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Report Date : |
21.08.2014 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL INTERNATIONAL GENERAL TRADING & CONTRACTING CO |
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Registered Office : |
Shop No 39, 40,
41 & 42, Ahmadi Industrial Area, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
11.05.1993 |
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Com. Reg. No.: |
91050 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Distributors of
Water Treatment Materials, Gas and Oilfield Equipment, Engineering and
Construction Materials. |
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No. of Employees : |
180 |
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 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 |
|
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 :
GLOBAL INTERNATIONAL GENERAL TRADING & CONTRACTING CO
WLL
Country of Origin : Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date : 11th
May 1993
Commercial
Registration Number : 91050
Trade Licence
Number :
2710/2002
Chamber Membership
Number : 35639
Issued Capital : KD
1,500,000
Paid up Capital : KD
1,500,000
Total Workforce : 180
Activities :
Distributors of water treatment materials, gas and oilfield equipment,
engineering and construction materials.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Geril
Augastine, Finance Manager
GLOBAL
INTERNATIONAL GENERAL TRADING & CONTRACTING CO WLL
Building : Shop No 39, 40, 41 & 42
Area : Ahmadi Industrial Area
PO Box : 55887
Town : Sabahiya 54569
Country : Kuwait
Telephone : (965) 23987280 / 23987256 / 23984081
Facsimile : (965) 23987121
Mobile : (965) 66006888
Email : global@globalintl.com / e.global@globalinte.com
Subject operates
from a large suite of offices and showrooms that are rented and located in the
Industrial Area of Sabahiya.
Name Nationality Position
·
Anthony
Arngari Raphael Indian Managing Director
·
Jose
Arngari Raphael Indian Director
·
Hussain
Abdullah Ahmed Gowahar Kuwaiti Director
·
Geril
Augastine - Finance
Manager
·
Jisha
Krishnan - Purchasing
Manager
Date of Establishment : 11th
May 1993
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 91050
Trade
Licence No. : 2710/2002
Chamber Member No. : 35639
Issued Capital : KD 1,500,000
Paid up Capital : KD 1,500,000
·
Anthony
Arngari Raphael
·
Jose
Arngari Raphael
·
Hussain
Abdullah Ahmed Gowahar
Activities: Engaged in the import and distribution of
water treatment materials, gas and oilfield equipment,
engineering and construction
materials.
Import
Countries: Sweden and South
Korea
International Suppliers:
·
Sandvik Sweden
·
Superlok South Korea
Operating Trend: Steady
Subject has a
workforce of 180 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 15,575,000 KD 16,800,000
Local sources consider
subject’s financial condition to be Fair.
The above figures
were provided by Mr Geril Augastine, Finance Manager
·
Gulf
Bank
Sabahiya
Tel: (965) 1805805
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.60.67 |
|
|
1 |
Rs.100.81 |
|
Euro |
1 |
Rs.80.73 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
|
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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 |
|
|
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.