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Report No. : |
340607 |
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Report Date : |
15.09.2015 |
IDENTIFICATION DETAILS
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Name : |
AL KHAMSAN AND BHASIN GENERAL TRADING CO WLL |
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Registered Office : |
Al Nasf Complex Souq Al Hareem, Al Qibla Area, PO Box : 37, Jahra
01002 |
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Country : |
Kuwait |
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Date of Incorporation : |
20.09.1994 |
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Com. Reg. No.: |
323445 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Subject is engaged in the wholesale and retail of ladies and
children’s readymade garments |
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No. of Employee : |
10 |
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.
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Source
: CIA |
Company Name :
AL KHAMSAN AND BHASIN GENERAL TRADING CO WLL
Country of Origin :
Kuwait
Legal Form :
With Limited Liability - WLL
Registration Date :
20th September 1994
Commercial Registration Number :
323445
Trade Licence Number :
5454/2007
Chamber Membership Number :
43419
Issued Capital :
KD 250,000
Paid up Capital :
KD 250,000
Total Workforce : 10
Activities :
Wholesalers and retailers of readymade garments
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
AL KHAMSAN AND
BHASIN GENERAL TRADING CO WLL
Building :
Al Nasf Complex
Area : Souq Al Hareem,
Al Qibla Area
PO Box : 37
Town : Jahra 01002
Country : Kuwait
Telephone : (965) 22457165
Facsimile : (965) 22457165
Mobile : (965)
55036352 / 99085404 / 94948213 /
550363222
Email :
sales@khamsanbhasin.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Jahra.
Branch Offices
Location Description
· Block No. 2 Warehouse
premises
Shuwaikh Industrial Area
Tel: (965) 24921201
Fax: (965) 24921202
Name Position
· Sodheer Bhasin Managing
Director
· Khamees Lafi
Khamsan Al Anzi Director
· Sanjay Bhasin Sales
Manager
· Mohamed Hussain Sales
Executive
Date of
Establishment : 20th
September 1994
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 323445
Trade Licence No. : 5454/2007
Chamber Member No. : 43419
Issued Capital : KD 250,000
Paid up Capital : KD 250,000
· Sodheer Bhasin
· Khamees Lafi
Khamsan Al Anzi
Activities: Engaged in the wholesale and retail of ladies and children’s readymade
garments.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 10 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
1,030,000 KD
1,175,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Commercial Bank of Kuwait SAK
Jahra
Tel:
(965) 24771777
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.66.37 |
|
|
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.75.32 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ASH |
RATING EXPLANATIONS
|
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 |
-- |
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.