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Report Date : |
04.06.2014 |
IDENTIFICATION DETAILS
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Name : |
RAJA COMPANY WLL |
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Registered Office : |
Building No. 80, Street
No. 12, Shuwaikh Industrial Area, P O Box 4121, Safat 13042 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
24.01.2005 |
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Com. Reg. No.: |
105226 |
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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: General Trading
Division Engaged in the import and distribution of fast moving consumer goods. Contracting
Division Engaged in the provision of electromechanical and heating, ventilation and air conditioning contractors Restaurant Division Engaged in the operation of coffee shops (NJAC) and
restaurants (Pizza Inn) |
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No of Employees : |
80 |
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) |
|
Kuwait |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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 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.
|
Source
: CIA |
Company Name : RAJA COMPANY WLL
Also Known As : RAJA COMPANY FOR RESTAURANTS AND CONSTRUCTION
MATERIALS WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 24th January 2005
Commercial Registration Number : 105226
Trade Licence Number : 5415/2005
Chamber Membership Number : 92598
Issued Capital : KD 250,000
Paid up Capital : KD 250,000
Total Workforce : 80
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Jaber Ali, Accounts Manager
RAJA COMPANY WLL
RAJA COMPANY FOR
RESTAURANTS AND CONSTRUCTION MATERIALS WLL
Registered &
Physical Address
Building : Building No. 80
Street :
Street No. 12
Area : Shuwaikh Industrial Area
PO Box : 4121
Town : Safat 13042
Country : Kuwait
Telephone : (965) 24844696 / 24844799 / 24844810
/ 24844699
Facsimile : (965) 24844798
Mobile : (965) 99333969 / 60031661
Email : info@rajatrading.com / finance2@rajatrading.com
Premises
Subject operates
from a medium sized suite of offices, a warehouse and a showroom that are
rented and located in the Industrial Area of Safat.
Name Nationality Position
·
Shalesh Merhandani Govin Kuwaiti Managing Director
·
Walid Abdullah Al Ayoubi Kuwaiti Director
·
Jaber
Ali - Accounts
Manager
·
Nour
Mohamed - Business
Development Manager
·
Balaji
Srinivasan - Operations
Manager
Date of Establishment : 24th
January 2005
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 105226
Trade Licence No. : 5415/2005
Chamber Member No. : 92598
Issued Capital : KD 250,000
Paid up Capital : KD 250,000
Name of
Shareholder (s)
·
Shalesh Merhandani Govin
·
Walid Abdullah Al Ayoubi
Activities: Subject’s operations are performed through
the following divisions:
·
General Trading Division
Engaged in the import and distribution of fast moving consumer goods.
·
Contracting Division
Engaged in the provision of
electromechanical and heating, ventilation and air conditioning contractors
·
Restaurant Division
Engaged in the operation of coffee shops
(NJAC) and restaurants (Pizza Inn)
Import
Countries: India, United
Kingdom, and the United States of America
Operating Trend: Steady
Subject has a
workforce of 80 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 2,180,000 KD 2,500,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Jaber Ali, Accounts Manager
·
National
Bank of Kuwait
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.59.21 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.80.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
MNL |
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 |
|
<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.