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Report No. : |
304871 |
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Report Date : |
28.01.2015 |
IDENTIFICATION DETAILS
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Name : |
YAMAMA AL BAIDA
GENERAL TRADING AND CONTRACTING EST |
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Registered Office : |
Canada Dry Street, Shuwaikh Industrial Area, P O Box 1928 & 2610, Safat 13020 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2014 (Estimated) |
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Date of Incorporation : |
22.04.2002 |
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Com. Reg. No.: |
97299 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
import and distribution of frozen fish and seafood [We tried to confirm / obtain the detailed activity but the same is not available from any sources.] |
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No of Employees : |
08 |
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
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 |
Concern Name : YAMAMA AL BAIDA GENERAL TRADING AND CONTRACTING EST
Country of Origin : Kuwait
Legal Form : Sole Proprietorship
Registration Date : 22nd April 2002
Commercial Registration Number : 97299
Trade Licence Number : 4257/2003
Chamber Membership Number : 77105
Invested Capital : KD 40,000
Total Workforce : 8
Activities : Distributors of frozen fish and seafood.
Financial Condition : Fair
Payments : No Complaints
Operating Trend : Steady
Person Interviewed : Ishtiaq Ahmed, Sales Executive
YAMAMA AL BAIDA GENERAL TRADING AND
CONTRACTING EST
Registered &
Physical Address
Street : Canada Dry Street
Area : Shuwaikh
Industrial Area
PO Box : 1928 & 2610
Town : Safat 13020
Country : Kuwait
Telephone : (965) 22449717 / 22400638 / 24913096
Facsimile : (965) 22400631
Mobile : (965) 99738689 / 99064030 / 97545383 / 67545383
Email : yamamakw@hotmail.com / faisal@yamamakwt.com
Please note that
the subject’s previous address was, Mubarak Al Kabeer Street, Safat.
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Safat.
Name Position
·
Ms
Hanan Musad Abdulrazzaq Abdul Jalil Proprietor
·
Abdulrahman Faisal General
Manager
·
Ragheb
Zubairi Assistant
General Manager
·
Ishtiaq Ahmed Sales
Executive
Date of Establishment : 22nd
April 2002
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 97299
Trade Licence No. : 4257/2003
Chamber Member No. : 77105
Invested Capital
: KD 40,000
Ms Hanan Musad
Abdulrazzaq Abdul Jalil is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
frozen fish and seafood.
Import
Countries: India, Pakistan,
Thailand and Myanmar.
Operating Trend: Steady
Subject has a
workforce of 8 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 920,000 KD 975,000
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
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.46 |
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UK Pound |
1 |
Rs.92.77 |
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Euro |
1 |
Rs.69.03 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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 |
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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.