|
Report No. : |
342516 |
|
Report Date : |
01.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
KUWAITI JARAH CO
FOR GENERAL TRADING & CONTRACTING WLL |
|
|
|
|
Registered Office : |
Plaza Tower, 1st Floor Tunis Street170, Al Jahra Hawalli |
|
|
|
|
Country : |
Kuwait |
|
|
|
|
Date of Incorporation : |
02.11.1996 |
|
|
|
|
Com. Reg. No.: |
67449 |
|
|
|
|
Legal Form : |
With Limited
Liability - WLL |
|
|
|
|
Line of Business : |
Subject’s
operations are performed through the following divisions: ·
Lighting Division Engaged as general electrical contractors, subject also wholesales electrical
and light fittings. ·
Dried Spice Division Engaged in the import and distribution of dried spices, including
pepper and turmeric powder. |
|
|
|
|
No. of Employee : |
34 |
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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
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 theFUND 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 :
KUWAITI JARAH CO FOR GENERAL TRADING & CONTRACTING WLL
Country of Origin : Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date : 2nd
November 1996
Commercial
Registration Number : 67449
Trade Licence
Number : 875/96
Chamber Membership
Number : 51243
Issued Capital : KD
150,000
Paid up Capital : KD
150,000
Total Workforce :
34
Activities :
Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
KUWAITI JARAH CO
FOR GENERAL TRADING & CONTRACTING WLL
Building : Plaza Tower, 1st Floor
Street : Tunis Street
PO Box : 170, Al Jahra
Town : Hawalli
Country : Kuwait
Telephone : (965) 22090460
Facsimile : (965) 22090460
Mobile : (965) 99826956 / 50557551
Email : alkuwaitih_jarco@yahoo.com
Please note that
subject’s previous address was, Al Jahra Area, Sharq.
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Industrial Area of Hawalli.
Name Position
·
Sulaiman
Saleh Al Salem Managing
Director
·
Ibrahim
Saleh Al Salem Director
·
Mussad
Faleh Sulaiman Al Salem Director
·
Fatima
Sulaiman Faleh Al Salem Director
·
Sheikh
Basha Khalil Hayman Saleb Director
·
George
Varghis Sales
Manager
Date of Establishment : 2nd
November 1996
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 67449
Trade Licence No. : 875/96
Chamber Member No. : 51243
Issued Capital : KD 150,000
Paid up Capital : KD 150,000
·
Sulaiman
Saleh Al Salem
·
Mussad
Faleh Sulaiman Al Salem
·
Fatima
Sulaiman Faleh Al Salem
·
Sheikh
Basha Khalil Hayman Saleb
Activities: Subject’s operations are performed through
the following divisions:
·
Lighting Division
Engaged as general electrical contractors,
subject also wholesales electrical and light fittings.
·
Dried Spice Division
Engaged in the import and
distribution of dried spices, including pepper and turmeric powder.
Import
Countries: India and the
United Arab Emirates.
International Suppliers:
·
D & G Masala Craft India
·
Joosub Peer Mohamed Co India
·
Sajjan Food Co United
Arab Emirates
Operating Trend: Steady
Subject has a
workforce of 34 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 6,125,000 KD 6,360,000
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
Main Branch
Jahra
Tel: (965) 24773123
Fax: (965) 24773124
No complaints
regarding subject’s payments have been reported.
Please note that the
correct name of the subject is “Kuwaiti Jarah Co for General Trading &
Contracting WLL” and not “Alkuwaitih Jar Co”.
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.65.74 |
|
|
1 |
Rs.99.53 |
|
Euro |
1 |
Rs.73.79 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.