regarding subject’s payments have been reported.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.22 |
|
|
1 |
Rs.100.78 |
|
Euro |
1 |
Rs.83.29 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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|
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|
Report Prepared
by : |
PDT |
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.