MIRA INFORM REPORT

 

 

Report Date :

04.03.2014

 

IDENTIFICATION DETAILS

 

Name :

NAIF FRESH DAIRY CO WLL

 

 

Registered Office :

Al Naif Poultry Building, Canada Dry Street, Shuwaikh Industrial Area, PO Box : 3717, Safat 13038

 

 

Country :

Kuwait

 

 

Date of Incorporation :

24.05.1974

 

 

Com. Reg. No.:

491

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Subject is engaged as operators of farms and producers of dairy products.

 

 

No. of Employees :

75

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

 

Status :

Satisfactory

Payment Behaviour :

No complaints

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)

Kuwait

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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.

 

Source : CIA

 

 

 

 

SUMMARY

 

Company Name                                    : NAIF FRESH DAIRY CO WLL

Country of Origin                                   : Kuwait

Legal Form                                           : With Limited Liability - WLL

Registration Date                                  : 24th May 1974

Commercial Registration Number           : 491

Trade Licence Number                           : 434/73

Chamber Membership Number               : 224

Issued Capital                                       : KD 60,000

Paid up Capital                                     : KD 60,000

Total Workforce                         : 75

Activities                                               : Operators of farms and producers of dairy products

Financial Condition                                : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

 

COMPANY NAME

 

NAIF FRESH DAIRY CO WLL

 

 

ADDRESS

 

Registered & Physical Address

 

Building                        : Al Naif Poultry Building

Street               : Canada Dry Street

Area                 : Shuwaikh Industrial Area

PO Box            : 3717

Town                : Safat 13038

Country : Kuwait

 

Telephone         : (965) 24834999 / 24837753

Facsimile          : (965) 24849380

Email                : naifpoul@naif-poultry.com

 

Premises

 

Subject operates from a medium sized suite of offices that are rented and located in the Central Business Area of Safat.

 

 

KEY PRINCIPALS

 

Name                                                                                                   Position

 

Abdulaziz Ahmed Buzaie Al Yaseen                                                        Managing Director

 

Saad Ahmed Buzaie Al Yaseen                                                              Director

 

Shaa Ahmed Buzaie Al Yaseen                                                              Director

 

Amer Ahmed Buzaie Al Yaseen                                                              Director

 

Abdullah Ahmed Buzaie Al Yaseen                                                         Director

 

Abdullah Ahmed Buzaie Al Yaseen                                                         Director

 

Mohamed Ahmed Buzaie Al Yaseen                                                       Director

 

Mussab Ahmed Buzaie Al Yaseen                                                          Director

 

Asma Ahmed Buzaie Al Yaseen                                                             Director

 

Iqbal Ahmed Buzaie Al Yaseen                                                               Director

 

Tamador Ahmed Buzaie Al Yaseen                                                         Director

 

Afra Ahmed Buzaie Al Yaseen                                                                Director

 

Fayza Ahmed Buzaie Al Yaseen                                                             Director

 

Nasibah Ahmed Buzaie Al Yaseen                                                          Director

 

Aysha Sulaiman Ibrahim Al Mussalam                                                     Director

 

Mishal Bader Buzaie Al Yaseen                                                              General Manager

 

Dr Omar Asaad                                                                                     Operations Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  :           24th May 1974

 

Legal Form      :                       With Limited Liability - WLL

 

Commercial Reg. No.   :           491

 

Trade Licence No.        :           434/73

 

Chamber Member No.  :           224

 

Issued Capital              :           KD 60,000

 

Paid up Capital            :           KD 60,000

 

Name of Shareholder (s)

 

Abdulaziz Ahmed Buzaie Al Yaseen

 

Saad Ahmed Buzaie Al Yaseen

 

Shaa Ahmed Buzaie Al Yaseen

 

Amer Ahmed Buzaie Al Yaseen

 

Abdullah Ahmed Buzaie Al Yaseen

 

Abdullah Ahmed Buzaie Al Yaseen

 

Mohamed Ahmed Buzaie Al Yaseen

 

Mussab Ahmed Buzaie Al Yaseen

 

Asma Ahmed Buzaie Al Yaseen

 

Iqbal Ahmed Buzaie Al Yaseen

 

Tamador Ahmed Buzaie Al Yaseen

 

Afra Ahmed Buzaie Al Yaseen

 

Fayza Ahmed Buzaie Al Yaseen

 

Nasibah Ahmed Buzaie Al Yaseen

 

Aysha Sulaiman Ibrahim Al Mussalam

 

 

AFFILIATED COMPANIES

 

Kuwait Agricultural Investment Co WLL

Canada Dry Street

Shuwaikh Industrial Area

PO Box: 3717

Safat 13038

Tel: (965) 24834998 / 24834999

Fax: (965) 24849380

Email : naifpoul@qualitynet.net

 

Agricultural Supplies & Foodstuff Co

PO Box: 42335

Shuwaikh Industrial Area

Safat

Tel: (965) 24834998

Fax: (965) 24849380

 

Naif Nursery Co

PO Box: 3717

Shuwaikh Industrial Area

Safat

Tel: (965) 24834998

Fax: (965) 24849380

 

Naif Poultry Co WLL

PO Box: 3717

Safat 13038

Tel: (965) 24834998 / 24834999

Fax: (965) 24849380

Naif Food Co

PO Box: 3717

Safat 13038

Tel: (965) 22466371

Fax: (965) 22412761

 

Bu Ali Poultry Co

PO Box: 3717

Safat 13038

Tel: (965) 24834999

Fax: (965) 24849380

 

Waterfront Restaurant Co

PO Box: 3717

Safat 13038

Tel: (965) 22419922

Fax: (965) 22460935

 

Al Afia Poultry Co

PO Box: 3717

Safat 13038

Tel: (965) 24834998

Fax: (965) 24849380

 

Shamsan General Trading Co

PO Box: 3717

Safat 13038

Tel: (965) 22466370

Fax: (965) 22469838

 

 

OPERATIONS

 

Activities:                     Engaged as operators of farms and producers of dairy products.

 

Import Countries:         Europe and the Far East.

 

Subject has a workforce of 75 employees.

 

 

FINANCIAL DATA

 

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.

 

 

BANKERS

 

National Bank of Kuwait SAK

Ali Awadi Tower

Ahmed Al Jaber Street

PO Box: 95

Safat 13001

Tel: (965) 23981188 / 23981189

Fax: (965) 23985643

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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.61.86

UK Pound

1

Rs.103.52

Euro

1

Rs.85.31

 

 

INFORMATION DETAILS

 

Report Prepared by :

NNA

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.