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Report No. : |
317571 |
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Report Date : |
17.04.2015 |
IDENTIFICATION DETAILS
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Name : |
KUWAIT DAIRY
COMPANY SAK (KDC) |
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Registered Office : |
Sulaibiya District, P O Box: 3240, Safat 13033 |
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Country : |
Kuwait |
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Date of Incorporation : |
08.08.1978 |
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Com. Reg. No.: |
26776 |
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Legal Form : |
Kuwaiti Joint Stock Company |
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Line of Business : |
Subject is engaged in the production and processing of a
range of dairy products including fresh pasteurised milk, flavoured milk,
laban, yoghurt, breakfast cream, labneh, cheese, butter, UHT long-life
products and a wide range of ice cream products made from 100% fresh milk, as
well as fruit juices. |
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No. of Employees : |
490 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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
|
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 |
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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 : KUWAIT
DAIRY COMPANY SAK (KDC)
Country of Origin : Kuwait
Legal Form :
Kuwaiti Joint Stock Company
Start Date :
1960
Registration Date : 8th
August 1978
Commercial
Registration Number : 26776
Chamber Membership
Number : 7331
Issued Capital : KD
20,000,000
Paid up Capital : KD
20,000,000
Total Workforce : 490
Activities :
Production and processing of a range of dairy products
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Ahmed Al Shabrawi, Financial Controller
KUWAIT DAIRY
COMPANY SAK (KDC)
Location : Sulaibiya District
PO Box : 3240
Town : Safat 13033
Country :
Telephone : (965) 24670088 / 24679748 / 24671632 / 24674632
/ 24671617
Facsimile : (965) 24676612
Email : info@kdcow.com
Subject operates
from a suite of offices and production facilities covering an area of 10,000 square
meters that are owned and
located in the Industrial Area of Safat.
Name Position
·
Ahmed
Shams Eldin Chairman
·
Ali
Abdullah Al Nasib Managing
Director
·
Jassim
Al Qatami Director
·
Adel H.
Al Shaker Director
·
Dr Salah Abdullah Al Ateeqi General
Manager
·
Mostafa
Kamal Sales
Manager
·
Rakesh
Kumar Production
Manager
·
Talat
Abdul Qader Accounts
Manager
·
Abdulrahman
Abdul Qader Al Maseeri Commercial
Manager
·
Ahmed Al Shabrawi Financial
Controller
Date of Establishment : Subject’s
operations date back to 1960, however it was registered on 8th
August 1978.
Legal Form :
Kuwaiti Joint Stock Company
Commercial Reg. No. : 26776
Chamber Member No. : 7331
Issued Capital : KD 20,000,000
Paid up Capital : KD 20,000,000
·
Ahmed
Shams Eldin
·
Ali
Abdullah Al Nasib
·
Jassim
Al Qatami
·
Adel H.
Al Shaker
·
Ali Abdullah Al Naseef
·
Ahmed Yousef Ahmed Al Saqr
·
Heirs of Yousef Ahmed Al Saqr
·
Heirs of Mohamed Saleem Ba Ateeq Co
·
Jassim Mohamed Al Wazzan Sons Co
·
Naif Fresh Dairy Product Co
·
Al Salibayia Farms Co
·
Subject
has approximately 150 shareholders in total
Activities: Engaged in the production and processing
of a range of dairy products including fresh pasteurised milk, flavoured milk,
laban, yoghurt, breakfast cream, labneh, cheese, butter, UHT long-life products
and a wide range of ice cream products made from 100% fresh milk, as well as
fruit juices.
Production
Capacity: 200,000 litres
per day
Import Countries
: Germany and the United
Kingdom.
Brand Names : KD COW, RAWAN, NATIVIA
Subject has a
workforce of approximately 490 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.
·
Kuwait
Finance House (KFH)
Safat Square
Abdullah Al Mubarak Street
PO Box: 24989
Safat 13110
Tel: (965) 22445050
Fax: (965) 22455135
A/c No. 3539-8
No complaints
regarding subject’s payments have been reported.
Credit amount 100,000
Amount overdue 0
Payment terms 120
days
Payment Method Letters of Credit
Paying record No
Complaints
Currency Euros
Kuwait Dairy
Company SAK has been in business for over 50 years and is a leading concern in
the Kuwaiti dairy industry.
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.92.44 |
|
Euro |
1 |
Rs.66.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
|
|
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 |
|
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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 |
|
|
<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.