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Report No. : |
335471 |
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Report Date : |
07.08.2015 |
IDENTIFICATION DETAILS
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Name : |
AL ARABI PLASTIC
FACTORY |
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Registered Office : |
Cross 103, Street
No 105, Sabhan Industrial Area (South), Plot No 8, P O Box: 231, Safat 13003 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
03.01.1984 |
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Com. Reg. No.: |
2963 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Manufacturers of
Plastic Rolls. |
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No. of Employees : |
140 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Kuwait |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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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. 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 uncertain
political situation.
|
Source
: CIA |
Company Name : AL ARABI
PLASTIC FACTORY
Country of Origin : Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date : 3rd
January 1984
Commercial
Registration Number : 2963
Trade Licence
Number : 10546
Chamber Membership
Number : 14693
Issued Capital : KD
750,000
Paid up Capital : KD
750,000
Total Workforce :
140
Activities :
Manufacturers of plastic rolls
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
AL ARABI PLASTIC
FACTORY
Street : Cross 103, Street No 105
Area : Sabhan Industrial Area
(South), Plot No 8
PO Box : 231
Town : Safat 13003
Country : Kuwait
Telephone : (965) 24722093 / 24722094 / 24722095
Facsimile : (965) 24722096
Email : arabiplastic@hotmail.com / arabiplastic@alkhudairi-group.com
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Safat.
Name Position
·
Abdulaziz
Mohamed Al Khudairi Managing
Director
·
Wafa Mohamed
Al Khudairi Director
·
Mahmoud
Ali Accounts
Manager
·
Osama
Ahmed Al Makhalfy General
Manager
·
Mohamed
Abu Al Tayeb Administration
Manager
Date of Establishment : 3rd
January 1984
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 2963
Trade
Licence No. : 10546
Chamber Member No. : 14693
Issued Capital : KD 750,000
Paid up Capital : KD 750,000
·
Abdulaziz
Mohamed Al Khudairi
·
Wafa
Mohamed Al Khudairi
·
Khudairi
General Trading & Contracting Co WLL
Safat
Activities: Engaged in the manufacture of plastic
rolls.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 140 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 3,750,000 KD 3,920,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Kuwait
Finance House (KFH)
Safat Square
Abdullah Al Mubarak Street
PO Box: 24989
Safat 13110
Tel: (965) 22445050
Fax: (965) 22455135
No complaints
regarding subject’s payments have been reported.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.76 |
|
|
1 |
Rs.99.60 |
|
Euro |
1 |
Rs.69.71 |
INFORMATION DETAILS
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Analysis Done by
: |
TRI |
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Report Prepared
by : |
NIT |
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.