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Report No. : |
305752 |
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Report Date : |
05.02.2015 |
IDENTIFICATION DETAILS
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Name : |
DIAMOND PLUS GENERAL TRADING AND CONTRACTING CO WLL |
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Registered Office : |
Al Arbeel Building, 5th Floor, Office No. 30, Al Osmani Street,
Hawalli |
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Country : |
Kuwait |
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Date of Incorporation : |
17.01.2005 |
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Com. Reg. No.: |
105114 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Engaged in the import and distribution of general merchandise and the
provision of general contracting services. |
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No. of Employees : |
12 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Kuwait |
A2 |
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. Petroleum accounts for nearly
half of GDP, 95% of export revenues, and 95% of government income. Kuwaiti
officials have committed to increasing oil production to 4 million barrels per
day by 2020. Budget surpluses have stayed around 30% of GDP, which has led to
higher budget expenditures, particularly wage hikes for many public sector
employees, as well as increased allotments to Kuwait’s Future Generations Fund.
Kuwait has done little to diversify its economy, in part, because of this
positive fiscal situation, and, in part, due to the poor business climate and
the historically acrimonious relationship between the National Assembly and the
executive branch, which has stymied most movement on economic reforms. In 2010,
Kuwait passed an economic development plan that pledges to spend up to $130
billion over five years to diversify the economy away from oil, attract more
investment, and boost private sector participation in the economy, though much
of these funds have yet to be allocated.
|
Source
: CIA |
Company Name :
DIAMOND PLUS GENERAL TRADING AND CONTRACTING CO WLL
Country of Origin :
Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date :
17th January 2005
Commercial Registration Number :
105114
Chamber Membership Number :
92528
Issued Capital :
KD 250,000
Paid up Capital :
KD 250,000
Total Workforce :
12
Activities :
Distributors of general merchandise and the provision of general
contracting services
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
ARIC Credit Rating :
BB
Recommended Credit Limit :
US$ 50,000
DIAMOND PLUS GENERAL TRADING AND CONTRACTING CO WLL
Registered &
Physical Address
Building : Al Arbeel
Building, 5th Floor, Office No. 30
Street : Al Osmani
Street
Town : Hawalli
Country : Kuwait
Telephone : (965) 22656008
Facsimile : (965) 22656008
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Hawalli.
Name Position
Khalida J Al Hajri Managing
Director
Mohammed J Al Hajri Director
Date of Establishment : 17th
January 2005
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 105114
Chamber Member No. : 92528
Issued Capital : KD 250,000
Paid up Capital : KD 250,000
Name of Shareholder (s)
Khalida J Al Hajri
Mohammed J Al Hajri
Activities: Engaged in the import and distribution of general merchandise and the
provision of general contracting services.
Subject has a workforce of 12 employees.
Companies registered in Kuwait are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
National Bank of Kuwait SAK
Hawalli
Tel: (965) 22653303 / 22645964
Fax: (965) 22611366
No complaints regarding subject’s payments have been reported.
Please note that we were unable to contact the subject directly during
our investigation.
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.61.68 |
|
|
1 |
Rs.93.53 |
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Euro |
1 |
Rs.70.75 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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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.