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Report Date : |
02.10.2014 |
IDENTIFICATION DETAILS
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Name : |
AL AHLIYA GROUP CO WLL FOR FOODSTUFF & CONSUMER PRODUCTS |
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Registered Office : |
Ardiya Industrial
Area, Area 3, Block 154, 2280 Safat
13028 |
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Country : |
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Date of Incorporation : |
22.04.1996 |
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Com. Reg. No.: |
99646 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Engaged in the
import and distribution of general foodstuff products, including rice,
spices, edible oils, beverages, sauces and vegetables. |
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No. of Employees : |
170 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 - 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 AHLIYA GROUP CO WLL FOR FOODSTUFF & CONSUMER
PRODUCTS
Country of Origin : Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date : 22nd
April 1996
Commercial
Registration Number : 99646
Trade Licence
Number :
1021/2004
Chamber Membership
Number : 49458
Issued Capital : KD
500,000
Paid up Capital : KD
500,000
Total Workforce : 170
Activities :
Distributors of general foodstuffs.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Manoj Johnson Mathew, Sales Manager
AL AHLIYA GROUP CO
WLL FOR FOODSTUFF & CONSUMER PRODUCTS
Location : Ardiya Industrial Area, Area 3, Block 154
PO Box : 2280
Town : Safat 13028
Country : Kuwait
Telephone : (965) 24827064 / 24915017 / 24915018
/ 24827064 / 24335120 / 24340261 / 24340262
Facsimile : (965) 24813255 / 24336732
Mobile : (965) 99515936 / 66537165
Email : ahlia@qualitynet.com / ahliagroup@hotmail.com / info@ahliafood.com
Subject operates
from a large suite of offices and a warehouse that are rented and located in
the Industrial Area of Safat.
Branch Office
(s)
Location Description
·
Shuwaikh
Industrial Area, Plot No. 3 Showroom
premises
Tel: (965) 67064041
Name Position
·
Mohamed
Khalid Nasser Al Noon Managing
Director
·
Khalid
Nasser Falah Al Noon Director
·
Ali
Mohamed Harba General
Manager
·
Mohamed
Salaheddine Finance
Manager
·
Manoj Johnson Mathew Sales
Manager
Date of Establishment : 22nd
April 1996
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 99646
Trade Licence No. :
1021/2004
Chamber Member No. : 49458
Issued Capital : KD 500,000
Paid up Capital : KD 500,000
·
Mohamed
Khalid Nasser Al Noon
·
Khalid
Nasser Falah Al Noon
·
Al
Ahliya Group Co for Plumbing & Sanitary
Safat
Activities: Engaged in the import and distribution of
general foodstuff products, including rice, spices, edible oils,
beverages, sauces and
vegetables.
Import
Countries: Spain, Italy, Turkey,
Sri Lanka, India, Pakistan, United Arab Emirates and the United States of
America.
International Suppliers:
·
Ashok Oil Mill India
·
Everest Group India
·
Jbes International India
·
ACE Brand Edible Oils India
·
Faisal Karim Rice Mill Pakistan
·
Two Girls United
States of America
·
Selva Turkey
·
Renuka Sri
Lanka
·
Corcel Spain
·
Omega Italy
·
Vivita United
Arab Emirates
Subject has a
workforce of approximately 170 employees.
Companies
registered in Kuwait are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
·
Al Ahli
Bank of
PO Box: 1387
Safat 13014
Tel: (965) 22411101 / 22411102
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.61.75 |
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|
1 |
Rs.100.06 |
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Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
PDT |
RATING EXPLANATIONS
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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.