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Report No. : |
306208 |
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Report Date : |
10.02.2015 |
IDENTIFICATION DETAILS
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Name : |
AL FOUZ TOASTING & MILLS EST |
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Registered Office : |
Building No. 195-C, Street No. 36, Block No. 3, Shuwaikh Industrial
Area, 8470 Salmiya 22055 |
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Country : |
Kuwait |
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Date of Incorporation : |
09.01.1995 |
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Com. Reg. No.: |
33831 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged as operators of a mill and roasting plant for
coffee and spices. |
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No. of Employee : |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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. 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.
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Source
: CIA |
Company Name :
AL FOUZ TOASTING & MILLS EST
Country of Origin :
Kuwait
Legal Form :
Sole Proprietorship
Registration Date :
9th January 1995
Commercial Registration Number: 33831
Trade Licence Number :
1506/91
Chamber Membership Number : 44435
Invested Capital :
KD 50,000
Total Workforce : 25
Activities :
Operators of a mill and roasting plant for coffee and spices
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Mohamed Misbel, Administration Manager
AL FOUZ TOASTING
& MILLS EST
Building :
Building No. 195-C
Street : Street No.
36, Block No. 3
Area : Shuwaikh
Industrial Area
PO Box : 8470
Town : Salmiya 22055
Country : Kuwait
Telephone : (965) 24818450
(ext 12) / 24814638 / 24813939 / 24818451
/ 24814638 / 24813939 / 25610187
Facsimile : (965) 24818451
/ 24818156 / 24818450 / 25610187
Mobile : (965)
99580803
Email : info@alfouzkw.com
Please note that subject’s previous address was, Canada Dry Street, Salmiya.
Subject operates from a medium sized suite of offices and a mill that
are rented and located in the Industrial Area of Salmiya.
Name Position
· Mrs Saleema
Ibrahim Al Tamimi Proprietor
· Abdullah Ghulam
Jamal General
Manager
· Salem Mohamed
Ghulam Sales
Manager
· Hassan Iman Financial
Controller
· Mohamed Misbel Administration
Manager
Date of
Establishment : 9th
January 1995
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 33831
Trade Licence No. : 1506/91
Chamber Member No. : 44435
Invested Capital : KD 50,000
Mrs Saleema Ibrahim Al Tamimi is the sole proprietor of the business.
Activities: Engaged as operators of a mill and roasting plant for coffee and
spices.
Import Countries: Brazil, Malaysia and India
Brand Name: AL FOUZ
Operating Trend: Steady
Subject has a workforce of 25 employees.
Financial highlights provided by local sources are given below:
Currency: Kuwaiti Dinar (KD)
Year Ending 31/12/13: Year Ending 31/12/14:
Total Sales KD
2,480,000 KD
2,625,000
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
Main Branch
Salmiya
Tel:
(965) 25715989
No complaints regarding subject’s payments have been reported.
Credit amount 25,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
Established in 1995, subject is owned and managed by Mrs Saleema Ibrahim
Al Tamimi who is well respected in the local business community.
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the business is
deemed a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.14 |
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|
1 |
Rs. 94.78 |
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Euro |
1 |
Rs. 70.38 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ASH |
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 |
-- |
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.