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Report No. : |
327024 |
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Report Date : |
24.06.2015 |
IDENTIFICATION DETAILS
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Name : |
AGRICULTURAL
SUPPLIES & FOODSTUFF CO WLL |
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Registered Office : |
Shuwaikh Industrial Area, P O Box: 42335, Shuwaikh 70654 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
10.04.1978 |
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Com. Reg. No.: |
26338 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Import and
Distributors of Agricultural Products, Poultry, Eggs and Animal Feed. |
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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) |
|
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 :
AGRICULTURAL SUPPLIES & FOODSTUFF CO WLL
Country of Origin : Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date : 10th
April 1978
Commercial
Registration Number : 26338
Chamber Membership
Number : 6968
Issued Capital : KD
200,000
Paid up Capital : KD
200,000
Total Workforce : 25
Activities :
Distributors of agricultural products, poultry, eggs and animal feed.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
AGRICULTURAL
SUPPLIES & FOODSTUFF CO WLL
Location : Shuwaikh Industrial Area
PO Box : 42335
Town : Shuwaikh 70654
Country : Kuwait
Telephone : (965) 24834998 / 24834999
Facsimile : (965) 24849380
Email : naifpoul@hotmail.com
Subject operates
from a medium sized suite of offices that are rented and located in the Industrial
Area of Shuwaikh.
Name Position
·
Bader
Bazie Al Yaseen Managing
Director
·
Yaseen
Khalid Yaseen Muhalal Al Yaseen Director
·
Fekri
Allam Finance
Manager
·
Yousef
Zeidan Sales
Manager
Date of Establishment : 10th
April 1978
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 26338
Chamber Member No. : 6968
Issued Capital : KD 200,000
Paid up Capital : KD 200,000
·
Bader
Bazie Al Yaseen
·
Yaseen
Khalid Yaseen Muhalal Al Yaseen
Activities: Engaged in the import and distribution of
agricultural products, poultry, eggs and animal feed.
Import
Countries: Europe and the
Far East
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 1,600,000 KD 1,780,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Kuwait
Finance House (KFH)
Safat Square
Abdullah Al Mubarak Street
PO Box: 24989
Safat 13110
Tel: (965) 22445050
Fax: (965) 22455135
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 company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.64 |
|
|
1 |
Rs.100.41 |
|
Euro |
1 |
Rs.71.63 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
NIT |
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.