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Report Date : |
05.07.2014 |
IDENTIFICATION DETAILS
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Name : |
CITY CENTRE INTERNATIONAL GENERAL TRADING CO WLL |
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Registered Office : |
Plot No 16A, Shuwaikh Industrial Area, PO Box : 28109, Safat 13142 |
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Country : |
Kuwait |
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Date of Incorporation : |
03.04.2007 |
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Com. Reg. No.: |
118104 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Subject is engaged as operators of a hypermarket, dealing
in general foodstuffs, toys,
readymade garments, electrical and electronic products. |
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No. of Employees : |
120 |
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 – March 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
KUWAIT - ECONOMIC OVERVIEW
Kuwait has a geographically small, but wealthy, relatively open economy with crude oil reserves of about 102 billion barrels - more than 6% 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. Budget surpluses have stayed around 30% of GDP, which has led to higher budget expenditures, particularly wage hikes for many public sector employees, as well as increased allotments to Kuwait’s Future Generations Fund. 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, though much of these funds have yet to be allocated.
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Source
: CIA |
Company Name :
CITY CENTRE INTERNATIONAL GENERAL TRADING CO WLL
Country of Origin :
Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date :
3rd April 2007
Commercial Registration Number :
118104
Trade Licence Number :
7160/2006
Chamber Membership Number :
107994
Issued Capital :
KD 100,000
Paid up Capital :
KD 100,000
Total Workforce :
120
Activities :
Operators of a hypermarket
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Reda Al Hefnawi, Assistant Administration Manager
CITY CENTRE
INTERNATIONAL GENERAL TRADING CO WLL
Registered &
Physical Address
Location : Plot No 16A
Area : Shuwaikh Industrial Area
PO Box : 28109
Town : Safat 13142
Country : Kuwait
Telephone : (965) 22282279 / 22282286
Facsimile : (965) 24813530
Mobile : (965) 97253904
Email : citycentre@qualitynet.net
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Industrial Area of Safat.
Please note that the correct PO Box number is 28109 and not 281009.
Branch Office (s)
Location Description
Building No. 6, Office No. 1, Block 40 Hypermarket
Pepsi Cola Street
Safat
Tel: (965) 1805222
Fax: (965) 24813530
Name Nationality Position
Adel Yacoub Jassim Al Ghanem Kuwaiti Managing Director
Mohamed Saeed Mohamed Al Aqailil Kuwaiti Director
Jayant Kumar Lal Jawan Indian Director
Jassim Al Ghanem - Chief
Executive Officer
Ajay Goyel - Chief
Operating Officer
Sandish Menon
- Finance
Manager
Reda Al Hefnawi - Assistant
Administration Manager
Date of Establishment : 3rd April 2007
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 118104
Trade Licence No. : 7160/2006
Chamber Member No. : 107994
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Name of
Shareholder (s)
Adel Yacoub Jassim Al Ghanem
Mohamed Saeed Mohamed Al Aqailil
Jayant Kumar Lal Jawan
Activities: Engaged as operators of a
hypermarket, dealing in general foodstuffs,
toys, readymade garments, electrical and electronic products.
Import Countries: Europe
and the Far East.
Subject has a workforce of 120 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.
Burgan Bank
PO Box: 5875
Safat 13054
Tel: (965) 22410818
Fax: (965) 22410819
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.59.79 |
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|
1 |
Rs.102.66 |
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Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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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 |
-- |
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.