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Report Date : |
08.07.2014 |
IDENTIFICATION DETAILS
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Name : |
HAITHAM ABDUL REDHA KAKOOLI FURNITURE |
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Registered Office : |
Gallieria Complex, Mezzanine Floor, Shop No. 9,7,10, South Farwaniya, PO Box : 43555, Safat 32050 |
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Country : |
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Date of Incorporation : |
05.02.2008 |
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Com. Reg. No.: |
323521, Safat |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Subject is engaged in the wholesale and retail of furniture and
related accessories. |
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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 – 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 :
HAITHAM ABDUL REDHA KAKOOLI FURNITURE
Country of Origin :
Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date :
5th February 2008
Commercial Registration Number :
323521, Safat
Trade Licence Number :
5540/2007
Chamber Membership Number :
113078
Issued Capital :
KD 100,000
Paid up Capital :
KD 100,000
Total Workforce :
18
Activities :
Wholesale and retail of furniture and related accessories
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
T M Mohiddine , Finance Manager
HAITHAM
ABDUL REDHA KAKOOLI FURNITURE
Registered &
Physical Address
Building : Gallieria
Complex, Mezzanine Floor, Shop No. 9,7,10
Area : South
Farwaniya
PO Box : 43555
Town : Safat 32050
Country : Kuwait
Telephone : (965) 24343770
/ 24343880
Facsimile : (965) 24340503
Mobile : (965)
99781888 / 66583385 / 55220936
Email :
kakoolikakooli@hotmail.com
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Safat.
Branch Offices
Location Description
Boubyan Complex Rented
showroom premises
Safat
Tel: (965) 24314147 / 24314148
Name Position
Haitham Abdul Redha Kakooli Managing
Director
Mohamed Abdul Redha Kakooli Director
T M Mohiddine Finance
Manager
Date of Establishment : 5th February 2008
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 323521,
Safat
Trade Licence No. : 5540/2007
Chamber Member No. : 113078
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Name of
Shareholder (s)
Haitham Abdul Redha Kakooli
Mohamed Abdul Redha Kakooli
Activities: Engaged in the
wholesale and retail of furniture and related accessories.
Import Countries: Belgium
International
Suppliers:
Romainnes Belgium
Subject has a workforce of 18 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.
Commercial Bank of Kuwait
Mubarak Al Kabir Street
PO Box: 2861
Safat 13029
Tel: (965) 22411001
Fax: (965) 22450150
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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.59.95 |
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|
1 |
Rs.102.78 |
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Euro |
1 |
Rs.81.39 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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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 |
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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.