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Report No. : |
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Report Date : |
12.02.2015 |
IDENTIFICATION DETAILS
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Name : |
KUWAITI JARAH CO
FOR GENERAL TRADING & CONTRACTING WLL |
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Registered Office : |
Al Jahra Area, PO
Box 170, Jahra 01003 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2014 (Estimated) |
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Date of Incorporation : |
02.11.1996 |
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Com. Reg. No.: |
67449 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Engaged as general
electrical contractors, subject also wholesales electrical and light
fittings. |
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No of Employees : |
34 |
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 : KUWAITI JARAH CO FOR GENERAL TRADING & CONTRACTING
WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 2nd November 1996
Commercial Registration Number : 67449
Trade Licence Number : 875/96
Chamber Membership Number : 51243
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
Total Workforce : 34
Activities : General electrical contractors, subject also wholesales electrical and
light fittings.
Financial Condition : Fair
Payments : No Complaints
Operating Trend : Steady
KUWAITI JARAH CO FOR GENERAL TRADING &
CONTRACTING WLL
Registered &
Physical Address
Location : Al Jahra Area
PO Box : 170
Town : Jahra 01003
Country : Kuwait
Telephone : (965) 22407574
Facsimile : (965) 22449294
Mobile : (965) 99050958
Email : alkuwaitih_jarco@yahoo.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Industrial Area of Jahra.
Name Position
·
Sulaiman
Saleh Al Salem Managing
Director
·
Ibrahim
Saleh Al Salem Director
·
Mussad
Faleh Sulaiman Al Salem Director
·
Fatima
Sulaiman Faleh Al Salem Director
·
Sheikh
Basha Khalil Hayman Saleb Director
Date of Establishment : 2nd
November 1996
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 67449
Trade Licence No. : 875/96
Chamber Member No. : 51243
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
Name of
Shareholder (s)
·
Sulaiman
Saleh Al Salem
·
Mussad
Faleh Sulaiman Al Salem
·
Fatima
Sulaiman Faleh Al Salem
·
Sheikh
Basha Khalil Hayman Saleb
Activities: Engaged as general electrical contractors,
subject also wholesales electrical and light fittings.
Import
Countries: Europe and the Far
East.
Operating Trend: Steady
Subject has a
workforce of 34 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 Revenue KD 6,125,000 KD 6,360,000
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
Main Branch
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.15 |
|
UK Pound |
1 |
Rs.94.72 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
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 |
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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.