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Report Date : |
04.01.2014 |
IDENTIFICATION DETAILS
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Name : |
DAKHEEL AL JASSAR ELECTRICAL INDUSTRIES CO
WLL |
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Registered Office : |
Street No. 10, Plot No 117, North Entrance, Sabhan Industrial Area, |
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Country : |
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Date of Incorporation : |
26.01.1967 |
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Com. Reg. No.: |
107347 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Manufacturers of switchgear, control gear, cubicles and transformers. |
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No. of Employees : |
250 |
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
|
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 : DAKHEEL AL JASSAR ELECTRICAL INDUSTRIES CO WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 26th January 1967
Commercial Registration Number : 107347
Chamber Membership Number : 2712
Issued Capital : KD 1,000,000
Paid up Capital : KD 1,000,000
Total Workforce : 250
Activities : Manufacturers of switchgear, control gear, cubicles and transformers.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Mohamed Saad, Finance Manager
DAKHEEL AL JASSAR
ELECTRICAL INDUSTRIES CO WLL
Registered &
Physical Address
Street : Street No. 10
Area : Plot No 117, North Entrance, Sabhan Industrial Area
PO Box : 145
Town : Safat 13002
Country : Kuwait
Telephone : (965) 24718882 / 1844888 / 24811722 /
24843260
Facsimile : (965) 24718883
Mobile : (965) 97257292
Email : info@aljassar.com
Please note that subject’s previous address
was, Canada Dry Street, Shuwaikh, Safat.
Premises
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of Safat.
Branch Office (s)
Location Description
·
Al Jahra Industrial Area Showroom
premises
Tel: (965) 24563476
·
Electricity Street Showroom
premises
Shuwaikh
Tel: (965)
24832184
·
Ibn Khaldoun Street Showroom
premises
Hawalli
Tel: (965)
22633925
·
Tunis Street Showroom
premises
Hawalli
Tel: (965) 22632190
·
Mecca Street Showroom
premises
Fahaheel
Tel: (965)
23923681
Name Position
·
Abdullah Dakheel
Al Jassar Managing
Director
·
Adel Dakheel
Al Jassar Director
·
Jassar Dakheel
Al Jassar Director
·
Zayed Mosleh General
Manager
·
Amjad Anwar Commercial
Manager
·
Mohamed Saad Finance
Manager
·
Mahmoud El Masry Human
Resources Manager
Date of Establishment : 26th
January 1967
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 107347
Chamber Member No. : 2712
Issued Capital : KD 1,000,000
Paid up Capital : KD 1,000,000
Name of
Shareholder (s)
·
Abdullah Dakheel
Al Jassar
·
Adel Dakheel
Al Jassar
·
Jassar Dakheel
Al Jassar
·
Dakheel Al Jassar Est
·
Hayakel Steel Industries
·
Al Manara Trading and Contracting Co
·
Kitchen & Kitchen Est
Activities: Engaged in the manufacture of switchgear,
control gear, cubicles and transformers.
Import
Countries: Turkey, United Kingdom,
Germany, and the United States of America.
International
Suppliers:
·
Teknotes Technological Plants Co. Ltd Turkey
·
Crabtree United
Kingdom
·
Moeller Germany
·
Cutler-Hammer United
States of America
Subject has a
workforce of approximately 250 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.
·
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 payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk .
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.41 |
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|
1 |
Rs.102.54 |
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Euro |
1 |
Rs.85.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
-- |
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.