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Report Date : |
20.08.2014 |
IDENTIFICATION DETAILS
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Name : |
MUSHRIF INTERNATIONAL GENERAL TRADING & CONTRACTING CO WLL |
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Registered Office : |
Souk Mubarkia, Mustafa Complex, Shop 1, Safat |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
15.02.2004 |
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Com. Reg. No.: |
94596 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Subject is engaged in the import and distribution of scientific
equipment, educational equipment and supplies for universities, colleges and
schools. |
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No of Employees : |
08 |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Trade License Expired |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Kuwait |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
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 |
|
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 : MUSHRIF
INTERNATIONAL GENERAL TRADING & CONTRACTING CO WLL
Country of Origin :
Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date :
15th February 2004
Commercial Registration Number :
94596
Trade Licence Number :
1489/2003
Chamber Membership Number :
86467
Issued Capital :
KD 150,000
Paid up Capital :
KD 150,000
Total Workforce :
8
Activities :
Distributors of scientific equipment, educational equipment and supplies
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Person Interviewed :
Faisal Ibrahim Hassan Ahmed Al Ali, Director
MUSHRIF INTERNATIONAL GENERAL TRADING & CONTRACTING CO WLL
Registered &
Physical Address
Location : Souk
Mubarkia, Mustafa Complex, Shop 1
Town : Safat
Country : Kuwait
Telephone : (965) 25380254
/ 25387436 / 22427401
Facsimile : (965) 25380254
Mobile : (965) 99609596
Email : ibrahima60@yahoo.com
Name Position
Ibrahim Hassan Ahmed Al Ali Managing
Director
Faisal Ibrahim Hassan Ahmed Al Ali Director
Mashari Ibrahim Hassan Ahmed Al Ali Director
Date of Establishment : 15th
February 2004
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 94596
Trade Licence No. : 1489/2003 (Expired 19/06/2014)
Chamber Member No. : 86467
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
Name of
Shareholder (s)
Ibrahim Hassan Ahmed Al Ali
Faisal Ibrahim Hassan Ahmed Al Ali
Mashari Ibrahim Hassan Ahmed Al Ali
Activities: Engaged in the import and distribution of scientific equipment,
educational equipment and supplies for universities, colleges and schools.
Import Countries: Europe and the Far East.
Subject has a workforce of 8 employees.
Financial highlights provided by local sources are given below:
Currency: Kuwaiti Dinars (KD)
Year Ending 31/12/11: Year Ending 31/12/12:
Total Sales KD
880,000 KD
950,000
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.
Please note that we spoke to Mr Faisal Ibrahim Hassan Ahmed Al Ali,
Director who stated that the subject is no longer active after its trade
licence number expired on 19th June 2014 and was not renewed.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.73 |
|
|
1 |
Rs.101.47 |
|
Euro |
1 |
Rs.81.04 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared by
: |
TPT |
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 |
|
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.