MIRA INFORM REPORT

Report No. :	346027
Report Date :	24.10.2015

IDENTIFICATION DETAILS

Name :	NOURAS AL BAHAR GENERAL TRADING CO WLL
Formerly Known As :	NOURAS AL BAHAR CARPENTRY & BUILDING MATERIALS CO WLL
Registered Office :	Street No. 18, Khalifa Al Jassim Street Shuwaikh Industrial Area Sabahiya 54575
Country :	Kuwait
Date of Incorporation :	25.08.1997
Com. Reg. No.:	70245
Legal Form :	With Limited Liability - WLL
Line of Business :	Distributors of pipes, fittings and safety equipment for gas and oilfield industry
No. of Employee :	30

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

IDENTIFICATION & CONTACT DETAILS
1) Name (s):
Organization Official Name		:	NOURAS AL BAHAR GENERAL TRADING CO WLL
Previously Known As		:	NOURAS AL BAHAR CARPENTRY & BUILDING MATERIALS CO WLL
2) Registered Address:
Address		:	Street No. 18, Khalifa Al Jassim Street Shuwaikh Industrial Area
Town		:	Sabahiya 54575
Country		:	Kuwait
PO Box		:	490
Phone (s)		:	(965) 23984312
			(965) 24829209
			(965) 24829311
			(965) 24829310
Facsimile		:	(965) 24829312
			(965) 23984625
Mobile			(965) 99719469
			(965) 99083174
Email		:	info@nouras4safety.com
			info@nourasalbahar.com
3) Operational Address & Contact Details:
Address		:	Street No. 18, Khalifa Al Jassim Street Shuwaikh Industrial Area
Town		:	Sabahiya 54575
Country		:	Kuwait
PO Box		:	490
Phone (s)		:	(965) 23984312
			(965) 24829209
			(965) 24829311
			(965) 24829310
Facsimile		:	(965) 24829312
			(965) 23984625
Mobile			(965) 99719469
			(965) 99083174
Email		:	info@nouras4safety.com
			info@nourasalbahar.com
LEGAL FORM & INCORPORATION (REGISTRATION) DETAILS
Legal Form - Category		:	With Limited Liability - WLL
Date of Registration		:	25th August 1997
Trade License Number		:	675/97
Commercial Registration Number		:	70245
History		:	Subject began in 1997 under the name “Nouras Al Bahar Carpentry & Building Materials Co WLL”. However on 1st May 2014 subject changed its name to “Nouras Al Bahar General Trading Co WLL”.
OTHER REGISTRATION/ MEMBERSHIPS
Chamber Membership Number		:	53879
KEY FACTS
Operational Status		:	Steady
Financial Condition		:	Fair
Primary Business Activity		:	Distributors of pipes, fittings and safety equipment for gas and oilfield industry (1)
Number of Employees		:	30
Capital		:	KD 1,000,000
Note: 1
Engaged in the import and distribution of pipes, fittings and safety equipment for the gas and oilfield industry. Subject is also engaged in the fabrication of metal and electrical products for the gas and oilfield industries
CAPITAL DETAILS
Issued Capital:
NO OF SHARES			VALUE OF SHARE		AMOUNT
N/A			N/A		KD 1,000,000
Paid Up Capital:
NO OF SHARES					AMOUNT
N/A			N/A		KD 1,000,000
FINANCIAL DATA
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 2,400,000		KD 2,775,000
Local sources consider subject’s financial condition to be Fair
The above figures were provided by Mr Eringer Raphael Jose, Director
BRANCH OFFICE
1	Address			Ahmadi Industrial Area Safat
	Tel			(965) 23984312
	Description			Warehouse premises
2	Address			Mina Abdullah Safat
	Description			Warehouse premises
BANKER
1	Name			Bank of Kuwait & the Middle East KSC
	Address			Abdullah Al Salem Street Darwaza Abdul Razzak
	PO Box			71 Safat 13001
	Tel			(965) 22459771
	Fax			(965) 22461430
SHAREHOLDERS
Sr.No	Name of Shareholders				Nationality
1	Ajoy Eringer Raphael				Indian
2	Eringer Raphael Jose				Indian
3	Hussain Abdullah Ahmed				Kuwaiti
SENIOR MANAGEMENT
Sr.No	Name			Nationality	Dsignation
1	Ajoy Eringer Raphael			Indian	Managing Director
2	Eringer Raphael Jose			Indian	Director
3	Hussain Abdullah Ahmed			Kuwaiti	Director
4	Alanoly Andrew Alexander			n/a	General Manager
5	Johny Paul			n/a	Assistant General Manager
6	Tinku Thomas			n/a	Financial Controller
INTERNATIONAL TRADE ACTIVITY MARKETS
Sr.No	Country			Activity
1	taly			Import
2	Sweden			Import
3	Spain			Import
4	Oman			Import
International Suppliers:
Sr.No	Name			Country
1	Metalfar			Italy
2	I M L SpA			Italy
3	Giasco			Italy
4	Sandvik			Sweden
5	Nohas Oman			Oman
6	Climax Safety Products			Spain
PREMISES
Subject operates from a medium sized suite of offices, a showroom and a warehouse that are rented and located in the Industrial Area of Sabahiya.
PAYMENT
No complaints regarding subject’s payments have been reported.
ADVERSE DATA
Performance Defaults		:	No record found
Payment Defaults		:	No record found
Adverse Press Coverage		:	No record found
Litigations		:	No record found
Former Business Relationships		:	No record found
INVESTIGATOR'S COMMENTS
Person Interviewed : Eringer Raphael Jose, Director
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.64.88
UK Pound	1	Rs.99.89
Euro	1	Rs.72.06

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.