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Report Date : |
20.08.2014 |
IDENTIFICATION DETAILS
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Name : |
AMAZ INTERNATIONAL GENERAL TRADING AND CONTRACTING WLL |
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Registered Office : |
Al Yousifi Electronic |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
26.03.2008 |
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Com. Reg. No.: |
326509 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Subjects operations are performed through the following divisions: · Foodstuff Division · Cargo Division |
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No. of Employees |
18 |
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 : AMAZ INTERNATIONAL GENERAL TRADING AND
CONTRACTING WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 26th March 2008
Commercial Registration Number : 326509
Trade Licence Number : 1368/2008
Chamber Membership Number : 114054
Issued Capital : KD 250,000
Paid up Capital : KD 250,000
Total Workforce : 18
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
AMAZ INTERNATIONAL GENERAL TRADING AND CONTRACTING WLL
Building : Al Yousifi
Electronic Centre Building, 5th Floor, Block 4
Street : Fire Station
Road
Town : Farwaniya
Country : Kuwait
Telephone : (965) 24754622
/ 24745470
Facsimile : (965) 24754622
Mobile : (965)
99903864 / 67799330 / 66418218 / 99720554
Email : sales@amazkuwait.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Farwaniya.
Name Position
· Abu Baker Hakim
Abu Baker Managing
Director
· Falah Khalid
Abdullah Al Harbi Director
· Haya Shuhail
Sultan Alwai Director
Date of
Establishment : 26th
March 2008
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 326509
Trade Licence No. : 1368/2008
Chamber Member No. : 114054
Issued Capital : KD 250,000
Paid up Capital : KD 250,000
· Abu Baker Hakim
Abu Baker
· Falah Khalid
Abdullah Al Harbi
· Haya Shuhail
Sultan Alwai
Activities: Subjects operations are performed through the following divisions:
·
Foodstuff Division
Engaged in the
import and division of general foodstuff
·
Cargo Division
Engaged
in the provision of transport and cargo services.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 18 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
1,650,000 KD
1,900,000
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
Farwaniya
Tel:
(965) 24744808
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
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Indian Rupees |
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US Dollar |
1 |
Rs.60.73 |
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1 |
Rs.101.48 |
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Euro |
1 |
Rs.81.04 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
NIS |
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.