|
Report Date : |
30.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
AL MADI PLUS FOR GENERAL TRADING &
CONTRACTING CO |
|
|
|
|
Registered Office : |
Mutaab Al Mutairi
Building, Office No. 4, Block No. 7, Jaleeb Al Sheyoukh, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
24.02.2009 |
|
|
|
|
Com. Reg. No.: |
78718 |
|
|
|
|
Legal Form : |
General Partnership |
|
|
|
|
Line of Business : |
wholesaler and retailer of readymade garments and
textiles. |
|
|
|
|
No. of Employees : |
08 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Kuwait |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
Concern Name : AL MADI PLUS FOR GENERAL TRADING & CONTRACTING CO
Country of Origin : Kuwait
Legal Form : General Partnership
Registration Date : 24th February 2009
Commercial Registration Number : 78718
Trade Licence Number : 1263/99
Chamber Membership Number : 118270
Partners Capital : KD 50,000
Total Workforce : 8
Activities : Wholesalers and retailers of readymade garments and textiles
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
AL MADI PLUS FOR
GENERAL TRADING & CONTRACTING CO
Registered &
Physical Address
Building : Mutaab Al Mutairi Building,
Office No. 4, Block No. 7
Area : Jaleeb Al Sheyoukh
PO Box : 1344
Town : Kuwait City 92400
Country : Kuwait
Mobile : (965) 99717400
Email : madibls@hotmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Kuwait City.
Branch Office (s)
Location Description
·
Mubarakkiya
Souk, Shop No. 21 Office
& showroom premises
Safat
Name Position
·
Khalil
Mohamed Khalili Al Mutairi Managing
Partner
·
Mohamed
Khalil Mohamed Khalili Al Mutairi Partner
·
Ahmed
Khalil Mohamed Khalili Al Mutairi Partner
·
Faisal
Khalil Mohamed Khalili Al Mutairi Partner
·
Saud
Khalil Mohamed Khalili Al Mutairi Partner
·
Safooq
Khalil Mohamed Khalili Al Mutairi Partner
·
Tahani
Musayer Al Mutairi Partner
·
Zaid
Faris Al Mutairi General
Manager
Date of Establishment : 24th February
2009
Legal Form :
General Partnership
Commercial Reg. No. : 78718
Trade Licence No. : 1263/99
Chamber Member No. : 118270
Partners Capital : KD 50,000
Name of Partner
(s)
·
Khalil
Mohamed Khalili Al Mutairi
·
Mohamed
Khalil Mohamed Khalili Al Mutairi
·
Ahmed
Khalil Mohamed Khalili Al Mutairi
·
Faisal
Khalil Mohamed Khalili Al Mutairi
·
Saud
Khalil Mohamed Khalili Al Mutairi
·
Safooq
Khalil Mohamed Khalili Al Mutairi
·
Tahani
Musayer Al Mutairi
Activities: Engaged in the wholesale and retail of
readymade garments and textiles.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 8 employees.
Companies
registered in Kuwait are not legally required to make their accounts public and
no financial information was released by the concern or submitted by outside
sources.
·
National
Bank of Kuwait SAK
Ali Awadi Tower
Ahmed Al Jaber Street
PO Box: 95
Safat 13001
Tel: (965) 23981188 / 23981189
Fax: (965) 23985643
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
concern is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.20 |
|
|
1 |
Rs.103.12 |
|
Euro |
1 |
Rs.84.96 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.