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Report No. : |
315002 |
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Report Date : |
03.04.2015 |
IDENTIFICATION DETAILS
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Name : |
AL TAJER GENERAL TRADING AND CONTRACTING CO WLL |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
04.08.1979 |
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Com. Reg. No.: |
28336 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Engaged in the wholesale and retail of automotive spare parts and
accessories. |
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No. of Employees : |
30 |
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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Kuwait |
A2 |
A1 |
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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.
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Source
: CIA |
Company Name :
AL TAJER GENERAL TRADING AND CONTRACTING CO WLL
Country of Origin :
Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date :
4th August 1979
Commercial Registration Number :
28336
Trade Licence Number : 3099/79
Chamber Membership Number :
8497
Issued Capital :
KD 100,000
Paid up Capital :
KD 100,000
Total Workforce :
30
Activities :
Wholesale and retail of automotive spare parts and accessories.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Ahmed Othman Al Tuwajiri, Managing Director
AL TAJER GENERAL TRADING AND CONTRACTING CO WLL
Registered &
Physical Address
Street : Canada Dry
Street
Area : Shuwaikh Industrial Area
PO Box : 13345
Town : Kaifan 71954
Country :
Telephone : (965) 24835372
/ 22425820 / 24814221 / 24812915 / 24835834
Facsimile : (965) 24814221
/ 24833138
Mobile : (965)
99772539
Email : tajer_kw@yahoo.com
/ sb@qualitynet.net
Please note that Mr Ahmed Othman Al Tuwajiri confirmed the above address to be correct and
stated that they have never been located at the following address, Courts
Building, Al Farwaniya Area, Kaifan
71954.
Premises
Subject operates from a medium sized suite of offices and a showroom
that are rented and located in the Industrial Area of Kaifan.
Branch Offices
Location Description
Bahrain Street Rented
showroom premises
Shuwaikh Industrial Area
Tel: (965) 22412915 / 22482752
Bank Street Rented
showroom premises
Shuwaikh
Tel: (965) 24911621
Dorat Shahzat Rented
showroom premises
Tel: (965) 2241955
Name Position
Ahmed Othman Al Tuwajiri Managing
Director
Abdulaziz Ahmed Othman Al Tuwajiri Director
Othman Ahmed Othman Al Tuwajiri Director
Abdul Karim Ahmed Othman Al Tuwajiri Director
Yousef Ahmed Othman Al Tuwajiri Director
Mohamed Ahmed Othman Al Tuwajiri Director
Ali Ahmed Othman Al Tuwajiri Director
Maimona Ahmed Othman Al Tuwajiri Director
Mostafa Ibrahim Commercial
Manager
Mowen Tawfiq Finance
Manager
Sheikh Mostan Sales
Manager (Truck Parts)
Sheikh Pasha Sales
Manager (Automobile Parts)
Date of Establishment : 4th
August 1979
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 28336
Trade Licence No. : 3099/79
Chamber Member No. : 8497
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Name of
Shareholder (s)
Ahmed Othman Al Tuwajiri
Abdulaziz Ahmed Othman Al Tuwajiri
Othman Ahmed Othman Al Tuwajiri
Abdul Karim Ahmed Othman Al Tuwajiri
Yousef Ahmed Othman Al Tuwajiri
Mohamed Ahmed Othman Al Tuwajiri
Ali Ahmed Othman Al Tuwajiri
Maimona Ahmed Othman Al Tuwajiri
Activities: Engaged in the wholesale and retail of automotive spare parts and
accessories.
Import Countries: India and Germany
International Suppliers:
BS International India
UMC India
Bharat India
Diesal Technic Germany
Trucktec International Germany
Hengst Germany
Febi Germany
Myle Germany
Diesel Technic Dubai
Truck International Dubai
Brand Names: MERCEDES and BMW
Operating Trend: Steady
Subject has a workforce of 30 employees.
Financial highlights provided by local sources are given below:
Currency: Kuwaiti Dinars (KD)
Year Ending 31/12/13: Year Ending 31/12/14:
Total Sales KD
4,850,000 KD 5,400,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Ahmed
Othman Al Tuwajiri, Managing Director
Commercial Bank of Kuwait
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 company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.59 |
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1 |
Rs.92.46 |
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Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
TPT |
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.