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Report Date : |
22.05.2014 |
IDENTIFICATION DETAILS
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Name : |
CAPTAIN FISHERIES FOODSTUFF CO LLC |
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Registered Office : |
Mohamed Ali Dakhan Building, 5th Floor, Office No. 18, Omar Ibn Khattab Street, Street No. 30, Al Sharq Area, 22448 & 25323
Safat 13114 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
07.08.2011 |
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Com. Reg. No.: |
114356, Safat |
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Legal Form : |
With Limited
Liability - WLL |
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Line of Business : |
Engaged in the
import and distribution of fish and meat. |
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No. of Employees |
15 |
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) |
|
Kuwait |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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 : CAPTAIN FISHERIES FOODSTUFF CO LLC
Country of Origin : Kuwait
Legal Form : With
Limited Liability - WLL
Registration Date : 7th
August 2011
Commercial
Registration Number : 114356,
Safat
Chamber Membership
Number : 129167
Issued Capital : KD
20,000
Paid up Capital : KD
20,000
Total Workforce : 15
Activities :
Distributors of fish and meat
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Sree Kumar,
Sales Manager
CAPTAIN FISHERIES
FOODSTUFF CO LLC
Building :
Mohamed Ali Dakhan Building, 5th
Floor, Office No. 18
Street : Omar Ibn Khattab Street, Street
No. 30
Area : Al Sharq Area
PO Box : 22448 & 25323
Town : Safat 13114
Country : Kuwait
Telephone : (965) 22411630 / 22430183 / 22430186
Facsimile : (965) 22470296
Mobile :
(965) 99645297 / 67011187 / 67011179
Email : cff2kwt@gmail.com / sales@canfisherkw.com / msb@capnfisherkw.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Safat.
Name Position
·
Ali
Mohamed Ali Al Dakhan Managing
Director
·
Saud
Ali Mohamed Ali Al Dakhan Director
·
Mohamed
Ali Mohamed Ali Al Dakhan Director
·
Yousef
Ali Mohamed Ali Al Dakhan Director
·
Limya
Ali Mohamed Ali Al Dakhan Director
·
Mohan
Daz General
Manager
·
Sree
Kumar Sales
Manager
·
M S Bopanna Commercial
Manager
·
Bena B
George Financial
Controller
Date of Establishment : 7th
August 2011
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 114356, Safat
Chamber Member No. : 129167
Issued Capital : KD 20,000
Paid up Capital : KD 20,000
·
Ali
Mohamed Ali Al Dakhan
·
Saud
Ali Mohamed Ali Al Dakhan
·
Mohamed
Ali Mohamed Ali Al Dakhan
·
Yousef
Ali Mohamed Ali Al Dakhan
·
Limya
Ali Mohamed Ali Al Dakhan
Activities: Engaged in the import and distribution of
fish and meat.
Import
Countries: India, Vietnam, Australia
and the United Arab Emirates
International Suppliers:
·
Jagdish
Marine Pvt Ltd India
·
Four
Star Frozen Pvt Ltd India
·
Soha
Frozen Foods Ltd Vietnam
·
Allegro
Meat Ltd Australia
·
Trans
Ocean Seafood United
Arab Emirates
Operating Trend: Steady
Subject has a
workforce of 15 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 750,000 KD 900,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Sree Kumar, Sales Manager
·
Kuwait
Finance House (KFH)
Safat Square
Abdullah Al Mubarak Street
PO Box: 24989
Safat 13110
Tel: (965) 22445050
Fax: (965) 22455135
·
Gulf
Bank KSC
Mubarak Al Kabir Street
PO Box: 3200
Safat 13033
Tel: (965) 22449501
Fax: (965) 22445212
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.58.77 |
|
|
1 |
Rs.99.01 |
|
Euro |
1 |
Rs.80.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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 |
|
|
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.