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Report No. : |
304986 |
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Report Date : |
29.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
AL KHAT PACKAGING
CO WLL |
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|
|
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Registered Office : |
Shuaiba Industrial
Area, P O Box 10183, Shuaiba 65452 |
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|
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2014 (Estimated) |
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Date of Incorporation : |
14.02.2001 |
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Com. Reg. No.: |
118238 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Engaged in the
Manufacturing Packaging
Products, Boxes, Paper Bags and Cup Holders |
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No of Employees : |
250 (Approximately) |
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 |
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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 |
|
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 : AL KHAT PACKAGING CO WLL
Country of Origin : Kuwait
Legal Form : With Limited Liability - WLL
Registration Date : 14th February 2001
Commercial Registration Number : 118238
Trade Licence Number : 11827
Chamber Membership Number : 68520
Issued Capital : KD 4,000,000
Paid up Capital : KD 4,000,000
Total Workforce : 250
Activities :
Manufacturers of packaging products,
boxes, paper bags and cup
holders.
Financial Condition : Fair
Payments : No Complaints
Operating Trend : Steady
Person Interviewed : Ahmed Omrah, Chief Accountant
AL KHAT PACKAGING CO WLL
Registered &
Physical Address
Location : Shuaiba Industrial Area
PO Box : 10183
Town : Shuaiba 65452
Country : Kuwait
Telephone : (965) 24735558 / 23260832 / 23260819
/ 1822000 / 23260918 / 23260869 / 23263898
Facsimile : (965) 24738323 / 23260934 / 23260802 /
23260819
Mobile : (965) 67058531
Email : samerspa@alkhatpackaging.com
Premises
Subject operates from
a large suite of offices and a factory that are rented and located in the
Industrial Area of Shuaiba.
Name Position
·
Bayoumi
Fathi Bayoumi Mohamed Managing
Director
·
Hamed
Rashid Abdulrahman Al Bassam Director
·
Saqr Ahmed
Saqr Al Maousherji Director
·
Mohamed
Saqr Saad Al Maousherji Director
·
Mohamed
Hassan Mahmoud Mohamed Director
·
Mohamed
Abu Khalid Al Maousherji Director
·
Thamer
Al Hassan General
Manager
·
Emad
Farooq Finance
Manager
·
Ahmed Omrah Chief
Accountant
·
Gamal Saeed Sales
Manager
Date of Establishment : 14th
February 2001
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 118238
Trade Licence No. : 11827
Chamber Member No. : 68520
Issued Capital : KD 4,000,000
Paid up Capital : KD 4,000,000
Name of
Shareholder (s)
·
Bayoumi
Fathi Bayoumi Mohamed
·
Hamed
Rashid Abdulrahman Al Bassam
·
Saqr
Ahmed Saqr Al Maousherji
·
Mohamed
Saqr Saad Al Maousherji
·
Mohamed
Hassan Mahmoud Mohamed
·
Mohamed
Abu Khalid Al Maousherji
·
Al Khat
Web Printing Co WLL
·
Al
Maousherji Catering Co
·
Arabi
Holding Group
·
Arabi
Company
·
Arabi
Enertech Company
·
Arabi
Agricultural Company
·
Arabi
Gulf Services
·
Arabi
Industrial Services & Supplies Company
·
Gulf
Paper Manufacturing Co
·
Al Khat
Printing Press
·
Warba
Group
·
Al
Maousherji Economic Newspaper
·
Saudi
Nourgeh
·
Al
Farabi Investment Company
·
Rawdah
Paper Bag Manufacturing Company
·
Al
Maousherji Motors
Activities: Engaged in the manufacture of packaging products, boxes, paper bags and
cup holders.
Import
Countries: China, Thailand
and Saudi Arabia.
International
Suppliers:
·
Ningbo Free Trade Zone China
·
Moha International Thailand
·
Obeikan Paper Industries Saudi Arabia
·
Abu Dawood Industries Co Saudi Arabia
Operating Trend: Steady
Subject has a
workforce of approximately 250 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 7,100,000 KD 7,630,000
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
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
UK Pound |
1 |
Rs.93.18 |
|
Euro |
1 |
Rs.69.82 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
-- |
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.