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Report No. : |
345780 |
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Report Date : |
03.11.2015 |
IDENTIFICATION DETAILS
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Name : |
AL YOUSIFI
ENGINEERING & CONSTRUCTION CO WLL |
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Registered Office : |
Block No. A1, Office
No.12, Shuaiba Industrial Area, P PO Box: 126, Safat 13002 |
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Country : |
Kuwait |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
18.10.2011 |
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Com. Reg. No.: |
339742 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Subjects
operations are performed through the following divisions: ·
Civil
& Structural Contracting Division Engaged in the provision of civil and structural contractors ·
Heavy
Engineering & Fabrication Division Engaged in
the design, engineering, procurement, fabrication, construction and
installation of process skids, piping, steel structures and heavy equipment ·
MEP
& HVAC Engaged in
the provision of heating, ventilation and air conditioning installation ·
Site
Preparation, Mobilization, Prefab Buildings Temporary Structures Engaged in
the design and fabrication of all types of portable living units ·
Aluminium
Fabrication Engaged in
the fabrication aluminium products ·
Trading
Division Engaged in the
import and distribution of military and commercial supplies. |
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No. of Employees : |
150 |
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 uncertain
political situation.
|
Source
: CIA |
Company Name : AL YOUSIFI ENGINEERING &
CONSTRUCTION CO WLL
Country of Origin : Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date : 18th
October 2011
Commercial Registration
Number : 339742
Chamber Membership
Number : 129964
Issued Capital : KD
1,000,000
Paid up Capital : KD
1,000,000
Total Workforce : 150
Activities :
Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
AL YOUSIFI
ENGINEERING & CONSTRUCTION CO WLL
Building : Block No. A1, Office
No.12
Area : Shuaiba Industrial Area
PO Box : 126
Town : Safat 13002
Country : Kuwait
Telephone : (965) 23261646 / 23261647 / 23261648
Facsimile : (965) 23261648
Email : ec@alyousifi-epc.com
Subject operates from
a large suite of offices that are rented and located in the Industrial Area of
Safat.
Name Nationality Position
·
George
Varghese Indian Managing
Director
·
Adel
Essa Hussain Al Yousifi Kuwaiti Director
·
Varghese
Joseph - Financial
Controller
·
Venu R - Safety
Officer
Date of Establishment : 18th
October 2011
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 339742
Chamber Member No. : 129964
Issued Capital : KD 1,000,000
Paid up Capital : KD 1,000,000
·
George
Varghese
·
Adel
Essa Hussain Al Yousifi
·
Al
Yousifi General Trading & Contracting Co WLL
Cross 4th Ring Road
Al Ghazali Street
Al Shuwaikh Industrial Area
PO Box: 126
Safat 13002
Tel: (965) 24843492 / 24843523 / 24843568
Fax: (965) 24840847
Email: yousifi@qualitynet.net
·
National
Exhibition for Electrics & Electronic Appliances
PO Box: 126
Safat 13002
Tel: (965) 22417666
Fax: (965) 22457277
·
Al
Yousifi Tourism & Travels
PO
Box: 126
Safat 13002
Tel: (965) 22406373
Fax: (965) 22406374
·
Essa
Hussain Al Yousifi Watches Est
PO Box: 126
Safat 13002
Tel: (965) 24835155
Fax: (965) 24835155
·
Apple
Graphics for Advertising & Publicity
PO Box: 126
Safat 13002
Tel: (965) 24817776
Fax: (965) 24840271
·
Al
Yousifi Sanitary Equipment
PO Box: 126
Safat 13002
Tel: (965) 22666535
Fax: (965) 22666535
·
Essa H
Yousifi Electrical Est
PO Box: 126
Safat 13002
Tel: (965) 24820517
Fax: (965) 24841382
·
Al
Yousifi Jewellery
PO Box: 126
Safat 13002
Tel: (965) 24820361
Fax: (965) 24820517
·
Easa
Hussain Al Yousifi and Sons General Trading and Contracting WLL
Al Yousifi Building
Abdullah Al Salem Street
Ardiya
Industrial Estate
PO Box: 126
Safat 13002
Tel: (965) 24835144 / 24841382 / 24841382 / 1802929 / 1802828
Fax: (965) 22457277 / 24842140
Activities: Subjects operations are performed through
the following divisions:
·
Civil
& Structural Contracting Division
Engaged in the provision of civil and
structural contractors
·
Heavy
Engineering & Fabrication Division
Engaged in the design, engineering, procurement,
fabrication, construction and installation of process skids, piping, steel
structures and heavy equipment
·
MEP
& HVAC
Engaged in the provision of heating, ventilation and
air conditioning installation
·
Site
Preparation, Mobilization, Prefab Buildings Temporary Structures
Engaged in the design and fabrication of all types of
portable living units
·
Aluminium
Fabrication
Engaged in the fabrication aluminium products
·
Trading
Division
Engaged in the import and distribution of military and commercial
supplies.
Local Clients:
·
KOC
·
KGOC
·
Military
·
Kuwait
Ministries
·
KNPC
Operating Trend: Steady
Subject has a
workforce of 150 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 4,270,000 KD
4,400,000
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.45 |
|
|
1 |
Rs.101.06 |
|
Euro |
1 |
Rs.72.22 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
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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.