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Report Date : |
19.03.2014 |
|
|
|
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Tel. No.: |
965 24744470 |
|
Fax No.: |
965 24766124 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
Al Dabous Complex, 6th Floor, Habeb Munawer Street, Al
Farwaniyah, 714 Ardhiya 92400 |
|
|
|
|
Country : |
Kuwait |
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|
|
|
Financials (as on) : |
31.12.2013 |
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|
|
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Date of Incorporation : |
22.06.1997 |
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Com. Reg. No.: |
332411 |
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Legal Form : |
Sole Proprietorship |
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|
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Line of Business : |
Engaged in the import and distribution of electrical products. Subject
also acts as electrical contractors. |
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|
|
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No of Employees : |
18 |
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 |
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|
|
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 |
Company Name :
AL ALIA STARS FOR GENERAL TRADING & CONTRACTING EST
Country of Origin :
Kuwait
Legal Form :
Sole Proprietorship
Registration Date :
22nd June 1997
Commercial Registration Number :
332411
Trade Licence Number :
3149/2013
Chamber Membership Number :
53309
Invested Capital :
KD 80,000
Total Workforce :
18
Activities :
Distributors of electrical products
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
AL ALIA STARS FOR GENERAL TRADING & CONTRACTING EST
Building :
Al Dabous Complex, 6th Floor
Street : Habeb
Munawer Street
Area : Al
Farwaniyah
PO Box : 714
Town : Ardhiya 92400
Country : Kuwait
Telephone : (965) 24744470
/ 24344843
Facsimile : (965) 24766124
/ 24343731
Mobile : (965)
66325555
Email : alaliastar@yahoo.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Ardhiya.
Name Position
·
Fahed Salem Al Anzi Proprietor
& General Manager
·
Mohamed Attiya Sales
Manager
Date of
Establishment : 22nd
June 1997
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 332411
Trade Licence No. : 3149/2013
Chamber Member No. : 53309
Invested Capital : KD 80,000
Mr Fahed Salem Al Anzi is the sole proprietor of the business.
·
Angel
of Mercy Home Healthcare Co
Safat
Activities: Engaged in the import and distribution of electrical products. Subject
also acts as electrical contractors.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 18 employees.
Financial highlights provided by local sources are given below:
Currency: Kuwaiti Dinar (KD)
Year Ending 31/12/12: Year Ending 31/12/13:
Total Sales KD 1,790,000
KD 1,935,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Burgan Bank
PO Box: 5875
Safat 13054
Tel: (965)
22410818
Fax: (965)
22410819
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. 60.94 |
|
|
1 |
Rs. 101.37 |
|
Euro |
1 |
Rs. 84.89 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.