MIRA INFORM REPORT
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Report Date : |
25.01.2014 |
IDENTIFICATION DETAILS
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Name : |
SAJER INTERNATIONAL EST FOR IMPORT &
EXPORT |
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Registered Office : |
Hanan Complex,
Office No. 1, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
14.12.1989 |
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Com. Reg. No.: |
7705 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
importer and distributor of scrap metal, rubber,
tyres and PVC. |
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No. of Employees : |
05 |
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 |
Concern Name : SAJER INTERNATIONAL EST FOR IMPORT & EXPORT
Country of Origin : Kuwait
Legal Form : Sole Proprietorship
Registration Date : 14th December 1989
Commercial Registration Number : 7705
Trade Licence Number : 5311/1989
Chamber Membership Number : 39075
Invested Capital : KD 50,000
Total Workforce : 5
Activities : Distributors of scrap metal, rubber, tyres and PVC.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Arshad Abdul Qyum Awan, Sales Manager
SAJER INTERNATIONAL
EST FOR IMPORT & EXPORT
Registered &
Physical Address
Building : Hanan Complex, Office No. 1
Street : Usman Street
Area : Hawalli
PO Box : 31340
Town : Sulaibikhat 90804
Country : Kuwait
Telephone : (965) 55914797 / 55857492
Facsimile : (965) 55914797
Mobile : (965) 97913620
Email : arshad.awan@hotmail.com
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Sulaibikhat.
Name Position
·
Mohamed
Daeef Hatim Al Otaibi Proprietor
·
Mirza
Muneer Beg General
Manager
·
Arshad
Abdul Qyum Awan Sales
Manager
Date of Establishment : 14th
December 1989
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 7705
Trade Licence No. :
5311/1989
Chamber Member No. : 39075
Invested Capital
: KD 50,000
Mr Mohamed Daeef Hatim
Al Otaibi is the sole proprietor of the business.
·
Kuwait
Pakistan International & Refrigeration Co
Safat
Activities: Engaged in the import and distribution of
scrap metal, rubber, tyres and PVC.
Import Countries: Europe and the Far East.
Export
Countries: Pakistan
Operating Trend: Steady
Subject has a
workforce of 5 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 Revenue KD 1,525,000 KD 1,600,000
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
Sulaibikhat
Tel: (965) 24870989
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.62.18 |
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|
1 |
Rs.103.38 |
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Euro |
1 |
Rs.85.09 |
INFORMATION DETAILS
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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.