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Report Date : |
01.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
NAIF POULTRY CO KSCC |
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Registered Office : |
Canada Dry Street, Shuwaikh Industrial Area No. 1, Plot No. 30, 3717,
Safat 13038 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
16.04.1978 |
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Com. Reg. No.: |
23013, Safat |
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Legal Form : |
Kuwaiti Shareholding Company Closed - KSCC |
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Line of Business : |
Engaged in the production of poultry feed and the import and
distribution of agricultural fertilizers, incubators and related equipment. |
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|
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No of Employees : |
250 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 :
NAIF POULTRY CO KSCC
Country of Origin :
Kuwait
Legal Form :
Kuwaiti Shareholding Company Closed - KSCC
Registration Date :
16th April 1978
Commercial Registration Number :
23013, Safat
Trade Licence Number :
1195/2005
Chamber Membership Number :
6985
Issued Capital :
KD 9,000,000
Paid up Capital :
KD 9,000,000
Total Workforce :
250
Activities :
Producers of poultry feed and the import and distribution of agricultural
fertilizers, incubators and related
equipment.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Nabil Naim, Financial Controller
NAIF POULTRY CO KSCC
Street : Canada Dry
Street
Area : Shuwaikh
Industrial Area No. 1, Plot No. 30
PO Box : 3717
Town : Safat 13038
Country : Kuwait
Telephone : (965) 24834998
/ 24834999 / 24849380
Facsimile : (965) 24849380
Email : naifpoul@hotmail.com
Subject operates from a large suite of offices and a factory that are
owned and located in the Industrial Area of Safat.
Name Position
· Meshal Bader Al
Bazie Al Yaseen Managing
Director
· Bader Al Bazie Al
Yaseen Director
· Masheal Al Bazie General
Manager
· Yousef Zaidan Commercial
Manager
· Ghassan Zaidan Production
Manager
· Fekri Rajab Allam Financial
Manager
· Nabil Naim Financial
Controller
· Wael Al Khateeb Accountant
Date of
Establishment : 16th
April 1978
Legal Form : Kuwaiti
Shareholding Company Closed - KSCC
Commercial Reg.
No. : 23013, Safat
Trade Licence No. : 1195/2005
Chamber Member No. : 6985
Issued Capital : KD 9,000,000
Paid up Capital : KD 9,000,000
· Hadia Holding
Safat
· Shamsman General
Trading Co
Safat
· Naif Food Co
Safat
· Kuwait
Agricultural Investment Co WLL
Canada Dry Street
Shuwaikh
Industrial Area
PO Box: 3717
Safat 13038
Tel: (965) 24834998
/ 24834999
Fax: (965)
24849380
Email: naifpoul@qualitynet.net
· Agricultural
Supplies & Foodstuff Co
PO Box: 42335
Shuwaikh
Industrial Area
Safat
Tel: (965)
24834998
Fax: (965)
24849380
· Naif Nursery Co
PO Box: 3717
Shuwaikh
Industrial Area
Safat
Tel: (965)
24834998
Fax: (965)
24849380
· Naif Dairy Farm Co
PO Box: 3717
Safat 13038
Tel: (965)
24837753 / 24810260
Fax: (965)
24849380
· Naif Food Co
PO Box: 3717
Safat 13038
Tel: (965)
22466371
Fax: (965) 22412761
· Bu Ali Poultry Co
PO Box: 3717
Safat 13038
Tel: (965)
24834999
Fax: (965)
24849380
· Waterfront
Restaurant Co
PO Box: 3717
Safat 13038
Tel: (965)
22419922
Fax: (965)
22460935
· Al Afia Poultry Co
PO Box: 3717
Safat 13038
Tel: (965)
24834998
Fax: (965)
24849380
· Shamsan General
Trading Co
PO Box: 3717
Safat 13038
Tel: (965)
22466370
Fax: (965)
22469838
Activities: Engaged in the production of poultry feed and the import and
distribution of agricultural fertilizers,
incubators and related equipment.
Import Countries: United Kingdom and the United States of America
International Suppliers:
· Brinsea Products
Ltd United Kingdom
· R Breaker United States of
America
Operating Trend: Steady
Subject has a workforce of approximately 250 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
8,200,000 KD
8,680,000
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
·
National Bank of Kuwait
Ali Awadi Tower
Ahmed Al Jaber Street
PO Box: 95
Safat 13001
Tel: (965) 23981188 / 23981189
Fax: (965) 23985643
No complaints regarding subject’s payments have been reported.
Credit amount 26,000 308,000 118,000
Amount overdue 0 0 0
Payment terms 30
days 90
days 90
days
Payment Method Letters
of Credit Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints No
Complaints
Currency US
Dollars Euros Euros
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
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
|
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.