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Report No. : |
338471 |
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Report Date : |
27.08.2015 |
IDENTIFICATION DETAILS
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Name : |
AMASI GROUP GENERAL TRADING & CONTRACTING CO WLL |
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Registered Office : |
Plot No. 21, Building No. 17, |
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Country : |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
09.04.2004 |
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Com. Reg. No.: |
99047 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Subject operates through the following divisions: ·
Foodstuff Division ·
Computer Division ·
Advertising & Exhibition Division |
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No. of Employees : |
53 |
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
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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.
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Source
: CIA |
Company Name :
AMASI GROUP GENERAL TRADING & CONTRACTING CO WLL
Country of Origin :
Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date :
9th April 2004
Commercial Registration Number : 99047
Chamber Membership Number :
86871
Issued Capital :
KD 50,000
Paid up Capital :
KD 50,000
Total Workforce :
53
Activities :
Subject operates several divisions (see below for details)
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Khalid Mohamed Al Hamid Al Ajmi, Managing Director
AMASI GROUP GENERAL TRADING & CONTRACTING CO WLL
Registered &
Physical Address
Location : Plot No. 21,
Building No. 17
PO Box : 74
Town : Al Jahra
Country : Kuwait
Telephone : (965) 24566665
/ 22277665
Facsimile : (965) 24566666
Mobile : (965)
99210927 / 99898111
Email : amasi@hotmail.com
Please note that subject’s previous address was, Mezzanine Floor, Unit
6, Souq Al Watanna, Mirqab.
Premises
Subject operates from a medium sized suite of offices that are rented and
located in the Central Business Area of Al Jahra.
Name Position
Khalid Mohamed Al Hamid Al Ajmi Managing
Director
Asma Mohamed Saleh All Shamary Director
Saleh Al Hassan Commercial
Manager
Date of Establishment : 9th
April 2004
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 99047
Chamber Member No. : 86871
Issued Capital : KD 50,000
Paid up Capital : KD 50,000
Name of Shareholder (s)
Khalid Mohamed Al Hamid Al Ajmi
Asma Mohamed Saleh All Shamary
Activities: Subject operates through
the following divisions:
Foodstuff Division
Engaged in the import and distribution of general foodstuffs.
Computer Division
Engaged in the import and distribution of computers and related
accessories.
Advertising &
Exhibition Division
Engaged in the provision of advertising, exhibition and management
services.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 53 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
2,100,000 KD
2,225,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
National Bank of Kuwait SAK
Al Jahra
Tel: (965) 24773123
Fax: (965) 24773124
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.16 |
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1 |
Rs.103.87 |
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Euro |
1 |
Rs.75.89 |
INFORMATION DETAILS
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Analysis Done by
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KAS |
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Report Prepared
by : |
TPT |
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.