|
Report Date : |
06.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
AL LUJAIN FOODSTUFF FOR PACKING AND PACKAGING
EST |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
28.03.2005 |
|
|
|
|
Com. Reg. No.: |
35531 |
|
|
|
|
Legal Form : |
Sole Proprietorship Concern |
|
|
|
|
Line of Business : |
Engaged in the import,
packaging and distribution of rice, dried food, tea and sugar. |
|
|
|
|
No. of Employees : |
21 |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 - about 7% of world reserves. Petroleum accounts for nearly half of GDP, 95% of export sales, and 95% of government income. Kuwaiti officials have committed to increasing oil production to 4 million barrels per day by 2020. The rise in global oil prices throughout 2011 and 2012 is reviving government consumption and economic growth. Kuwait has experienced a 20% increase in government budget sale, which has led to higher budget expenditures, particularly wage hikes for many public sector employees. 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.
|
Source : CIA |
Concern Name : AL LUJAIN FOODSTUFF FOR PACKING AND PACKAGING EST
Country of Origin : Kuwait
Legal Form : Sole Proprietorship
Registration Date : 28th March 2005
Commercial Registration Number : 35531
Trade Licence Number : 24795
Chamber Membership Number : 93884
Invested Capital : KD 80,000
Total Workforce : 21
Activities : Packaging and distribution of rice, dried food, tea and sugar
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Khalid Zaid Al Khalid, Proprietor & General Manager
AL LUJAIN FOODSTUFF
FOR PACKING AND PACKAGING EST
Registered &
Physical Address
Street : Canada Dry Street
Area : Shuwaikh Industrial Area
PO Box : 4890
Town : Safat 13049
Country : Kuwait
Telephone : (965) 24810803 / 24839003 / 1809980
Facsimile : (965) 24839244
Email : buzaid@outlook.com / alkhalid@q8online.com
Premises
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Industrial Area of Safat.
Name Position
·
Khalid
Zaid Al Khalid Proprietor
& General Manager
Date of Establishment : 28th
March 2005
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 35531
Trade Licence No. : 24795
Chamber Member No. : 93884
Invested Capital
: KD 80,000
Mr Khalid Zaid Al
Khalid is the sole proprietor of the business.
Activities: Engaged in the import, packaging and
distribution of rice, dried food, tea and sugar.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 21 employees.
Financial
highlights provided by local sources are given below:
Currency: Kuwaiti
Dinar (KD)
Year
Ending 31/12/12: Year
Ending 31/12/13:
Total Sale KD 1,400,000 KD 1,530,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Kuwait
Finance House (KFH)
Safat Square
Abdullah Al Mubarak Street
PO Box: 24989
Safat 13110
Tel: (965) 22445050
Fax: (965) 22455135
No complaints regarding
subject’s payments have been reported.
Local sources
report that subject meets its payments in a timely manner and is considered to
be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.45 |
|
|
1 |
Rs.102.00 |
|
Euro |
1 |
Rs.84.35 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.