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Report No. : |
330647 |
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Report Date : |
08.07.2015 |
IDENTIFICATION DETAILS
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Name : |
DAN ESTABLISHMENT IMPORT & EXPORT |
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Registered Office : |
Sheihka Complex, Plot No. 25, Hawalli, 557, Qurtuba 73756 |
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Country : |
Kuwait |
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Date of Incorporation : |
28.04.2014 |
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Com. Reg. No.: |
111786 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged in the import and distribution of general fresh and
dried foodstuffs |
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No. of Employee : |
03 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New business |
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Payment Behaviour : |
Unknown |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Kuwait |
A1 |
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. Kuwaiti officials plan to increase oil production to 4
million barrels per day by 2020. Petroleum accounts for over half of GDP, 94%
of export revenues, and 89% of government income. For the last decade, high oil
prices have generated budget surpluses despite increasing budget expenditures,
particularly on wage hikes for public sector employees. Despite Kuwait’s
dependence on oil, the government has cushioned itself against the impact of
lower oil prices by continuous saving of at least 10% of government revenue in
the Fund for Future Generations. Kuwait has done little to diversify its
economy, in part, due to a poor business climate and an acrimonious
relationship between the National Assembly and the executive branch that has
stymied most economic reforms. In 2010, Kuwait passed its first long-term
economic development plan in almost twenty-five years. While the government
planned to spend up $104 billion over four years to diversify the economy away
from oil, attract more investment, and boost private sector participation in
the economy, many of the projects did not materialize because of the tenuous
political situation.
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Source
: CIA |
Company Name :
DAN ESTABLISHMENT IMPORT & EXPORT
Country of Origin :
Kuwait
Legal Form :
Sole Proprietorship
Registration Date :
28th April 2014
Commercial Registration Number :
111786
Chamber Membership Number :
143939
Invested Capital : KD 30,000
Total Workforce :
3
Activities :
Distributors of general fresh and dried foodstuffs.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
DAN ESTABLISHMENT
IMPORT & EXPORT
Building : Sheihka
Complex, Plot No. 25
Area : Hawalli
PO Box : 557
Town : Qurtuba 73756
Country : Kuwait
Mobile : (965)
99588241 / 94438500
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Qurtuba.
Name Position
· Mohamed Sultan
Mohamed Al Salem Proprietor
& General Manager
Date of
Establishment : 28th
April 2014
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 111786
Chamber Member No. : 143939
Invested Capital : KD 30,000
Mr Mohamed Sultan Mohamed Al Salem is the sole proprietor of the
business.
Activities: Engaged in the import and distribution of general fresh and dried
foodstuffs.
Import Countries: Europe and the Far East.
Subject has a workforce of 3 employees.
Subject is a newly formed business and as a result financial information
is not currently available.
·
Kuwait Finance House
South
Surra Branch
No complaints regarding subject’s payments have been reported.
In view of subject’s infancy, extensive payment and financial are not
available, therefore dealings are recommended to be on secured terms, and a
close monitoring of subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.63.37 |
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|
1 |
Rs.98.86 |
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Euro |
1 |
Rs.69.97 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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Report Prepared
by : |
ASH |
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 |
|
-- |
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.