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Report Date : |
14.07.2014 |
IDENTIFICATION DETAILS
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Name : |
JARIAH FOODSTUFF CO WLL |
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Registered Office : |
Off 4th Ring Road, Al Rai District, Plot No.1, Block No. 356, Ali Abdul Ali Mubarak Street (Street No. 29), PO Box : 25352, Safat 13114 |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
04.11.1996 |
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Com. Reg. No.: |
66978, Safat |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Subject’s operations are performed through the following divisions: ·
Trading
Division ·
Ocean
Air conditioning Division |
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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
|
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 :
JARIAH FOODSTUFF CO WLL
Country of Origin :
Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date :
4th November 1996
Commercial Registration Number :
66978, Safat
Trade Licence Number :
96/841
Chamber Membership Number :
51275
Issued Capital :
KD 150,000
Paid up Capital :
KD 150,000
Total Workforce :
18
Activities :
Subject operates several divisions (see below for details)
Financial Condition :
Fair
Payments : Nothing detrimental
uncovered
Operating Trend :
Steady
Person Interviewed :
Ismail Jawad Mitwalli Gadallah, Director
JARIAH FOODSTUFF
CO WLL
Registered &
Physical Address
Location : Off 4th
Ring Road, Al Rai District, Plot No.1, Block No. 356
Street : Ali Abdul
Ali Mubarak Street (Street No. 29)
PO Box : 25352
Town : Safat 13114
Country : Kuwait
Telephone : (965) 24749997
/ 24749998 / 24749996 / 24722666 / 24722888
Facsimile : (965) 24766810
Mobile : (965)
99464321 / 99996418 / 99775072
Email : jariahq8@hotmail.com
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Central Business Area of Safat.
Name Nationality Position
Hamed Hamd Al Mishari Kuwaiti Managing
Director
Ismail Jawad Mitwalli Gadallah
Egyptian Director
Sahar Abdulaziz Al Rumaih Kuwaiti Director
Adham El Sayed Omar Taha - Commercial
Manager
Hassan Ahmed Hassan - Sales
Manager
Ahmed Fayez - Financial
Controller
Ahmed Sabri
- Sales Executive
Date of Establishment : 4th November 1996
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 66978, Safat
Trade Licence No. : 96/841
Chamber Member No. : 51275
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
Name of
Shareholder (s)
Hamed Hamd Al Mishari
Ismail Jawad Mitwalli Gadallah
Sahar Abdulaziz Al Rumaih
Activities: Subject’s
operations are performed through the following divisions:
Trading Division
Engaged
in the import and distribution of general foodstuff products and beverages.
Ocean Air
conditioning Division
Engaged
in the maintenance and installation of air conditioning and ventilation units.
Import Countries: Europe
and the Far East
Agencies Held:
Gloria Saudi
Arabia
LENA Saudi
Arabia
Wadi Fatema Saudi
Arabia
Furjelo Egypt
Serji Co India
Brand Names: JARIAH
and QURTUBAH
Operating Trend: Steady
Subject has a workforce of 18 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
3,600,000 KD
4,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Kuwait Finance House (KFH)
Safat Square
Abdullah Al Mubarak Street
PO Box: 24989
Safat 13110
Tel: (965) 22445050
Fax: (965) 22455135
No complaints regarding subject’s payments have been reported.
Established in 1996, subject is involved in the import and distribution
of general foodstuff products and beverages.
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.60.19 |
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|
1 |
Rs.103.15 |
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Euro |
1 |
Rs.81.87 |
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.