|
Report Date : |
11.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
ABDULLAH YOUSEF AL RADWAN GENERAL TRADING & CONTRACTING WLL |
|
|
|
|
Registered Office : |
Sour Street Souq Mubarakiya, Block |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
05.09.2000 |
|
|
|
|
Com. Reg. No.: |
81970, Safat |
|
|
|
|
Legal Form : |
With Limited Liability - WLL |
|
|
|
|
Line of Business : |
Engaged in the provision of industrial catering and food services. |
|
|
|
|
No. of Employees |
81 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 - 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 |
SUMMARY
Company Name : ABDULLAH YOUSEF AL RADWAN GENERAL TRADING &
CONTRACTING WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 5th September 2000
Commercial Registration Number : 81970, Safat
Trade Licence Number : 1334/2000
Chamber Membership Number : 16319
Issued Capital : KD 720,000
Paid up Capital : KD 720,000
Total Workforce : 81
Activities : Provision of industrial catering and food services.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Vijay Kumar, Operation Manager
COMPANY NAME
ABDULLAH YOUSEF AL RADWAN GENERAL TRADING & CONTRACTING WLL
ADDRESS
Registered & Physical Address
Street : Sour Street
Area : Souq Mubarakiya, Block 3
PO Box : 1310
Town : Safat 13014
Country : Kuwait
Telephone : (965) 22455991
/ 22455997 / 25323988
Facsimile : (965) 22455993
Email : arcaterer@yahoo.com
Premises
Subject operates from a medium sized suite of offices and a warehouse
that are owned and located in the Central Business Area of Safat.
Branch Offices
Location Description
· Building No. 17 Office
premises
Block No. 10
Street No. 10
Safat
Tel: (965) 25323899
Fax: (965) 25323877
KEY PRINCIPALS
Name Position
· Abdullah Yousef Al
Radwan Managing
Director
· Mrs Wafa Hamad
Abdulrazzaq Al Abdul Jalil Director
· Rama Chandaran General
Manager
· Vijay Kumar Operations
Manager
· Ranjit Nair Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : Subject’s
operations date back to 27/09/1987,
however it was registered on 5th September
2000
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 81970, Safat
Trade Licence No. : 1334/2000
Chamber Member No. : 16319
Issued Capital : KD 720,000
Paid up Capital : KD 720,000
Name of Shareholder (s)
· Abdullah Yousef Al
Radwan
· Mrs Wafa Hamad
Abdulrazzaq Al Abdul Jalil
OPERATIONS
Activities: Engaged in the provision of industrial catering and food services.
Import Countries: India, Pakistan, Taiwan and the United States of
America
International
Suppliers:
· Sumi International India
· Hadi International Pakistan
· Galant
International Taiwan
· Pilgrims United States of
America
Operating Trend: Steady
Subject has a workforce of 81 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Kuwaiti Dinars (KD)
Year
Ending 31/12/12: Year
Ending 31/12/13:
Total Sales KD
3,425,000 KD
3,870,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Al Ahli Bank of Kuwait KSC
Mubarak Al Kabir Street
PO Box: 1387
Safat 13033
Tel: (965) 22411101 / 22411102
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of
transaction February
2007 June 2011
Credit amount 150,000 150,000
Amount overdue 0 0
Payment terms 60
days 60
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency US
Dollars US
Dollars
GENERAL COMMENTS
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.61.56 |
|
|
1 |
Rs.103.50 |
|
Euro |
1 |
Rs.82.41 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIS |
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.