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Report Date : |
04.03.2014 |
IDENTIFICATION DETAILS
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Name : |
BAHRAH TRADING CO WLL |
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Registered Office : |
Building No. 195/196, Plot No. 1 Street No. 22 Al Rai Industrial Area
PO Box 5869 & 485 Safat 13511 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
27.09.1965 |
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Com. Reg. No.: |
13511, Safat |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Subject is engaged in the import and distribution of oilfield
equipment, heavy machinery, industrial supplies and auto spare parts. Subject
also offers repair and maintenance services. |
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No. of Employees : |
300 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
KUWAIT - ECONOMIC OVERVIEW
Kuwait has a geographically small, but wealthy, relatively open economy with crude oil reserves of about 102 billion barrels - about 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. Stagnant global oil prices throughout 2013 has slowed economic growth. Budget surpluses have stayed around 30% of GDP, which has led to higher budget expenditures, particularly wage hikes for many public sector employees. 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
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Source
: CIA |
Company Name : BAHRAH TRADING CO WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 27th September 1965
Commercial Registration Number : 13511, Safat
Trade Licence Number : 688/84
Chamber Membership Number : 2550
Issued Capital : KD 1,500,000
Paid up Capital : KD 1,500,000
Total Workforce : 300
Activities : Import and distribution of oilfield equipment, heavy machinery, industrial
supplies and auto spare parts.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : T T Medha, Finance Manager
BAHRAH TRADING CO WLL
Building :
Building No. 195/196, Plot No. 1
Street : Street No.
22
Area : Al Rai Industrial Area
PO Box : 5869 & 485
Town : Safat 13511
Country : Kuwait
Telephone : (965) 24761061 / 24730292 /
1803803 / 1802008
Facsimile : (965) 24742341
Mobile : (965) 99805718
Email : btc@alsayergroup.com / taher@alsayer.org
Subject operates from a large suite of offices and a warehouse that are rented
and located in the Industrial Area of Safat.
Branch Office (s)
Location Description
· Ardiyah Sales
office & workshop
Tel: (965)
24310721
Fax: (965) 4310721
· Ahmadi Sales
office & workshop
Tel: (965)
23980681
Fax: (965) 23989407
Name Position
· Faisal Bader Al Sayer Managing
Director
· Mohamed Nasser Al Sayer Director
· Mubarak Nasser Al Sayer Director
·
Musaed
Bader Al Sayer Director
·
Nasser
Mubarak Al Sayer Director
·
Sayer
Bader Al Sayer Director
· Steve Shaw General
Manager
· T T Medha Finance
Manager
· Hamza Melakandy Sales
Manager
Date of
Establishment : 27th
September 1965
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 13511, Safat
Trade Licence No. : 688/84
Chamber Member No. : 2550
Issued Capital : KD 1,500,000
Paid up Capital : KD 1,500,000
· Faisal Bader Al Sayer
· Mohamed Nasser Al Sayer
· Mubarak Nasser Al Sayer
·
Musaed
Bader Al Sayer
·
Nasser
Mubarak Al Sayer
·
Sayer
Bader Al Sayer
· United Marketing
Co
Safat
· Daewoo Computers
Co
Safat
Activities: Engaged in the import and distribution of oilfield equipment, heavy machinery,
industrial supplies and auto spare parts. Subject also offers repair and
maintenance services.
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Subject’s products include, heavy equipment for the construction
industry, excavators, loaders, cranes, fork
lift trucks, generators, compressors and air plasma cutters. |
Import Countries: Europe, the Far East and GCC countries
International Suppliers:
· Tafe India
· Proton Malaysia
· Toyota Japan
· Westac United Kingdom
· Ingersollrand United Kingdom
Operating Trend: Steady
Subject has a workforce of approximately 300 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
9,230,000 KD
10,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr T T Medha, Finance Manager
·
Commercial Bank of Kuwait SAK
Mubarak
Al Kabir Street
PO Box:
2861
Safat
13029
Tel:
(965) 22411001
Fax:
(965) 22450150
No complaints regarding subject’s payments have been reported.
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
Established in 1965, subject is involved in the import and distribution
of oilfield equipment, heavy machinery and industrial supplies.
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 |
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US Dollar |
1 |
Rs.61.86 |
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|
1 |
Rs.103.52 |
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Euro |
1 |
Rs.85.31 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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 |
-- |
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.