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Report No. : |
314945 |
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Report Date : |
02.04.2015 |
IDENTIFICATION DETAILS
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Name : |
AL BANDERIA GENERAL TRADING AND CONTRACTING EST |
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Registered Office : |
Al Sama Complex, Office No. 28, Ibn
Khaldoun Street, PO Box 33224, Al Rawdah 73453 |
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Country : |
Kuwait |
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Date of Incorporation : |
11.08.2001 |
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Com. Reg. No.: |
84410 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import and distribution of scrap metals. |
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No. of Employees : |
12 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Kuwait |
A2 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 BANDERIA GENERAL TRADING AND CONTRACTING EST
Country of Origin :
Kuwait
Legal Form :
Sole Proprietorship
Registration Date :
11th August 2001
Commercial Registration Number :
84410
Trade Licence Number :
1500/2001
Chamber Membership Number :
72262
Invested Capital :
KD 50,000
Total Workforce :
12
Activities :
Distributors of scrap metals
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Kishore Sindhu, Commercial Manager
AL BANDERIA GENERAL TRADING AND CONTRACTING EST
Registered & Physical
Address
Building : Al Sama Complex, Office No. 28
Street : Ibn Khaldoun Street
PO Box : 33224
Town : Al Rawdah
73453
Country : Kuwait
Telephone : (965) 25617807
/ 22656504 / 22654505
Facsimile : (965) 25617807
Mobile : (965)
97373844 / 97373544 / 66832569
Please note that the correct PO Box number is 33224 and not 33227.
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Al Rawdah.
Name Position
Khaled Mohamed Khalid Al Faraj Proprietor
& General Manager
Moaz Khalid Mohamed Khalid Al Faraj Assistant
General Manager
Kishore Sindhu Commercial
Manager
Harish Pathak Darooj Sales
Manager
Date of Establishment : 11th
August 2001
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 84410
Trade Licence No. : 1500/2001
Chamber Member No. : 72262
Invested Capital : KD 50,000
Mr Khaled Mohamed Khalid Al Faraj is the sole proprietor of the
business.
Activities: Engaged in the import and distribution of scrap metals.
Import Countries: Europe and the Far East.
Subject has a workforce of 12 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.
National Bank of Kuwait
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.
Please note that the correct name of the subject is “Al Banderia General
Trading And Contracting Est” and not “Al Banderiyah General Trading & Contracting
And Cont Est”.
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.62.59 |
|
|
1 |
Rs.92.45 |
|
Euro |
1 |
Rs.67.51 |
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 |
-- |
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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.