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Report Date : |
25.06.2014 |
IDENTIFICATION DETAILS
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Name : |
KUWAIT FERRO ALLOYS GENERAL TRADING AND CONTRACTING COMPANY WLL |
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Registered Office : |
Plot 95, Block 6,
Shuaiba Industrial Area, P O Box 47218 & 46746, Fahaheel 6023 |
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Country : |
Kuwait |
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Date of Incorporation : |
19.03.2002 |
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Com. Reg. No.: |
84705 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
manufacturer of
Ferro Silicon Products |
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No of Employees : |
180 |
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
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 |
|
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 : KUWAIT FERRO ALLOYS GENERAL TRADING AND CONTRACTING
COMPANY WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 19th March 2002
Commercial Registration Number : 84705
Trade Licence Number : 931/2001
Chamber Membership Number : 76279
Issued Capital : KD 1,600,000
Paid up Capital : KD 1,600,000
Total Workforce : 180
Activities : Manufactures of ferro silicon products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Attiya Reda, Human Resources Officer
KUWAIT FERRO ALLOYS GENERAL TRADING AND
CONTRACTING COMPANY WLL
Registered &
Physical Address
Building : Plot 95, Block 6
Area : Shuaiba Industrial Area
PO Box : 47218 & 46746
Town : Fahaheel 6023
Country : Kuwait
Telephone : (965) 23260268 / 23260269 / 23260267
Facsimile : (965) 23260269 / 23260214
Mobile : (965) 66174024 /
97475036 / 966488060
Email : info@kuwaitfa.com
Premises
Subject operates from
a large suite of offices and a factory that are rented and located in the
Industrial Area of Fahaheel.
Name Position
·
Ahmed
Hussain Ali Al Kharafi Chairman
·
Hussain
Ali Hussain Al Kharafi Chief
Executive Officer
·
Anas
Fahad Ahmed Al Bahr Vice
President
·
Saleh
Saadi Financial
Manager
·
Ali Al
Sissi Human
Resources Manager
·
Attiya
Reda Human
Resources Officer
Date of Establishment : 19th
March 2002
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 84705
Trade
Licence No. : 931/2001
Chamber Member No. : 76279
Issued Capital : KD 1,600,000
Paid up Capital : KD 1,600,000
Name of Shareholder
(s)
·
Al
Adanah Holding Co.
Safat
·
Ahmed
Hussain Ali Al Kharafi
·
Latifa
Hussain Ali Al Kharafi
·
Al Oula
Steel Co
Safat
Activities: Engaged in the manufacture of ferro silicon
products.
Subject has a
workforce of 180 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.
·
National
Bank of Kuwait SAK
Fahaheel
Tel: (965) 33911447
Fax: (965) 33924447
No complaints
regarding subject’s payments have been reported.
According to local
sources, subject meets its payment obligations in a timely manner and the
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.11 |
|
|
1 |
Rs.102.32 |
|
Euro |
1 |
Rs.81.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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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 |
|
-- |
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.