|
Report No. : |
352541 |
|
Report Date : |
03.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
AL ESSA MEDICAL & SCIENTIFIC EQUIPMENT CO WLL |
|
|
|
|
Registered Office : |
Al Essa Building, Canada Dry Street, Sector C Street No. 38, Shuwaikh
Industrial Area, PO Box 3562, Safat 13036 |
|
|
|
|
Country : |
Kuwait |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
15.11.1997 |
|
|
|
|
Com. Reg. No.: |
71404, Safat |
|
|
|
|
Legal Form : |
With Limited
Liability - WLL |
|
|
|
|
Line of Business : |
Subject is engaged in the import and distribution of medical equipment, laboratory instruments, scientific apparatus, chemical products and pharmaceutical products. Subject provides the following products and services :Health Care Equipment, Scientific Equipment, Medical & Laboratory Engineering, Home Health Care Services, Technical Support & Service, Rehabilitation & Wellness |
|
|
|
|
No. of Employee : |
2,200 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 |
Company Name :
AL ESSA MEDICAL & SCIENTIFIC EQUIPMENT CO WLL
Country of Origin : Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date :
15th November 1997
Commercial Registration Number :
71404, Safat
Chamber Membership Number :
54566
Issued Capital :
KD 4,000,000
Paid up Capital :
KD 4,000,000
Total Workforce :
2,200
Activities :
Distributors of medical equipment and supplies
Financial Condition :
Good
Payments :
Regular
Operating Trend :
Steady
Person Interviewed :
Sampath Joseph, Financial Manager
AL ESSA MEDICAL
& SCIENTIFIC EQUIPMENT CO WLL
Building : Al Essa
Building
Street : Canada Dry
Street, Sector C Street No. 38
Area : Shuwaikh
Industrial Area
PO Box : 3562
Town : Safat 13036
Country : Kuwait
Telephone : (965) 24833064
/ 24833051 / 24834510
Facsimile : (965) 24840629
Email : alessa@ncc.moc.kw / alessa@alessakuwait.com
Subject operates from a large suite of offices and a warehouse that are
owned and located in the Industrial Area of Safat.
Branch Office (s)
Location Description
· Building 49/50 Owned
warehouse premises
Street No. 6
Ardiya Industrial
Area
Ardiya
Tel: (965)
24334546 / 24334143
Fax: (965)
24313517
Email: svmkw@gulfnet.net
· Wellness Centre Owned
retail outlet
Jaber Al Mubarak
Street
Sharq
Tel: (965)
22403341 / 22413156
Name Position
· Kolanjucomabi
Thomas Mathew Managing
Director
· Saud Abdulaziz
Essa Al Jenai Director
· Tariq Mohamed Saqr
Al Mashurji Director
· Philip Mathew Sales
Manager
· Jose Thomas Commercial
Manager
· Shaji Varughese Purchasing
Manager
· Sunit Nair Marketing
Manager
· Sampath Joseph Financial
Manager
Date of
Establishment : 15th
November 1997
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 71404, Safat
Chamber Member No. : 54566
Issued Capital : KD 4,000,000
Paid up Capital : KD 4,000,000
· Kolanjucomabi
Thomas Mathew 49%
· Saud Abdulaziz
Essa Al Jenai 36%
· Arabi Holding Co 15%
(Represented by Mr
Tariq Mohamed Saqr Al Mashurji)
· Abdul Aziz Yousuf
Al Essa & Co WLL
Al Essa Building
Canada Dry Street
PO Box: 3562
Shuwaikh
Safat 13036
Tel: (965)
24833051 / 24846204
Fax: (965)
24840629
· Sayyah &
Partners General Trading Co
PO Box: 3562
Shuwaikh
Safat 13036
Tel: (965)
24833051
Fax: (965)
24840629
· Technical Services
& Supplies Trading & Contracting Co
PO Box: 3562
Shuwaikh
Safat 13036
Tel: (965)
24833064
Fax: (965)
24813517
Activities: Engaged in the import and distribution of
medical equipment, laboratory instruments,
scientific
apparatus, chemical products and pharmaceutical products. Subject provides the
following products and services:
Health Care
Equipment:
Engaged
in the supply, installation, commissioning and maintenance of an extensive
range of equipment, instruments, consumables and associated equipment for
dentistry, dermatology, ophthalmology, dialysis and radiology, with a
capability to fully equip ICUs, CCUs, NICUs & ORs.
Scientific
Equipment:
The
company provides a complete range of lab equipment including research and
analytical equipment for applied research, genetic engineering, molecular
biology, materials testing and chemical & petroleum products to aluminium
and steel alloys, as well as the supply and commissioning of pilot plants for
petroleum research.
Medical &
Laboratory Engineering:
Subject
offers services relating to the study, planning and execution of laboratories
for oil companies, hospitals, schools, research institutes, testing centres and
sewage treatment plants. It also offers the design, supply, installation and
maintenance of Hospital and Lab furniture, Central Piped Medical Gas Systems,
Nurse Call Systems.
Home Health Care
Services:
Providing
qualified technical staff for the medical field through supplemental staffing
and licensed practical nurses through Home Health-Care services for bedridden
and terminally ill patients at home.
Technical Support
& Service:
This
department provides preventive, predictive and corrective maintenance for
products supplied through highly skilled technicians with full inventory of
spares, testing equipment & calibration systems.
Rehabilitation
& Wellness:
Subject
also operates a “Wellness Centre” where customers can purchase specialist
medical equipment and dietary care products, including rehabilitation products
for diabetics, ostomy care, from customized wheelchairs to stair lifts, bed
hoists and vehicle lifts, to durable medical equipment from beds to nebulizers.
Import Countries: United States of America, United Kingdom, Germany,
Spain, Argentina, India and Japan.
International Suppliers:
· The Service Master
Company United
States of America
· Alaris Inc United States of
America
· Striker United States of
America
· Electro Medical
Equipment United
Kingdom
· Duckhams United
Kingdom
· Polymer
Laboratories Ltd United
Kingdom
· Swann Morton
Limited United
Kingdom
· Bureau Veritas
Quality International (BVQI) United
Kingdom
· Respronic United Kingdom
· C. Gerhardt GmbH
& Co KG Germany
· Ohmeda Spain
· Antek Argentina
· Jasco Japan
· Abena Japan
· Paramount Corp Japan
· Apollo Hospitals India
Operating Trend: Steady
Subject has a workforce of 2,200 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
21,000,000 KD
22,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Sampath Joseph, Financial Manager
·
Commercial Bank of Kuwait SAK
Mubarak
Al Kabir Street
PO Box:
2861
Safat
13029
Tel:
(965) 22411001
Fax: (965) 22450150
·
National Bank of Kuwait SAK
Ali Awadi Tower
Ahmed Al Jaber Street
PO Box: 95
Safat 13001
Tel: (965) 22422011
Fax: (965) 22431888
·
Gulf Bank KSC
PO Box: 3200
Safat 13032
Tel: (965)
22449501
Fax: (965)
22445212
Regular
Local sources report that subject meets its payments in a timely manner
and is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.62 |
|
|
1 |
Rs.100.34 |
|
Euro |
1 |
Rs.70.67 |
|
KWD |
1 |
Rs. 219.25 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ASH |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.