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Report Date : |
01.12.2014 |
IDENTIFICATION DETAILS
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Name : |
LANA GENERAL
TRADING CO FOR FOODSTUFF WLL |
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Registered Office : |
Salem Al Mubarak
Street, Plot No. 9, Salmiya Area, P O Box: 344, Salmiya 22004 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
06.06.2010 |
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Com. Reg. No.: |
334934 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Wholesalers and Retailers
of General Foodstuff Products. |
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No. of Employees : |
15 |
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) |
|
Kuwait |
A2 |
A2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
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
Taiwan has a dynamic capitalist
economy with gradually decreasing government guidance of investment and foreign
trade. Exports, led by electronics, machinery, and petrochemicals have provided
the primary impetus for economic development. This heavy dependence on exports
exposes the economy to fluctuations in world demand. Taiwan's diplomatic
isolation, low birth rate, and rapidly aging population are other major
long-term challenges. Free trade agreements have proliferated in East Asia over
the past several years, and following the landmark Economic Cooperation
Framework Agreement (ECFA) signed with China in June 2010, Taiwan in July 2013
signed a free trade deal with New Zealand Taipei’s first-ever with a country
with which it does not maintain diplomatic relations and in November inked a
trade pact with Singapore. Negotiations continue on follow-on components of
ECFA regarding trade in goods and a dispute resolution mechanism; a trade in
services agreement is under review in the legislature. Taiwan's Total Fertility
rate of just over one child per woman is among the lowest in the world, raising
the prospect of future labor shortages, falling domestic demand, and declining
tax revenues. Taiwan's population is aging quickly, with the number of people
over 65 accounting for 11.2% of the island's total population as of 2012. The
island runs a large overall trade surplus largely because of its surplus with
China, and its foreign reserves are the world's sixth largest, behind China,
Japan, Saudi Arabia, Russia, and Switzerland. In 2006 China overtook the US to
become Taiwan's second-largest source of imports after Japan. China is also the
island's number one destination for foreign direct investment. Taiwan since
2009 has gradually loosened rules governing Chinese investment on the island,
and has also secured greater market access for its investors in the mainland.
In August 2012, Taiwan Central Bank signed a memorandum of understanding on
cross-Strait currency settlement with its Chinese counterpart. The MOU allows
for the direct settlement of Chinese RMB and the New Taiwan dollar across the
Strait, which could help develop Taiwan into a local RMB hub. Closer economic
links with the mainland bring greater opportunities for the Taiwan economy, but
also poses new challenges as the island becomes more economically dependent on
China while political differences remain unresolved.
|
Source
: CIA |
Company Name : LANA
GENERAL TRADING CO FOR FOODSTUFF WLL
Country of Origin : Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date : 6th
June 2010
Commercial
Registration Number : 334934
Chamber Membership
Number : 123708
Issued Capital : KD
100,000
Paid up Capital : KD
100,000
Total Workforce : 15
Activities :
Wholesalers and retailers of general foodstuff products.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Shaheer Osama Abdul Salam, Assistant General Manager
LANA GENERAL
TRADING CO FOR FOODSTUFF WLL
Street : Salem Al Mubarak Street, Plot
No. 9
Area : Salmiya Area
PO Box : 344
Town : Salmiya 22004
Country : Kuwait
Telephone : (965) 25733151 / 22249100 / 22249505
Facsimile : (965) 25733171 / 22249101 / 24718061
Mobile : (965) 66428888 / 94475551
Email : laana.palm@gmail.com / enquiry @lanafood.com / shaheer@lanafoodstuff.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Salmiya.
Branch Office
(s)
Location Description
·
Amgara
Area Warehouse
premises
Tel: (965) 24584979
Name Nationality Position
·
Ali Abdulreda Ahmed Ali Al Boloushi Kuwaiti Managing Director
·
Ibrahim Ali Ibrahim Al Tariri Kuwaiti Director
·
Osama Abdul Salam Syrian General Manager
·
Shaheer Osama Abdul Salam - Assistant General
Manager
·
Mostafa Awni - Sales
Manager
Date of Establishment : 6th
June 2010
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 334934
Chamber Member No. : 123708
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
·
Ali Abdulreda Ahmed Ali Al Boloushi
·
Ibrahim Ali Ibrahim Al Tariri
·
Al
Yusra Company
Safat
Activities: Engaged in the wholesale and retail of
general foodstuff products, specialising in frozen
poultry and meat, frozen seafood, spices, nuts, seeds and charcoal.
Import
Countries: Brazil
International Suppliers:
·
GBC International Brazil
·
Tyson Brazil
·
Seara Brazil
Operating Trend: Steady
Subject has a
workforce of 15 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 925,000 KD 1,130,000
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
Salmiya
Tel: (965) 25715989
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.61.97 |
|
|
1 |
Rs.97.37 |
|
Euro |
1 |
Rs.77.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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 |
-- |
|
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.