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Report No. : |
327770 |
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Report Date : |
24.06.2015 |
IDENTIFICATION DETAILS
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Name : |
ATLAS LIBRARY |
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Registered Office : |
Al Sagabi Complex, Kutaiba
Street, Al Nuqra Area, PO Box 43835, Hawalli 32053 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
16.03.1989 |
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Com. Reg. No.: |
8135 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import and distribution of stationery and books. |
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No. of Employees : |
30 |
RATING & COMMENTS
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Kuwait |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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.
|
Source
: CIA |
Company Name :
ATLAS LIBRARY
Country of Origin :
Kuwait
Legal Form :
Sole Proprietorship
Registration Date :
16th March 1989
Commercial Registration Number :
8135
Trade Licence Number :
996/89
Chamber Membership Number :
11808
Invested Capital :
KD 60,000
Total Workforce :
30
Activities :
Distributors of stationery and books.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Loay Mashoor Sarhan, Sales Manager
ATLAS LIBRARY
Registered &
Physical Address
Building : Al Sagabi Complex
Street : Kutaiba
Street
Area : Al Nuqra
Area
PO Box : 43835
Town : Hawalli 32053
Country : Kuwait
Telephone : (965) 22661259
/ 22619259
Facsimile : (965) 22619259
Mobile : (965)
60005555
Email : loai@atlaslibrary.net
Please note that subject’s previous address was, Al Nahar Complex,
Kutaiba Street, Al Nuqra Area, Hawalli
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Hawalli.
Name Position
Abdulrahman Fahd Abdullaj Al Nuqaidan Proprietor
& General Manager
Mishal Fahd Abdullaj Al Nuqaidan Assistant
General Manager
Loay Mashoor Sarhan Sales
Manager
Date of Establishment : 16th
March 1989
Legal Form : Sole Proprietorship
Commercial Reg. No. : 8135
Trade Licence No. : 996/89
Chamber Member No. : 11808
Invested Capital : KD 60,000
Mr Abdulrahman Fahd Abdullaj Al Nuqaidan is the sole proprietor of the
business.
Activities: Engaged in the import and distribution of stationery and books.
Import Countries: Taiwan and China
International
Suppliers:
Max Pero Taiwan
Sona Trust Taiwan
Operating Trend: Steady
Subject has a workforce of 30 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 Sales KD 1,630,000 KD 1,800,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Loay Mashoor Sarhan, Sales Manager
Commercial Bank of Kuwait SAK
Hawalli
Tel: (965) 22645964
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
|
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
: |
KAR |
|
|
|
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Report Prepared
by : |
TPT |
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 |
|
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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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
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.