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Report Date : |
09.07.2014 |
IDENTIFICATION DETAILS
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Name : |
AL RAYA CATERING CO WLL |
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Registered Office : |
Building No. 137,
Block No. 1, |
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Country : |
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Financials (as on) : |
31.12.2013 (Estimated) |
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Date of Incorporation : |
11.05.2002 |
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Com. Reg. No.: |
88784 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Engaged in the provision
of catering services and manufacturers of ready meals |
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No of Employees : |
100 |
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
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
|
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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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate 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 K uwait’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.
|
Source
: CIA |
Company Name : AL RAYA CATERING CO WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 11th May 2002
Commercial Registration Number : 88784
Chamber Membership Number : 77550
Issued Capital : KD 50,000
Paid up Capital : KD 50,000
Total Workforce : 100
Activities : Providers of catering services and manufacturers of ready meals
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Nabil Mahmoud Al Tala, Director
AL RAYA CATERING CO WLL
Registered &
Physical Address
Building : Building No. 137, Block No. 1
Street : Al Gazali Street
Area : Al Rai
Town : Safat
Country : Kuwait
Telephone : (965) 25320197 / 24756656 / 24755557
Facsimile : (965) 24756656
Mobile : (965) 90081185 / 99343555
Email : nabil-tla@hotmail.com
Premises
Subject operates from
a medium sized suite of offices and a factory that are rented and located in
the Industrial Area of Safat.
Name Nationality Position
·
Abdullatif
Mahmoud Al Tala Syrian Managing Director
·
Nabil
Mahmoud Al Tala Syrian Director
·
Faisal
Abdul Majeed Abdul Satar Hassan Kuwaiti Director
·
Nawras
Mohamed Al Rowoh - General
Manager
·
Mohamed
Aref - Accountant
Date of Establishment : 11th
May 2002
Legal Form :
With Limited Liability - WLL
Commercial Reg. No. : 88784
Chamber Member No. : 77550
Issued Capital : KD 50,000
Paid up Capital : KD 50,000
Name of
Shareholder (s)
·
Abdullatif
Mahmoud Al Tala
·
Nabil
Mahmoud Al Tala
·
Faisal
Abdul Majeed Abdul Satar Hassan
Activities: Engaged in the provision of catering
services and manufacturers of ready meals.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 100 employees.
Financial highlights provided by local
sources are given below:
Currency: Kuwaiti
Dinars (KD)
Year
Ending 31/12/12: Year
Ending 31/12/13:
Total Sales KD 3,400,000 KD 3,750,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local 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
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.79 |
|
UK Pound |
1 |
Rs.102.42 |
|
Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
<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.