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Report No. : |
337065 |
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Report Date : |
19.08.2015 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL
INTERNATIONAL GENERAL TRADING & CONTRACTING CO WLL |
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Registered Office : |
Shop No 39, 40,
41 & 42, Ahmadi Industrial Area, P O Box: 55887, Sabahiya 54569 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
11.05.1993 |
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Com. Reg. No.: |
91050 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Import and
Distribution of water treatment materials, gas and oilfield equipment,
engineering and construction materials. |
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No. of Employees : |
180 |
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) |
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Kuwait |
A1 |
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. 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 : GLOBAL
INTERNATIONAL GENERAL TRADING & CONTRACTING
CO WLL
Country of Origin : Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date : 11th
May 1993
Commercial
Registration Number : 91050
Trade Licence
Number :
2710/2002
Chamber Membership
Number : 35639
Issued Capital : KD
1,500,000
Paid up Capital : KD
1,500,000
Total Workforce : 180
Activities :
Distributors of water treatment materials, gas and oilfield equipment,
engineering and construction materials.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Geril
Augastine, Finance Manager
GLOBAL
INTERNATIONAL GENERAL TRADING & CONTRACTING CO WLL
Building : Shop No 39, 40, 41 & 42
Area : Ahmadi Industrial Area
PO Box : 55887
Town : Sabahiya 54569
Country : Kuwait
Telephone : (965) 23987280 / 23987256 / 23984081
Facsimile : (965) 23987121
Mobile : (965) 66006888
Email : global@globalintl.com / e.global@globalinte.com
Subject operates
from a large suite of offices and showrooms that are rented and located in the
Industrial Area of Sabahiya.
Name Nationality Position
·
Anthony
Arngari Raphael Indian Managing Director
·
Jose
Arngari Raphael Indian Director
·
Hussain
Abdullah Ahmed Gowahar Kuwaiti Director
·
Geril
Augastine - Finance
Manager
·
Jisha
Krishnan - Purchasing
Manager
Date of Establishment : 11th
May 1993
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 91050
Trade
Licence No. : 2710/2002
Chamber Member No. : 35639
Issued Capital : KD 1,500,000
Paid up Capital : KD 1,500,000
·
Anthony
Arngari Raphael
·
Jose
Arngari Raphael
·
Hussain
Abdullah Ahmed Gowahar
Activities: Engaged in the import and distribution of
water treatment materials, gas and oilfield equipment,
engineering and construction
materials.
Import
Countries: Sweden and South
Korea
International Suppliers:
·
Sandvik Sweden
·
Superlok South Korea
Operating Trend: Steady
Subject has a
workforce of 180 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 16,800,000 KD 17,250,000
Local sources
consider subject’s financial condition to be Fair.
The above figures were
provided by Mr Geril Augastine, Finance Manager
·
Gulf
Bank
Sabahiya
Tel: (965) 1805805
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.22 |
|
|
1 |
Rs.102.23 |
|
Euro |
1 |
Rs.72.39 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.