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Report Date : |
22.01.2014 |
IDENTIFICATION DETAILS
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Name : |
REZAYAT TRADING COMPANY LIMITED |
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Registered Office : |
Street No. 10, Area 1, Block 87/88, Off |
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Country : |
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Date of Incorporation : |
1946 |
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Com. Reg. No.: |
5924, Safat |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Subject’s operations are performed through the following divisions: Cargo Division, Shipping Division,
Maintenance Division |
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No. of Employees : |
800 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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.
|
Source
: CIA |
Company Name :
REZAYAT TRADING COMPANY LIMITED
Country of Origin :
Kuwait
Legal Form :
With Limited Liability – WLL
Start Date :
1946
Registration Date :
4th February 1960
Commercial Registration Number :
5924, Safat
Trade Licence Number :
671/92
Chamber Membership Number :
431
Issued Capital :
KD 1,000,000
Paid up Capital :
KD 1,000,000
Total Workforce :
800
Activities :
Provision of shipping, cargo and maintenance services
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Sanjay Bretto, Financial Controller
REZAYAT TRADING
COMPANY LIMITED
Registered &
Physical Address
Street : Street No. 10, Area 1, Block 87/88,
Off Canada Dry Street
Area : Shuwaikh
Industrial Area
PO Box : 106
Town : Safat 13002
Country : Kuwait
Telephone : (965) 24816836
/ 24842022 / 24842400 / 23710147
Facsimile : (965) 24831030
/ 24810270
Email : etckwt@ncc.moc.kw
/ rtckwt@qualitynet.net / alfares@rezayatkwt.com / sanjay@rezayatkwt.com
Premises
Subject operates from a large suite of offices, storage facilities and a
workshop that are owned and located in the Industrial Area of Safat.
Branch Office (s)
Rezayat has a number of representative offices located in the Middle
East, such as Dubai, Abu Dhabi, Ajman, Oman and Saudi Arabia, as well as the
United States of America, the United Kingdom, France and Hong Kong.
Name Nationality Position
Abdullah Abdul Ghaffar Alireza Saudi Managing Director
Teymour Abdullah Alireza Saudi Director
Fahad Abdullah Alireza Saudi Director
Abdullah A Redha Kuwaiti Director
Gamal H Al Faris - General
Manager
Abdulrazaq A Ghayath - Purchasing
Manager
Vijendra Indurti - Finance
Manager
Ramesh Kumar - Operations
Manager
Sanjay Bretto - Financial
Controller
Date of
Establishment : Subject’s
operations date back to 1946, however it was registered on 4th
February 1960
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 5924, Safat
Trade Licence No. : 671/92
Chamber Member No. : 431
Issued Capital : KD 1,000,000
Paid up Capital : KD 1,000,000
Name of
Shareholder (s) Percentage
Abdullah A Redha 51%
Abdullah Abdul Ghaffar Alireza ]
]
Teymour Abdullah Alireza ] 49%
]
Fahad Abdullah Alireza ]
Subject is a member of the Alireza Group, which is a privately owned organisation
based in the Arabian Peninsula. Its main activities are concentrated in the
Middle East and cover a wide spectrum of industrial and commercial interests.
The Alireza Group has extended its operations into the United States of America
where it has made substantial investments in industrial activities and has
become actively involved in property development and management. The group has
also formed a joint venture company in Hong Kong in conjunction with a
prominent Chinese group with the objective of participating in commercial and
industrial activities in China and elsewhere in South East Asia.
The Alireza Group of Companies comprises the following concerns :
Kuwait
International Tank and Pipes Co
PO Box : 106
Safat 13002
Tel : (965) 4816836
Fax : (965) 4831030
Supply Services Co
PO Box : 106
Safat 13002
Tel : (965) 4836816
Fax : (965) 4831030
Land & Marine National Co
PO Box : 106
Safat 13002
Tel : (965) 4816836
Fax : (965) 4831030
Al Reza Closed Co
PO Box : 106
Safat 13002
Tel : (965) 4816836
Fax : (965) 4831030
Rezayat Real Estate Co
PO Box : 106
Safat 13002
Tel : (965) 4816836
Fax : (965) 4831030
Al Taqadoom Garage
PO Box : 106
Safat 13002
Tel : (965) 4843535
Fax : (965) 4831030
National Contracting Co
Shuwaikh Industrial Area
PO Box : 106
Safat 13002
Tel : (965) 4842400
Fax : (965) 4810270
National Drilling Co
Intec Co Ltd
National Aggregate & Asphalt Co
The Lamnalco Co
Saudi Arabia
Arabian Mechanical Engineering Company Ltd
National Pipes Co
Saudi Arabian Fabricated Metal Industry Ltd
Saudi Arabian Engineering Co Ltd (SAECO)
Catering Services Co Ltd
National Contracting Co Ltd
Rezayat Trading Establishment
Saudi Arabia Ports Service Co Ltd
Intec Ltd
Transmarine Transportation Services Co Ltd
International Tank & Pipe Establishment
National Construction Co Ltd
International Electronic Co Ltd
Rezcan Coatings & Linings Ltd
Lamnalco Saudi Arabia Ltd
Corrosion Prevention Arabia Ltd
National Aggregate and Asphalt Co Ltd
United Arab Emirates
National Contracting Co Ltd
Abu Dhabi Petroleum Ports Operating Co (ADPPOC)
Lamnalco (Sharjah) Ltd
Oman
National Contracting Co Ltd
Kassara Transport Co
United Kingdom
Rezayat Europe Ltd
France
Rezayat Europe Ltd
United States of America
Rezayat America Inc
Hong Kong
Foreza Holdings Ltd
Activities: Subject’s operations are performed through the following divisions:
Cargo Division
Stevedoring, ship handling, packaging & removals, as well as cargo
handling.
Shipping Division
Shipping agents, freight forwarding, survey and inspection services and
customs clearance services.
Maintenance Division
This division provides complete maintenance services for the Alireza
Group of Companies and for other clients, including governmental departments.
Services range from normal repairs to civil structures, including
plumbing, carpentry and masonry work to
maintenance of electrical distribution systems, air conditioning and
refrigeration units, from operation of water
treatment and sewage plants to mending roads, family residential
accommodation and diesel power
generation plants.
Import Countries: The United States of America, the United Kingdom,
Norway, Austria, Germany, France, the
Netherlands and the United
Arab Emirates
International Suppliers:
Sealand Services Inc United
States of America
Cooper Oil Tools United
States of America
Afton Pumps United
States of America
WSA United
States of America
Du Pont United
States of America
Hex Valves United
States of America
ICI Plc United
Kingdom
Allem Power Engineering United
Kingdom
Sampson International United
Kingdom
Cochran Boilers United
Kingdom
Victor Products Ltd United
Kingdom
Custom Control Sensors International (CCS) United Kingdom
Bicotest Ltd United
Kingdom
Norsk Jernverk A/S Norway
Voest Alpine Austria
Balcke Durr Germany
Eurocat SA France
Mokveld Valves
Netherlands
Arabian Liquid Chemicals United Arab Emirates
Subject has a workforce of approximately 800 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.
Bank of Kuwait & the Middle East KSC
Abdullah Al Salem Street
Darwaza Abdul Razzak
PO Box: 71
Safat 13001
Tel: (965) 2459771
Fax: (965) 2461430
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.54 |
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|
1 |
Rs.101.08 |
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Euro |
1 |
Rs.83.38 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
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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.