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Report No. : |
304960 |
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Report Date : |
28.01.2015 |
IDENTIFICATION DETAILS
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Name : |
JANATA GENERAL
TRADING CO |
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Registered Office : |
Mecca Street Souq Fahaheel 46031 Fahaheel 64011 |
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Country : |
Kuwait |
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Date of Incorporation : |
11.08.1992 |
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Com. Reg. No.: |
7167 |
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Legal Form : |
General Partnership |
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Line of Business : |
Engaged in the import and distribution of general dried foodstuffs. |
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No. of Employee : |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Kuwait |
A2 |
A2 |
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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 :
JANATA GENERAL TRADING CO
Country of Origin :
Kuwait
Legal Form :
General Partnership
Registration Date :
11th August 1992
Commercial Registration Number :
7167
Chamber Membership Number :
31905
Partners Capital :
KD 80,000
Total Workforce :
12
Activities :
Distributors of general dried foodstuffs
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
JANATA GENERAL
TRADING CO
Street : Mecca Street
Area : Souq
Fahaheel
PO Box : 46031
Town : Fahaheel
64011
Country : Kuwait
Telephone : (965) 23913891
/ 23925153 / 23915577 / 23920193 / 23929002
Facsimile : (965) 23926356
/ 23925522
Mobile : (965)
99752700
Email : janatakuwait@hotmail.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Fahaheel.
Name Position
· Saud Abdulaziz
Saud Al Suabie Managing
Partner
· Abdulaziz Saud
Kamel Al Suabie Partner
· Mohamed Qaiser Sales
Executive
· Mohamed Ibrahim
Ahmed Administration
Manager
Date of
Establishment : 11th
August 1992
Legal Form : General Partnership
Commercial Reg.
No. : 7167
Chamber Member No. : 31905
Partners Capital : KD 80,000
Name of Partner (s)
· Saud Abdulaziz
Saud Al Suabie
· Abdulaziz Saud
Kamel Al Suabie
Activities: Engaged in the import and distribution of general dried foodstuffs.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 12 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
1,035,000 KD
1,110,000
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
Ali Awadi Tower
Ahmed Al Jaber Street
PO Box: 95
Safat 13001
Tel: (965) 23981188 / 23981189
Fax: (965) 23985643
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.46 |
|
|
1 |
Rs.92.77 |
|
Euro |
1 |
Rs.69.03 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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|
|
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Report Prepared
by : |
ANK |
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 |
|
<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.