|
Report No. : |
349083 |
|
Report Date : |
16.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
AL AHLEIA
SWITCHGEAR CO KSCC |
|
|
|
|
Registered Office : |
Plot No. 109, Block 3 Street No. 92Sabhan Industrial Area 25876 Safat 13119 |
|
|
|
|
Country : |
Kuwait |
|
|
|
|
Date of Incorporation : |
14.09.1982 |
|
|
|
|
Com. Reg. No.: |
33118, Safat |
|
|
|
|
Legal Form : |
Kuwaiti
Shareholding Company Closed – KSCC |
|
|
|
|
Line of Business : |
Engaged in the manufacture
of switchgear, ring main units, starter panels, current transformers, earth
switches, isolators and package substations. |
|
|
|
|
No. of Employee : |
2,000 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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 |
|
Restricted |
C2 |
|
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 AHLEIA
SWITCHGEAR CO KSCC
Country of Origin : Kuwait
Legal Form :
Kuwaiti Shareholding Company Closed – KSCC
Registration Date : 14th
September 1982
Commercial
Registration Number : 33118,
Safat
Trade Licence
Number : 10614
Chamber Membership
Number : 12486
Issued Capital : KD
20,000,000
Paid up Capital : KD
20,000,000
Total Workforce :
2,000
Activities :
Manufacture of switchgear, ring main units, starter panels, current
transformers, earth switches, isolators and
package substations.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Bilal Al
Soussi, Accounts Manager
AL AHLEIA
SWITCHGEAR CO KSCC
Location : Plot No. 109, Block 3
Street : Street No. 92
Area : Sabhan Industrial Area
PO Box : 25876
Town : Safat 13119
Country : Kuwait
Telephone : (965) 24762330 / 24762331 / 24742821
/ 24765853 / 24742340 / 1822600
Facsimile : (965) 24761963 / 24767341 / 66619661
Email : ahleia@ahleiasg.com
Please note that
subject’s previous address was, Plot No. 119, Block 3, Street No. 101, Sabhan
Industrial Area, Safat.
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Safat.
Branch Office
(s)
Location Description
·
Sabhan Industrial
Area, Block 3 Factory
premises
Street 101, Plot 119
Safat
·
Sabhan
Industrial Area, Block 6 Factory
premises
Street 62, Plot 81/82
Safat
·
Sabhan
Industrial Area, Block 9 Factory
premises
Street 92, Plot 148
Safat
·
Sabhan Industrial
Area, Block 8 Factory
premises
Street 84, Plot 181, 182 & 184
Safat
·
Amghara
Area, Block 3 Factory
premises
Plot No. 63, 65 & 67
Safat
Name Position
·
Abdul Jalil Qassim Hassan Boland Managing
Director
·
Masood
Ellahi Rana General
Manager
·
G E M
Pillai Assistant
General Manager
·
Mamoum
Mohamed Marbook Finance
Manager
·
D P Rao Production
Manager
·
Salah A
Marafi Sales
Manager
·
S W Cho Business
Development Manager
·
Bilal Al
Soussi Accounts
Manager
Date of Establishment : 14th
September 1982
Legal Form :
Kuwaiti Shareholding
Company Closed – KSCC
Commercial Reg. No. : 33118, Safat
Trade Licence No. : 10614
Chamber Member No. : 12486
Issued Capital : KD 20,000,000
Paid up Capital : KD 20,000,000
·
Fouad Sayed Hameed Behbahani
·
Nasserallah Sayed Hameed Behbahani
Activities: Engaged in the manufacture of switchgear,
ring main units, starter panels, current transformers, earth
switches, isolators and
package substations.
Subject also provides contracting services specialising in the supply,
installation, commissioning and maintenance of sub-stations and the
refurbishment of electrical equipment and-systems.
The company is currently involved in
projects for the Kuwait National Petroleum Co, Kuwait Oil Company and the
Ministry of Electricity & Water.
Subject was awarded the ISO 9001 certificate for the quality of its
products in 1995.
Company certified for ISO/TS 29001:2010
Quality Management System standard for Petroleum, Petrochemical and Natural Gas
Industries.
Company certified for ISO 14001:2004 Environmental Management System
standards.
Company certified for OHSAS 18001:2007 Occupational health and safety
assessment series.
Import
Countries: Europe, the Far
East and the United States of America
International
Suppliers:
·
Stromwandler Germany
·
EDMO
Distributors Inc United States of
America
Clients:
·
Ministry
Of Electricity & Water
·
Ministry
of Defence
·
Ministry
of Health
·
Ministry
of Information
·
Ministry
of Public Work
·
Kuwait
Port Authority
·
Director
General of Civil Aviation
·
Public
Authority of Housing Welfare
·
Kuwait
University
·
Kuwait
Oil Company
·
Kuwait National
Petroleum Company
·
Petrochemical
Industries Co
·
Kuwait
Aviation Fuelling Company
·
Chevron
·
Kuwait
Oil Tanker Co
·
Fluor
·
Amec
·
Worley
Parsons
·
Qatar
General Electricity & Water Corporation
·
Omar
Zawawi Establishment
·
Hyundai
Heavy Industries
·
Daelim
·
Snamprogetti
/ Saipem SpA
·
Petrofac
·
Tecnicas
Reunidas SA
·
Technip
·
Mitsubishi
·
Siemens
·
ABB
Brand Names: AL AHLEIA
Operating Trend: Steady
Subject has a
workforce of approximately 2,000 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 93,350,000 KD 55,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Bilal Al Soussi, Accounts Manager
·
Commercial
Bank of Kuwait SAK
Mubarak Al Kabir Street
PO Box: 2861
Safat 13029
Tel: (965) 22411001
Fax:
(965) 22450150
·
National
Bank of Kuwait SAK
Ali Awadi Tower
Ahmed Al Jaber Street
PO Box: 95
Safat 13001
Tel: (965) 23981188 / 23981189
Fax: (965) 23985643
·
Al Ahli
Bank of Kuwait KSC
Mubarak Al Kabir Street
PO Box: 1387
Safat 13033
Tel: (965) 22411101 / 22411102
·
The
Gulf Bank KSC
Mubarak Al Kabir Street
PO Box: 3200
Safat 13033
Tel: (965) 22449501
Fax: (965) 22445212
No complaints
regarding subject’s payments have been reported.
Established in
1982, subject is involved in the manufacture of switchgear, ring main units, starter
panels, current transformers, earth switches, isolators and package
substations.
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.66.14 |
|
|
1 |
Rs.100.55 |
|
Euro |
1 |
Rs.71.26 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
-- |
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.