|
Report No. : |
304658 |
|
Report Date : |
28.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
HAYTHAM INTERNATIONAL GENERAL TRADING AND
CONTRACTING CO WLL |
|
|
|
|
Registered Office : |
Building Number 8, Block Number 7, 1st Floor, Street Number
73, PO Box 68437, Kaifan 71957,
Qadisiya |
|
|
|
|
Country : |
Kuwait |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
02.07.2007 |
|
|
|
|
Com. Reg. No.: |
321637 |
|
|
|
|
Legal Form : |
With Limited Liability |
|
|
|
|
Line of Business : |
Engaged in the import and distribution of general foodstuffs. |
|
|
|
|
No. of Employee : |
03 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Kuwait |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 : HAYTHAM INTERNATIONAL GENERAL TRADING AND
CONTRACTING CO WLL
Country of Origin :
Kuwait
Legal Form : With
Limited Liability - WLL
Registration Date :
2nd July 2007
Commercial Registration Number :
321637
Trade Licence Number :
3549/2007
Chamber Membership Number :
109873
Issued Capital :
KD 250,000
Paid up Capital :
KD 250,000
Total Workforce :
3
Activities :
Distributors of general foodstuffs
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Haytham Abdul Sahib Al Sheikh, Managing Director
HAYTHAM INTERNATIONAL GENERAL TRADING AND
CONTRACTING CO WLL
Registered &
Physical Address
Building :
Building Number 8, Block Number 7, 1st Floor
Street : Street
Number 73
PO Box : 68437, Kaifan 71957
Town : Qadisiya
Country : Kuwait
Mobile : (965)
99770370 / 99515799
Facsimile : (965) 22448181
/ 22548181
Premises
Subject operates from a small suite of offices that are rented and
located in the Suburban Business Area of Qadisiya.
Name Nationality Position
Haytham Abdul Sahib Al Sheikh Iraqi Managing Director
Ms Samirah Rashid Abdulrahman Al Jabali Kuwaiti Director
Date of Establishment : 2nd
July 2007
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 321637
Trade Licence No. : 3549/2007
Chamber Member No. : 109873
Issued Capital : KD 250,000
Paid up Capital : KD 250,000
Name of
Shareholder (s)
Haytham Abdul Sahib Al Sheikh
Ms Samirah Rashid Abdulrahman Al Jabali
Activities: Engaged in the import and distribution of general foodstuffs.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 3 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
845,000 KD
870,000
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
Mubarak Al Kabir Street
PO Box: 2861
Safat 13029
Tel: (965) 22411001
Fax: (965) 22450150
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.61.46 |
|
|
1 |
Rs.92.77 |
|
Euro |
1 |
Rs.69.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
-- |
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.