MIRA INFORM REPORT

 

 

Report No. :

335909

Report Date :

17.08.2015

 

IDENTIFICATION DETAILS

 

Name :

SAMRAT EXQUISITE HOSPITALITY

 

 

Registered Office :

Building No. 75, Shop No. 3, King Fawzi Abdel Wahab Soliman Fawzan Land, Aradiya Lajna, Menus Mall, Abu Halifah, Safat

 

 

Country :

Kuwait

 

 

Date of Incorporation :

15.12.2014

 

 

Com. Reg. No.:

356449

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Subject is engaged as operators of a Chinese and Indian food restaurant.

 

 

No. of Employees :

40

 

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

 

--

NB

New Business

 

--

 

Status :

New Business

 

 

Payment Behaviour :

Unknown

 

 

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

 

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 uncertain political situation.

 

Source : CIA

 

 

 

SUMMARY

 

Company Name                                    : SAMRAT EXQUISITE HOSPITALITY

Also Known As                                     : SAMRAT RESTAURANTS

Country of Origin                                   : Kuwait

Legal Form                                           : Sole Proprietorship

Registration Date                                  : 15th December 2014

Commercial Registration Number           : 356449

Chamber Membership Number               : 147692

Invested Capital                                    : KD 20,000

Total Workforce                                     : 40

Activities                                               : Operators of a Chinese and Indian food restaurant.

Financial Condition                                : Undetermined

Payments                                             : Nothing detrimental uncovered

Person Interviewed                                : Tarram Singh, Finance Manager

 

 

 

COMPANY NAME

 

SAMRAT EXQUISITE HOSPITALITY

 

 

ALSO KNOWN AS

 

SAMRAT RESTAURANTS

 

 

ADDRESS

 

Registered & Physical Address

 

Building            : Building No. 75, Shop No. 3

Area                 : King Fawzi Abdel Wahab Soliman Fawzan Land, Aradiya Lajna, Menus Mall, Abu Halifah

 

Town                : Safat

Country             : Kuwait

 

Telephone         : (965) 22091920 / 22091921

Facsimile          : (965) 22091921

Mobile              : (965) 55505970

Email                : samratawt@gemail.com

 

Premises

 

Subject operates from a medium sized suite of offices, and a restaurant that are rented and located in the Central Business Area of Safat.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

·       Saadoun A Al Khaldi                                                                         Proprietor

·       Tarram Singh                                                                                    Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 15th December 2014

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.   : 356449

 

Chamber Member No.  : 147692 (Expires 09/12/2018)

 

Invested Capital           : KD 20,000

 

Mr Saadoun A Al Khaldi is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities: Engaged as operators of a Chinese and Indian food restaurant.

 

Import Countries: India and the Far East.

 

Subject has a workforce of 40 employees.

 

 

FINANCIAL DATA

 

Subject is a newly formed business and as a result financial information is not currently available.

 

 

BANKERS

 

·       Kuwait Finance House (KFH)

Safat Square

Abdullah Al Mubarak Street

PO Box: 24989

Safat 13110

Tel: (965) 22445050

Fax: (965) 22455135

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

In view of subject’s infancy, extensive payment and financial are not available, therefore dealings are recommended to be on secured terms, and a close monitoring of subject’s business development is advisable.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.92

UK Pound

1

Rs.101.44

Euro

1

Rs.72.26

 

 

 

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.