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Report Date : |
09.05.2014 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL STANDARD GROUP CO FOR GENERAL TRADING & CONTRACTING |
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Registered Office : |
Beirut Mall, Office No. 109 Beirut Street PO Box 4939 Hawalli 32080 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
22.01.2007 |
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Com. Reg. No.: |
108589 |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Engaged in the import, distribution and installation of marble,
granite and natural stone |
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No. of Employees : |
45 |
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) |
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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 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
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Source
: CIA |
Company Name : INTERNATIONAL STANDARD GROUP CO FOR GENERAL TRADING & CONTRACTING
Country of Origin : Kuwait
Legal Form : With Limited Liability – WLL
Start Date : 1977
Registration Date : 22nd January 2007
Commercial Registration Number : 108589
Chamber Membership Number : 105235
Issued Capital : KD 500,000
Paid up Capital : KD 500,000
Total Workforce : 45
Activities : Distribution and installation of marble, granite and natural stone
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
INTERNATIONAL STANDARD GROUP CO FOR GENERAL TRADING & CONTRACTING
Building : Beirut Mall,
Office No. 109
Street : Beirut
Street
PO Box : 4939
Town : Hawalli
32080
Country : Kuwait
Telephone : (965) 22242654
Facsimile : 3(965)
22622802
Email : info@isg-c.com
/ joher@hotmail.com
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Hawalli.
Name Position
· Essa Ahmed Mohamed
Abu Amerya Managing
Director
· Faisal Mashari
Jassi Al Anjari Director
· Raed Ghanem Financial
Manager
· Bassam Sharkawi Commercial
Manager
Date of
Establishment : 1977 however
subject was registered on 22nd January 2007
Legal Form : With Limited Liability
- WLL
Commercial Reg.
No. : 108589
Chamber Member No. : 105235
Issued Capital : KD 500,000
Paid up Capital : KD 500,000
· Essa Ahmed Mohamed
Abu Amerya
· Faisal Mashari
Jassi Al Anjari
Activities: Engaged in the import, distribution and installation of marble, granite
and natural stone.
Import Countries: Egypt, India and Brazil
Operating Trend: Steady
Subject has a workforce of 45 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
2,185,000 KD
2,300,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Commercial Bank of Kuwait SAK
Hawalli
Tel: (965)
22645964
No complaints regarding subject’s payments have been reported.
According to local sources, subject’s financial condition is
satisfactory whilst payments are made in a timely manner. The company’s
operating history is reportedly clear and the above credit figure is considered
to be within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.99 |
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|
1 |
Rs.101.75 |
|
Euro |
1 |
Rs.83.48 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIS |
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 |
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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 |
-- |
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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.