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Report No. : |
341438 |
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Report Date : |
19.09.2015 |
IDENTIFICATION DETAILS
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Name : |
TANZIFCO COMPANY
WLL |
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Registered Office : |
Street No. 101,
Plot 10, Sabhan Industrial Area (North), P O Box: 326, Safat 13004 |
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Country : |
Kuwait |
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Date of Incorporation : |
27.02.1960 |
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Com. Reg. No.: |
74113 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Subject is
engaged as industrial cleaning, garbage collection and waste disposal
contractors. Subject’s activities include janitorial services, housekeeping,
façade cleaning, natural stone treatment, municipal waste, construction
debris and hazardous waste. |
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No. of Employees : |
12,000 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 : TANZIFCO
COMPANY WLL
Country of Origin : Kuwait
Legal Form : With
Limited Liability - WLL
Registration Date : 27th
February 1960
Commercial
Registration Number : 74113
Chamber Membership
Number : 467
Issued Capital : KD
5,000,000
Paid up Capital : KD
5,000,000
Total Workforce : 12,000
Activities :
Industrial cleaning, garbage collection and waste disposal contractors
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Dani Samaan, Marketing
Manager
TANZIFCO COMPANY
WLL
Street : Street No. 101
Area : Plot 10, Sabhan Industrial
Area (North)
PO Box : 326
Town : Safat 13004
Country : Kuwait
Telephone : (965) 22452175/6 / 22426301/2 /
22410472 / 24758736 / 24766093 / 24719080 / 24723958
Facsimile : (965) 24269749 / 22423780 / 22478751
Email : tanzifco@tanzifco.com
Subject operates
from a large suite of offices that are rented and located in the Industrial
Area of Safat.
Name Position
·
Abdulrahman
Mostafa Alyan Managing
Director
·
Ahmed
Mostafa Alyan Director
·
Saleh
Mostafa Alyan Director
·
Mohamed
Mostafa Alyan Director
·
Osama
Mohamed Mala Hussain Al Terkeet Director
·
Zahra Abdulrahman
Badkash Director
·
Dani
Samaan Marketing
Manager
·
Mahmoud
Shama Finance
Manager
Date of Establishment : 27th
February 1960
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 74113
Chamber Member No. : 467
Issued Capital : KD 5,000,000
Paid up Capital : KD 5,000,000
·
Abdulrahman
Mostafa Alyan
·
Ahmed
Mostafa Alyan
·
Saleh
Mostafa Alyan
·
Mohamed
Mostafa Alyan
·
Osama
Mohamed Mala Hussain Al Terkeet
·
Zahra Abdulrahman
Badkash
·
Tanzifco
Emirates LLC
Dubai
United Arab Emirates
Tel: (971-4) 2859612
Fax: (971-4) 2859615
·
Tanzifco
Emirates LLC
Abu Dhabi
United Arab Emirates
Tel: (971-2) 5555258
Fax: (971-2) 5555259
·
Tanzifco
International Co SAE
Egypt
Tel: (20-62) 3462112
Fax: (20-62) 3462111
·
Tanzifco
Bahrain SPC
Bahrain
Tel: (973-17) 533783
Fax: (973-17) 533784
·
Tanzifco
Company WLL
Doha
Qatar
Tel: (974) 0054444
Fax: (974) 0054447
Activities: Engaged as industrial cleaning, garbage
collection and waste disposal contractors. Subject’s activities
include janitorial services,
housekeeping, façade cleaning, natural stone treatment, municipal waste,
construction debris and
hazardous waste.
Subject has a workforce
of approximately 12,000 employees.
Companies
registered in Kuwait are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
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.65.93 |
|
|
1 |
Rs.102.75 |
|
Euro |
1 |
Rs.75.13 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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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 |
|
|
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.