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Report No. : |
333247 |
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Report Date : |
29.07.2015 |
IDENTIFICATION DETAILS
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Name : |
AL MUNTAZAR UNITED GENERAL TRADING CONTRACTING COMPANY WLL |
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Registered Office : |
Munira Hamad Building, 1st Floor, Office No. 3, Ali Al
Salim Street, Salihya, PO Box 22528, Safat 13086 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
02.01.2008 |
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Com. Reg. No.: |
324726 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Engaged in the provision of freight and cargo forwarding services,
including ocean freight, air freight, land transport, customs clearance,
packing, storage, warehousing, logistics services, specializing in transport
between Kuwait to Iraq. |
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No. of Employees : |
25 |
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 – 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 uncertain
political situation.
|
Source
: CIA |
Company Name :
AL MUNTAZAR UNITED GENERAL TRADING CONTRACTING
COMPANY WLL
Country of Origin :
Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date :
2nd January 2008
Commercial Registration Number :
324726
Chamber Membership Number :
112992
Issued Capital :
KD 220,000
Paid up Capital :
KD 220,000
Total Workforce : 25
Activities :
Providers of freight and cargo forwarding services.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
AL MUNTAZAR UNITED GENERAL TRADING CONTRACTING COMPANY WLL
Registered &
Physical Address
Building :
Munira Hamad Building, 1st Floor, Office No. 3
Street : Ali Al Salim
Street
Area : Salihya
PO Box : 22528
Town : Safat 13086
Country : Kuwait
Telephone : (965) 22470650
Facsimile : (965) 22470650
Mobile : (965)
90908057 / 66861434 / 65051111
Email : info@almuntazarunited.com
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Safat.
Name Position
Abrar Ali Ahmed Al Ibrahim Managing
Director
Amar Abood Abdulaziz Al Mansoor Director
Mohamed Al Ghareeb General
Manager
Date of Establishment : 2nd
January 2008
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 324726
Chamber Member No. : 112992
Issued Capital : KD 220,000
Paid up Capital : KD 220,000
Name of Shareholder (s)
Abrar Ali Ahmed Al Ibrahim
Amar Abood Abdulaziz Al Mansoor
Activities: Engaged in the provision of freight and cargo forwarding services,
including ocean freight, air freight, land transport, customs clearance, packing,
storage, warehousing, logistics services, specializing in transport between
Kuwait to Iraq.
Operating Trend: Steady
Subject has a workforce of 25 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
1,200,000 KD
1,285,000
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.
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
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.03 |
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|
1 |
Rs.99.72 |
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Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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.