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Report Date : |
18.08.2014 |
IDENTIFICATION DETAILS
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Name : |
AL JUBU TRADING COMPANY WLL |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
05.02.1992 |
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Com. Reg. No.: |
42744 |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Import, distribution and retail of sanitary-ware products and
bathroom suites as well as offering
fitting and installation services |
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No. of Employees |
45 |
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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Kuwait |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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.
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Source
: CIA |
Company Name : AL JUBU TRADING COMPANY WLL
Country of Origin :
Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date :
5th February 1992
Commercial Registration Number :
42744
Trade Licence Number :
2922/92
Chamber Membership Number :
27536
Issued Capital :
KD 2,000,000
Paid up Capital :
KD 2,000,000
Total Workforce :
45
Activities :
Import, distribution and retail of sanitary-ware products and bathroom suites as well as offering fitting and
installation services
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
AL JUBU TRADING COMPANY WLL
Registered &
Physical Address
Building : Abbas Rabie
Building, No. 27, Office No. 1, Block 73
Area : Shuwaikh
Industrial Area
PO Box : 49359
Town : Omariya
85154
Country : Kuwait
Telephone : (965) 24815894
/ 24815895 / 24815787 / 24815737
Facsimile : (965) 24815737
/ 24815738
Email : aljubu@qualitynet.net
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Industrial Area of Omariya.
Branch Office (s)
Location Description
Shuwaikh Industrial Area Rented
showroom premises
Tel: (965) 24843551
Name Nationality Position
Radi Al Mutlaq Al Rashidi Kuwaiti Managing
Director
Munira Shai Fahd Al Rashidi Kuwaiti Director
Nouf Radi Mutlaq Al Owaid Kuwaiti Director
Radi Mutlaq Al Owaid
Kuwaiti General
Manager
Mohamed Radi Mutlaq Al Owaid
Kuwaiti Assistant
General Manager
Mostafa Abu Al Hatab
- Administration
Manager
Saeed Jamal - Finance
Manager
Date of Establishment : 5th
February 1992
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 42744
Trade Licence No. : 2922/92
Chamber Member No. : 27536
Issued Capital : KD 2,000,000
Paid up Capital : KD 2,000,000
Name of Shareholder
(s)
Radi Al Mutlaq Al Rashidi
Munira Shai Fahd Al Rashidi
Nouf Radi Mutlaq Al Owaid
Activities: Engaged in the import,
distribution and retail of sanitary-ware products and bathroom suites, as well as
offering fitting and installation services.
Import Countries: Spain,
Italy, France, the United Kingdom and India
International Suppliers:
Teka Industrial Spain
Lorenzi Vasco Italy
Saudi Khazf Co Saudi Arabia
FOMINIYA Spain
Surya Roshini Ltd India
Operating Trend: Steady
Subject has a workforce of 45 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 Sales KD
3,875,000 KD
3,990,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
National Bank of Kuwait
Ali Awadi Tower
Ahmed Al Jaber Street
PO Box: 95
Safat 13001
Tel: (965) 23981188 / 23981189
Fax: (965) 23985643
Burgan Bank
PO Box: 5875
Safat 13054
Tel: (965) 22410818
Fax: (965) 22410819
No complaints regarding subject’s payments have been reported.
Al Jubu Trading Company has operations dating back to 1992 and is well
established in the local business community. It employs 45 workers and is
engaged in the import, distribution and retail of sanitary-ware products and
bathroom suites as well as offering fitting and installation services.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.06 |
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UK Pound |
1 |
Rs.101.84 |
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Euro |
1 |
Rs.81.56 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
SDA |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
-- |
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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.