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Report No. : |
355384 |
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Report Date : |
22.12.2015 |
IDENTIFICATION DETAILS
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Name : |
ROYAL SIGN
GENERAL TRADING & CONTRACTING CO WLL |
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Registered Office : |
Kuwait Real
Estate Complex, Building 8, Block 8, Mezzanine Floor, Office 76, Al Geblah,
Safat |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
15.01.2009 |
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Com. Reg. No.: |
325623 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Import and
distribution of chemicals, building materials, marble, gifts and jewellery
boxes. |
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No. of Employees : |
35 |
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) |
|
Kuwait |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 : ROYAL SIGN
GENERAL TRADING & CONTRACTING CO WLL
Country of Origin : Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date : 15th
January 2009
Commercial
Registration Number : 325623
Chamber Membership
Number : 117642
Issued Capital : KD
250,000
Paid up Capital : KD
250,000
Total Workforce :
35
Activities :
Distributors of chemicals, building materials, marble, gifts and jewellery boxes
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Karam
Abdullatif, Accounts Manager
ROYAL SIGN GENERAL
TRADING & CONTRACTING CO WLL
Location : Kuwait Real Estate Complex,
Building 8, Block 8, Mezzanine Floor, Office 76, Al Geblah
Town : Safat
Country : Kuwait
Telephone : (965) 22204140
Facsimile : (965) 22484314
Email : karam@mabrookco.com
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Safat.
Name Nationality Position
·
Abdullah
Ali Abdullah Atash Kuwaiti Managing
Director
·
Ridha
Ali Farhat Lebanese Director
·
Karam
Abdullatif - Accounts
Manager
·
Mohamed
Ali Mahmoud Moghniya - Assistant
General Manager
Date of Establishment : 15th
January 2009
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 325623
Chamber Member No. : 117642
Issued Capital : KD 250,000
Paid up Capital : KD 250,000
·
Abdullah
Ali Abdullah Atash
·
Ridha
Ali Farhat
·
Mabrook
Hotel Supplies Co
Safat
Activities: Engaged in the import and distribution of
chemicals, building materials, marble, gifts and jewellery boxes.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 35 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 2,450,000 KD 2,600,000
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
Ali Awadi Tower
Ahmed Al Jaber Street
PO Box: 95
Safat 13001
Tel: (965) 23981188 / 23981189
Fax: (965) 23985643
No complaints
regarding subject’s payments have been reported.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.32 |
|
|
1 |
Rs.98.99 |
|
Euro |
1 |
Rs.72.13 |
|
KWD |
1 |
Rs.218.37 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.