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Report Date : |
02.01.2014 |
IDENTIFICATION DETAILS
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Name : |
ANWAR AL SHARQIYA TRADE EST |
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Registered Office : |
Al |
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Country : |
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Date of Incorporation : |
26.04.2011 |
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Com. Reg. No.: |
338064 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged in the import and distribution of tents
and related fabrics as well as general foodstuff products. |
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No. of Employees : |
4 |
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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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Kuwait |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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
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 revenues, 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 revenue, 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.
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Source
: CIA |
Company Name :
ANWAR AL SHARQIYA TRADE EST
Country of Origin :
Kuwait
Legal Form :
Sole Proprietorship
Registration Date :
26th April 2011
Commercial Registration Number :
338064
Trade Licence Number :
3881/2007
Chamber Membership Number :
127699
Invested Capital :
KD 25,000
Total Workforce :
4
Activities :
Distributors of tents and related fabrics as well as general foodstuff
products.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Hussain Mahdi Ali, General Manager
ANWAR AL SHARQIYA
TRADE EST
Registered &
Physical Address
Building : Al Zuwaikh Building, Office No. 2, Ground Floor, Plot No. 55
Street : Al Matafi Street
PO Box : 41098, Jaleeb
Al Sheyoukh 85851
Town : Farwaniya
Country : Kuwait
Telephone : (965) 24763172
Facsimile : (965) 24333001 / 23260252
Mobile : (965) 66018081 / 99878770
Premises
Subject operates from a small suite of offices and a showroom that are rented
and located in the Central Business Area of Farwaniya.
Name Position
Ms Ibitsam Hassan Essa Proprietor
Hussain Mahdi Ali General
Manager
Date of Establishment : 26th April 2011
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 338064
Trade Licence No. : 3881/2007
Chamber Member No. : 127699
Invested Capital : KD 25,000
Ms Ibitsam Hassan Essa is the sole
proprietor of the business.
Activities: Engaged in the import and
distribution of tents and related fabrics as well as general foodstuff
products.
Import Countries: Europe
and the Far East.
Subject has a workforce of 4 employees.
Companies registered in Kuwait are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
Commercial Bank of Kuwait SAK
Farwaniya
Tel: (965) 24744808
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.93 |
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1 |
Rs.102.39 |
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Euro |
1 |
Rs.85.12 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
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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 |
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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.