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Report Date : |
16.10.2014 |
IDENTIFICATION DETAILS
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Name : |
BADER ALBAHAR GENERAL TRADING & CONTRACTING CO WLL |
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Registered Office : |
Building No. 3430,
Office No. 10, Mezzanine Floor, Street No. 28, Plot No. 8, Fahaheel |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
12.06.2008 |
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Com. Reg. No.: |
327499 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Distributors of
marble, stone, granite and construction materials |
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No. of Employees : |
7 |
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) |
|
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 : BADER
ALBAHAR GENERAL TRADING & CONTRACTING CO WLL
Country of Origin : Kuwait
Legal Form : With
Limited Liability - WLL
Registration Date : 12th
June 2008
Commercial
Registration Number : 327499
Chamber Membership
Number : 115306
Issued Capital : KD
250,000
Paid up Capital : KD
250,000
Total Workforce :
7
Activities :
Distributors of marble, stone, granite and construction materials
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Bader Awad
Mohamed Al Anzi, Managing Director
BADER ALBAHAR GENERAL
TRADING & CONTRACTING CO WLL
Building : Building No. 3430,
Office No. 10, Mezzanine Floor
Street : Street No. 28
Area : Plot No. 8
Town : Fahaheel
Country : Kuwait
Telephone : (965) 223914494
Facsimile : (965) 223914494
Mobile : (965) 99666556 / 51013202
Email : baderq8112@hotmail.com
Please note that
subject’s previous address was, Elfinihil Building 20, Office No. 10, Shuwaikh.
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Fahaheel.
Name Position
·
Bader
Awad Mohamed Al Anzi Managing
Director
·
Haya
Meherdaz Al Harshani Director
·
Yousef
Oqla Administration
Manager
Date of Establishment : 12th
June 2008
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 327499
Chamber Member No. : 115306
Issued Capital : KD 250,000
Paid up Capital : KD 250,000
·
Bader
Awad Mohamed Al Anzi
·
Haya
Meherdaz Al Harshani
Activities: Engaged in the import and distribution of
marble, stone, granite and construction materials.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 7 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 1,200,000 KD 1,295,000
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
Mubarak Al Kabir Street
PO Box: 2861
Safat 13029
Tel: (965) 22411001
Fax: (965) 22450150
No complaints
regarding subject’s payments have been reported.
According to local
sources, subject enjoys a good reputation for the quality of its products with
nothing detrimental uncovered regarding the manner in which operations are
conducted. As such the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.10 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.68 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.