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Report Date : |
19.04.2014 |
IDENTIFICATION DETAILS
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Name : |
RAMZ SABA TRADE CO WLL |
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Registered Office : |
Building No. 2, 1st
Floor, Office No. 1, Jaleeb Al Sholjoukh, Al Rawda Commimnahey Abdul Mohsen
Mubarak Comp Taha Aljaafri, P O Box 5443, Safat 13055 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
07.01.2007 |
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Com. Reg. No.: |
110716 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
importer and distributor of household consumable
products, plastics, kitchen equipment, detergents and cleaning products. |
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No of Employees : |
10 |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Kuwait |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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 : RAMZ SABA TRADE CO WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 7th January 2007
Commercial Registration Number : 110716
Trade Licence Number : 5929/2006
Chamber Membership Number : 105557
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
Total Workforce : 10
Activities : Distributors of household consumable products, plastics, kitchen
equipment, detergents and cleaning products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Taha Mohamed Hamood Al Jaafri, Managing Director
RAMZ SABA TRADE CO
WLL
Registered &
Physical Address
Building : Building No. 2, 1st
Floor, Office No. 1
Area : Jaleeb Al Sholjoukh, Al Rawda
Commimnahey Abdul Mohsen Mubarak Comp Taha Aljaafri
PO Box : 5443
Town : Safat 13055
Country : Kuwait
Telephone : (965) 24921354 / 24349554
Facsimile : (965) 24919141
Mobile : (965) 99030411 / 66353888
Email : taha_m_h_aljaafri@hotmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Safat.
Name Position
·
Taha
Mohamed Hamood Al Jaafri Managing
Director
·
Khalil
Ibrahim Ahmed Al Ansari Director
·
Mohamed
Al Shammari Sales
Manager
Date of Establishment : 7th
January 2007
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 110716
Trade
Licence No. : 5929/2006
Chamber Member No. : 105557
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
Name of
Shareholder (s)
·
Taha
Mohamed Hamood Al Jaafri
·
Khalil
Ibrahim Ahmed Al Ansari
Activities: Engaged in the import and distribution of
household consumable products, plastics, kitchen equipment, detergents and cleaning
products.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 10 employees.
Financial
highlights provided by local sources are given below:
Currency: Kuwaiti
Dinars (KD)
Year
Ending 31/12/12: Year Ending
31/12/13:
Total Revenue KD 1,020,000 KD 1,150,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
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.
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.60.38 |
|
|
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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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 |
|
<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.