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Report No. : |
337476 |
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Report Date : |
20.08.2015 |
IDENTIFICATION DETAILS
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Name : |
KUWAIT NATIONAL
FACTORY FOR PLASTIC |
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Registered Office : |
Western Suaiba, Block 5, Plot No. B133, Ahmadi |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
30.06.2007 |
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Com. Reg. No.: |
121089 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacture of
Plastic Products, Including, Pipes and Sheets. |
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No. of Employees : |
25 |
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 : KUWAIT
NATIONAL FACTORY FOR PLASTIC
Country of Origin : Kuwait
Legal Form :
Sole Proprietorship
Registration Date : 30th
June 2007
Commercial
Registration Number : 121089
Chamber Membership
Number : 10927
Invested Capital : KD 50,000
Total Workforce : 25
Activities :
Manufacturers of plastic products.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
KUWAIT NATIONAL
FACTORY FOR PLASTIC
Location : Western Suaiba, Block 5, Plot No.
B133
Town : Ahmadi
Country : Kuwait
Telephone : (965) 66480466 / 66559170
Email : habibalazmi@yahoo.com
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Ahmadi.
Name Position
·
Abdullah
Dahyazan Abdullah Al Azmy Proprietor
& General Manager
·
Habib
Abdullah Dahyazan Abdullah Al Azmy Assistant
General Manager
·
Rashad
Abdullah Dahyazan Abdullah Al Azmy Commercial
Manager
Date of Establishment : 30th
June 2007
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 121089
Chamber Member No. : 10927
Invested Capital : KD 50,000
Mr Abdullah Dahyazan Abdullah Al Azmy is the sole proprietor of the
business.
Activities: Engaged in the manufacture of plastic products,
including, pipes and sheets.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 25 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 1,200,000 KD 1,255,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Commercial
Bank of Kuwait SAK
Mubarak Al Kabir Street
PO Box: 2861
Safat 13029
Tel: (965) 22411001
Fax: (965) 22450150
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.25 |
|
|
1 |
Rs.102.25 |
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Euro |
1 |
Rs.72.20 |
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.