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Report Date : |
16.05.2014 |
IDENTIFICATION DETAILS
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Name : |
KUWAIT PAINT COMPANY KSC (KPC) |
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Registered Office : |
Canada Dry
Street, Shuwaikh Industrial Area No. 2, Plot No 46 / 48 / 49, 42255, Shuwaikh 70653 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
05.08.1978 |
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Com. Reg. No.: |
27073 |
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Legal Form : |
Kuwaiti Shareholding
Company Closed - KSCC |
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Line of Business : |
Engaged in the
manufacture of paint and emulsions, including heavy duty marine and
protective coatings, building paints, and industrial coatings. |
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No. of Employees |
70 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
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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 |
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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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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately 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
|
Source
: CIA |
Company Name : KUWAIT
PAINT COMPANY KSC (KPC)
Country of Origin : Kuwait
Legal Form :
Kuwaiti Shareholding Company Closed - KSCC
Registration Date : 5th
August 1978
Commercial Registration
Number : 27073
Trade Licence
Number : 149/80
Chamber Membership
Number : 7315
Issued Capital : KD
720,000
Paid up Capital : KD
720,000
Total Workforce : 70
Activities :
Manufacture of paint and emulsions.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
KUWAIT PAINT
COMPANY KSC (KPC)
Street : Canada Dry Street
Area : Shuwaikh
Industrial Area No. 2, Plot No 46 / 48 / 49
PO Box : 42255
Town : Shuwaikh 70653
Country : Kuwait
Telephone : (965) 24832644 / 24832557 / 24832698
Facsimile : (965) 24843971
Email : marykpc@kems.net / kpc@babtain.com.kw
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Shuwaikh.
Name Position
·
Khaled
Abdulmohsin Al Babtain Managing
Director
·
Saleh
Abdulmohsin Al Babtain Director
·
Naser
Abdulmohsin Al Babtain Director
·
Barrak Abdulmohsin Al Babtain Director
·
Amer Muqayed General
Manager
·
Essam Bhanasi Production
Manager
·
Farooq Sayed Finance
Manager
Date of Establishment : 5th
August 1978
Legal Form :
Kuwaiti Shareholding
Company Closed - KSCC
Commercial Reg. No. : 27073
Trade Licence No. : 149/80
Chamber Member No. : 7315
Issued Capital : KD 720,000
Paid up Capital : KD 720,000
·
Khaled
Abdulmohsin Al Babtain
·
Saleh
Abdulmohsin Al Babtain
·
Naser
Abdulmohsin Al Babtain
·
Barrak Abdulmohsin Al Babtain
·
Al Babtain Group Holding KSCC
PO Box: 766
Safat 13008
Tel: (965) 24757693
Fax: (965) 24769584
·
Al
Babtain Group International General Trading Co WLL
PO Box: 766
Safat 13008
Tel: (965) 24719055
Fax: (965) 24713359
·
Abdulmohsin
Abdulaziz Al Babtain Co
Safat
·
National
Computer Services
·
Al
Babtain Finance Company
·
Al Ahlia
Plastics Company
·
Abdulmohsen
Abdulaziz Al Babtain Co
·
Gulf
Express
·
Al
Babtain Body Manufacturing Co
Activities: Engaged in the manufacture of paint and
emulsions, including heavy duty marine and protective coatings, building paints,
and industrial coatings.
Import
Countries: Belgium and the
United Kingdom
Operating Trend: Steady
Subject has a
workforce of 70 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 5,850,000 KD 6,200,000
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
Mubarak Al Kabir Street
PO Box: 2861
Safat 13029
Tel: (965) 22411001
Fax: (965) 22450150
·
National
Bank of Kuwait SAK
Ali Awadi Tower
Ahmed Al Jaber Street
PO Box: 95
Safat 13001
Tel: (965) 23981188 / 23981189
Fax: (965) 23985643
No complaints
regarding subject’s payments have been reported.
Credit amount 40,000
Amount overdue 0
Payment terms 90
days
Payment Method Letters
of Credit
Paying record No Complaints
Currency Euros
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.59.47 |
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|
1 |
Rs.99.70 |
|
Euro |
1 |
Rs.81.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
PDT |
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.