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Report No. : |
308260 |
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Report Date : |
20.02.2015 |
IDENTIFICATION DETAILS
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Name : |
ANWAR AL JAZEERA
GENERAL TRADING AND CONTRACTING EST |
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Registered Office : |
Block 1, 3rd
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Country : |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
27.03.1983 |
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Com. Reg. No.: |
34502, Safat |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
import and distribution of general foodstuffs and consumable goods [NOTE: We tried to confirm / obtain the detailed activity but the same is not available from any sources.] |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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.
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Source
: CIA |
Concern Name : ANWAR AL JAZEERA GENERAL TRADING AND CONTRACTING
EST
Country of Origin : Kuwait
Legal Form : Sole Proprietorship
Registration Date : 27th March 1983
Commercial Registration Number : 34502, Safat
Trade Licence Number : 242/83
Chamber Membership Number : 13357
Invested Capital : KD 60,000
Total Workforce : 35
Activities : Distributors of general foodstuffs and consumable goods
Financial Condition : Fair
Payments : No Complaints
Operating Trend : Steady
Person Interviewed : Amer Mohamed Deeb, Commercial Manager
ANWAR AL JAZEERA GENERAL TRADING AND
CONTRACTING EST
Registered &
Physical Address
Location : Block 1, 3rd Industrial
City, Shuwaikh, Murgab
PO Box : 23147
Town : Safat 130092
Country :
Telephone : (965) 24839396 / 22407760 / 24824332
/ 22429298
Facsimile : (965) 22431995 / 24824332 / 24826717
Email : (965) 66480000
Email : info@anwaraljazeera.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and located
in the Industrial Area of Safat.
Name Position
·
Fadel
Saud Sulaiman Al Fadel Proprietor
& General Manager
·
Saleem
Mohamed Jobarah Assistant
General Manager
·
Amer
Mohamed Deeb Commercial
Manager
·
Yasser
Awad Financial
Controller
Date of Establishment : 27th
March 1983
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 34502, Safat
Trade Licence No. : 242/83
Chamber Member No. : 13357
Invested Capital
: KD 60,000
Mr. Fadel Saud Sulaiman
Al Fadel is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
general foodstuffs and consumable goods.
Import
Countries: Turkey, Belgium,
Saudi Arabia and the United Arab Emirates.
International Suppliers:
·
Mutlu Makarnacilik Sanayi Ve Ticaret AS Turkey
·
Nitchi Food Belgium
·
Silver Plate Factory United
Arab Emirates
·
Al Gailani Food Saudi
Arabia
Operating Trend: Steady
Subject has a
workforce of 35 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 Revenue KD 1,945,000 KD 2,100,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Amer Mohamed Deeb, Commercial Manager
·
Commercial
Bank of Kuwait SAK
Mubarak Al Kabir Street
PO Box: 2861
Safat 13029
Tel: (965) 22411001
Fax: (965) 22450150
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
business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.25 |
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UK Pound |
1 |
Rs.95.57 |
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Euro |
1 |
Rs.71.01 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
MNL |
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.