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Report Date : |
28.05.2014 |
IDENTIFICATION DETAILS
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Name : |
AL SAYER SOFT DRINKS FACTORY CO |
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Registered Office : |
Kuwait City, P O Box.485, Safat 13005 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
26.07.1983 |
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Com. Reg. No.: |
35627 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Subject is
engaged in the production of soft drinks and energy drinks. |
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No. of Employees : |
200 |
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 |
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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 |
|
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 : AL SAYER SOFT DRINKS FACTORY CO
Country of Origin : Kuwait
Legal Form : With
Limited Liability - WLL
Registration Date : 26th
July 1983
Commercial
Registration Number : 35627
Trade Licence
Number : 10356
Chamber Membership
Number : 14004
Issued Capital : KD
3,000,000
Paid up Capital : KD
3,000,000
Total Workforce : 200
Activities :
Production of soft drinks and energy drinks
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Tariq Saleem,
Finance Manager
AL SAYER SOFT DRINKS
FACTORY CO
Location : Kuwait City
PO Box : 485
Town : Safat 13005
Country : Kuwait
Telephone : (965) 24747139 / 24747138
Facsimile : (965) 24716385 / 24848610
Email : asdf@alsayer.org
Please note that
subject’s previous address was, Sabhan Industrial Area No. 1, Plot No. 123,
Safat.
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Safat.
Name Position
·
Mohamed Nasser Mohamed Al Sayer Managing
Director
·
Nasser
Mohamed Nasser Al Sayer Director
·
Tariq
Saleem Finance
Manager
·
Haytham
Abbass Purchasing
Manager
·
Ahmed
Al Haji Production
Manager
·
Nasser
Al Otaibi Human
Resources Manager
Date of Establishment : 26th
July 1983
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 35627
Trade Licence No. : 10356
Chamber Member No. : 14004
Issued Capital : KD 3,000,000
Paid up Capital : KD 3,000,000
·
Mohamed Nasser Mohamed Al Sayer 50%
·
Nasser
Mohamed Nasser Al Sayer 50%
·
Al
Sayer Engineering Co
Safat
·
Mohamed
Nasser Al Sayer & Sons
Safat
·
Bahra
Trading Company
Safat
·
Al
Sayer Rent-A-Car
Safat
·
Kuwait
Animal Feed Factory
Safat
·
United
Marketing Company
Safat
·
Al
Sayer Insurance Brokerage
Safat
·
Credit
One
Safat
·
Al
Sayer International
Safat
·
Dhow
Information Systems
Safat
·
Tri Star
Safat
·
Al
Sayer Engineering
Safat
Activities: Engaged
in the production of soft drinks and energy drinks.
Import
Countries: United States of America, China and
India
Brand Names: R
C COLA & MAGIC
Operating Trend: Steady
Subject has a
workforce of approximately 200 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 4,520,000 KD 4,800,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Tariq Saleem, Finance Manager
·
Bank of
Kuwait & the Middle East KSC
Abdullah Al Salem Street
Darwaza Abdul Razzak
PO Box: 71
Safat 13001
Tel: (965) 22459771
Fax: (965) 22461430
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.59.06 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.80.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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.