|
Report No. : |
316744 |
|
Report Date : |
14.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
PEARL BAYDAI
GENERAL TRADING & CONTRACTING CO WLL |
|
|
|
|
Registered Office : |
Ras Al Salmiya Business District, Shuwaikh Industrial Area, P O Box: 36100, Salmiya 24751 |
|
|
|
|
Country : |
Kuwait |
|
|
|
|
Date of Incorporation : |
14.03.1982 |
|
|
|
|
Com. Reg. No.: |
32754 |
|
|
|
|
Legal Form : |
With Limited
Liability - WLL |
|
|
|
|
Line of Business : |
Import and
Distribution of General Merchandise and the Provision of General Contracting
Services. |
|
|
|
|
No. of Employees : |
15 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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. Kuwaiti officials plan to increase oil production to 4
million barrels per day by 2020. Petroleum accounts for over half of GDP, 94%
of export revenues, and 89% of government income. For the last decade, high oil
prices have generated budget surpluses despite increasing budget expenditures,
particularly on wage hikes for public sector employees. Despite Kuwait’s
dependence on oil, the government has cushioned itself against the impact of
lower oil prices by continuous saving of at least 10% of government revenue in
the Fund for Future Generations. Kuwait has done little to diversify its
economy, in part, due to a poor business climate and an acrimonious
relationship between the National Assembly and the executive branch that has
stymied most economic reforms. In 2010, Kuwait passed its first long-term
economic development plan in almost twenty-five years. While the government
planned to spend up $104 billion over four years to diversify the economy away
from oil, attract more investment, and boost private sector participation in
the economy, many of the projects did not materialize because of the tenuous
political situation.
|
Source
: CIA |
Company Name : PEARL
BAYDAI GENERAL TRADING & CONTRACTING CO WLL
Country of Origin : Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date : 14th
March 1982
Commercial
Registration Number : 32754
Chamber Membership
Number : 16688
Issued Capital : KD
400,000
Paid up Capital : KD
400,000
Total Workforce : 15
Activities :
Distributors of general merchandise and the provision of
general contracting services.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
PEARL BAYDAI
GENERAL TRADING & CONTRACTING CO WLL
Location : Ras Al Salmiya Business District
Area : Shuwaikh Industrial Area
PO Box : 36100
Town : Salmiya 24751
Country : Kuwait
Telephone : (965) 24834646 / 25736333 / 24827013
Facsimile : (965) 24845533 / 24826878
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Salmiya.
Name Position
·
Khalf
Faisal Khalf Al Anzi Managing
Director
·
Ali
Hassan Fakhieh Director
·
Nadeem
Salman Al Bana Director
Date of Establishment : 14th
March 1982
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 32754
Chamber Member No. : 16688
Issued Capital : KD 400,000
Paid up Capital : KD 400,000
·
Khalf
Faisal Khalf Al Anzi
·
Ali
Hassan Fakhieh
·
Nadeem
Salman Al Bana
Activities: Engaged in the import and distribution of
general merchandise and the provision of general contracting services.
Subject has a
workforce of 15 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.
·
Commercial
Bank of Kuwait SAK
Salmiya
Tel: (965) 25715989
No complaints
regarding subject’s payments have been reported.
Please note that we
were unable to contact the subject directly during our investigation.
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.62.37 |
|
|
1 |
Rs.91.60 |
|
Euro |
1 |
Rs.66.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
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 |
|
|
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 |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
|
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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
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.