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Report Date : |
19.08.2014 |
IDENTIFICATION DETAILS
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Name : |
AL MOUTAZ FOR EST IMPORT AND EXPORT AND COMMISSION AGENT |
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Registered Office : |
Al |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
26.04.1999 |
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Com. Reg. No.: |
19728 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of general merchandise, subject also provides
commissioning, clearing and forwarding agent services |
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No. of Employees |
6 |
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
|
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.
|
Source
: CIA |
Company Name :
AL MOUTAZ FOR EST IMPORT AND EXPORT AND COMMISSION
AGENT
Country of Origin :
Kuwait
Legal Form :
Sole Proprietorship
Registration Date :
26th April 1999
Commercial Registration Number :
19728
Trade Licence Number :
2096/90
Chamber Membership Number :
58686
Invested Capital :
KD 20,000
Total Workforce :
6
Activities :
Distributors of general merchandise, subject also provides commissioning,
clearing and forwarding agent services
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Safwat Rabbatah, Administration Manager
AL MOUTAZ FOR EST IMPORT AND EXPORT AND COMMISSION AGENT
Registered &
Physical Address
Building : Al Zebn
Building, Office No. 12, 2nd Floor
Street : Salem Al
Mubarak Street
PO Box : 6059
Town : Salmiyah
22071
Country : Kuwait
Telephone : (965) 25759050
Facsimile : (965) 25759050
Mobile : (965)
66144439 / 97700388
Please note that subject’s previous address was, Souq Al Safat, Safat.
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Salmiyah.
Name Position
Sabiha Sakit Halool Proprietor
Nasser Salim Al Hajiri General
Manager
Safwat Rabbatah Administration
Manager
Date of Establishment : 26th
April 1999
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 19728
Trade Licence No. : 2096/90
Chamber Member No. : 58686
Invested Capital : KD 20,000
Ms Sabiha Sakit Halool is the sole proprietor of the business.
Activities: Engaged in the import and distribution of general merchandise, subject
also provides commissioning,
clearing and forwarding agent services.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 6 employees.
Financial highlights provided by local sources are given below:
Currency: Kuwaiti Dinar (KD)
Year Ending 31/12/12: Year Ending 31/12/13:
Total Sales KD
615,000 KD
660,000
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 SAK
Salmiya
Tel: (965) 25711850
Fax: (965) 25743681
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.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
: |
RAS |
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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.