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Report Date : |
03.09.2014 |
IDENTIFICATION DETAILS
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Name : |
UNIVERSAL NATIONAL FOR GENERAL TRADING & CONTRACTING |
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Registered Office : |
12 Bassam Complex 3, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
05.05.2011 |
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Com. Reg. No.: |
337247 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged in the import and distribution of gift items and
novelty products. |
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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 01, 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 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 |
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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 : UNIVERSAL NATIONAL FOR GENERAL
TRADING & CONTRACTING
Country of Origin :
Kuwait
Legal Form :
Sole Proprietorship
Registration Date :
5th May 2011
Commercial Registration Number :
337247
Chamber Membership Number :
127863
Invested Capital :
KD 60,000
Total Workforce :
7
Activities :
Distributors gift items and novelty products
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Saleh Faisal Khalifa Al Shaye, Proprietor & General Manager
UNIVERSAL NATIONAL FOR GENERAL TRADING & CONTRACTING
Registered &
Physical Address
Building : 12 Bassam
Complex 3
Street : Bin Khaldoun
Street
Area : Hawalli
Town : Safat
Country : Kuwait
Telephone : (965) 22621549
Facsimile : (965) 22621549
Mobile : (965)
99789099
Email : ss@usckw.com
Premises
Subject operates from a small suite of offices and a showroom that are rented
and located in the Central Business Area of Safat.
Name Position
Saleh Faisal Khalifa Al Shaye Proprietor
& General Manager
Adel Dhahi Al Ojail Al Ashar Sales
Manager
Date of Establishment : 5th
May 2011
Legal Form :
Sole
Proprietorship
Commercial Reg. No. : 337247
Chamber Member No. : 127863
Invested Capital : KD 60,000
Mr Saleh Faisal Khalifa Al Shaye is the sole proprietor of the business.
Activities: Engaged in the import and distribution of gift items and novelty
products.
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 Dinar (KD)
Year Ending 31/12/12: Year Ending 31/12/13:
Total Sales KD
625,000 KD
680,000
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.
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.61 |
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|
1 |
Rs.100.49 |
|
Euro |
1 |
Rs.79.56 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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 |
-- |
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.