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Report Date : |
23.01.2014 |
IDENTIFICATION DETAILS
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Name : |
AL AQEELAH AL WATANIYA CO WLL |
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Registered Office : |
Block A, Building 9, Shuwaikh 3rd Industrial Area, PO Box :
11831, Dasman 35159 |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
08.03.2006 |
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Com. Reg. No.: |
112656 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Subject is engaged in the import and distribution of general
foodstuffs and canned foods. |
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No. of Employees : |
18 |
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 :
AL AQEELAH AL WATANIYA CO WLL
Also Known As : AL
AQEELAH AL WATANIYA GENERAL TRADING & CONTRACTING CO WLL
Country of Origin :
Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date :
8th March 2006
Commercial Registration Number :
112656
Trade Licence Number :
1084/2006
Chamber Membership Number :
100167
Issued Capital :
KD 250,000
Paid up Capital :
KD 250,000
Total Workforce :
18
Activities :
Distributors of general foodstuffs and canned foods
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
AL AQEELAH AL
WATANIYA CO WLL
ALSO KNOWN AS: AL AQEELAH AL
WATANIYA GENERAL TRADING & CONTRACTING CO WLL
Registered &
Physical Address
Building : Block A,
Building 9
Area : Shuwaikh 3rd
Industrial Area
PO Box : 11831
Town : Dasman 35159
Country : Kuwait
Telephone : (965) 24929000
/ 24913137 / 24913138
Facsimile : (965) 24929222
Email : info@awc.com.kw
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Industrial Area of Dasman.
Name Position
Jaber Ahmed Ismail Hassan Managing
Director
Hussain Ali Al Raisi Director
Mahmoud Hussain Al Raisi Director
Halima Ghuloom Mahmoud Director
Date of Establishment : 8th March 2006
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 112656
Trade Licence No. : 1084/2006
Chamber Member No. : 100167
Issued Capital : KD 250,000
Paid up Capital : KD 250,000
Name of
Shareholder (s)
Jaber Ahmed Ismail Hassan
Hussain Ali Al Raisi
Mahmoud Hussain Al Raisi
Halima Ghuloom Mahmoud
Activities: Engaged in the
import and distribution of general foodstuffs and canned foods.
Import Countries: Europe
and GCC countries.
Operating Trend: Steady
Subject has a workforce of 18 employees.
Financial highlights provided by local sources are given below:
Currency: Kuwaiti Dinars (KD)
Year Ending 31/12/11: Year Ending 31/12/12:
Total Sales KD
1,400,000 KD
1,780,000
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
Shuwaikh
Tel: (965) 24814643
Fax: (965) 24837952
No complaints regarding subject’s payments have been reported.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.92 |
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|
1 |
Rs.101.98 |
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Euro |
1 |
Rs.83.93 |
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.