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Report Date : |
10.09.2014 |
IDENTIFICATION DETAILS
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Name : |
EID AL KUWAIT GENERAL TRADING & CONTRACTING |
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Registered Office : |
3rd Floor, Office No. 5, Block No. 2, Fahaheel, 1760 Mishref 40168 |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
07.05.2000 |
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Com. Reg. No.: |
62818 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
import and distribution of stationery products, school equipment, books and
pens. |
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No. of Employees : |
6 |
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) |
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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 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
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Source
: CIA |
Company Name : EID AL KUWAIT GENERAL TRADING
& CONTRACTING
Country of Origin : Kuwait
Legal Form :
Sole Proprietorship
Registration Date : 7th
May 2000
Commercial
Registration Number : 62818
Chamber Membership
Number : 118016
Invested Capital : KD 40,000
Total Workforce : 6
Activities :
Distributors of stationery products, school equipment, books and pens
Financial Condition : Fair
Payments : Nothing
detrimental uncovered
Operating Trend : Steady
EID AL KUWAIT
GENERAL TRADING & CONTRACTING
Building : 3rd Floor, Office No.
5, Block No. 2
Area : Fahaheel
PO Box : 1760
Town : Mishref 40168
Country : Kuwait
Mobile : (965) 99691234 / 99691231
Email : eidalkuwait@gmail.com
Subject operates
from a small suite of offices that are rented and located in the Central Business
Area of Mishref.
Name Position
·
Ms
Taybah Ali Mohamed Al Naqais Proprietor
·
Hashim
Ibrahim Khalil Al Refai General
Manager
·
Sadiq
Mostafa Sales
Manager
Date of Establishment : 7th
May 2000
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 62818
Chamber Member No. : 118016
Invested Capital
: KD 40,000
Ms Taybah Ali
Mohamed Al Naqais is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
stationery products, school equipment, books and pens.
Import
Countries: India
International
Suppliers:
·
Sky
Plastic India
·
Claro
Ball Pens India
Operating Trend: Steady
Subject has a
workforce of 6 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 850,000 KD 930,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Bank of Kuwait SAK
Ali Awadi Tower
Ahmed Al Jaber Street
PO Box: 95
Safat 13001
Tel: (965) 23981188 / 23981189
Fax: (965) 23985643
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.42 |
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|
1 |
Rs.97.24 |
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Euro |
1 |
Rs.77.92 |
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.