MIRA INFORM
REPORT
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Report Date : |
03.06.2011 |
IDENTIFICATION DETAILS
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Name : |
SMART ARABIA EST |
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Registered Office : |
13th
Cross, King Khaled Street, P O Box
79704, Al Khobar 31952 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
28.04.2007 |
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Com. Reg. No.: |
2051034438, Al Khobar |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject operates through several divisions Industrial Division, Logistics Division, Manpower Division, Networks Division, General Trading Division |
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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Maximum Credit Limit : |
US$ 200,000 |
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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 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Saudi Arabia |
a2 |
a2 |
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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 |
Bottom of Form
SUMMARY
Company Name : SMART ARABIA EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 28th April 2007
Commercial Registration Number : 2051034438, Al Khobar
Chamber Membership Number : 84644
Invested Capital : SR 500,000
Total Workforce : 40
Activities : Subject operates several divisions (see below for details)
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 200,000
Person Interviewed : Mohamed Javed, Business Development Manager
COMPANY NAME
SMART ARABIA EST
company ADDRESS
Registered & Physical Address
Location : 13th Cross,
King Khaled Street
PO Box : 79704
Town :
Al Khobar 31952
Country : Saudi Arabia
Telephone : (966-3) 8676743
Facsimile : (966-3) 8672319
Mobile : (966-55) 3236072
Email : javed@smart-arabia.com / sikander@smart-arabia.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Central Business Area of Al Khobar.
KEY PRINCIPALS
Name Position
·
Naif
Ahmed Saad Al Mahrafi Proprietor
& General Manager
·
Mohamed
Javed Business
Development Manager
·
Mansour
Ali Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 11/04/1428
Hijri (corresponding to 28th April 2007)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 2051034438,
Al Khobar
Chamber Member No. : 84644
Invested Capital
: SR 500,000
Mr Naif Ahmed Saad
Al Mahrafi is the sole proprietor of the business.
OPERATIONS
Activities: Subject’s operations are performed through the
following divisions:
·
Industrial Division
Heavy equipment rental, hardware,
building materials, civil construction works.
·
Logistics Division
Smart Arabia provides freight forwarding customs
clearance, international services, ship agent’s liner representation, air
freight services, including pick-up, warehouse storage, packaging and delivery
to customer’s door.
·
Manpower Division
Civil engineers, civil draftsman, mechanical engineers, mechanical
draftsman, electrical engineers, IT engineers, instrumentation engineers, HVAC
engineers, senior safety engineers, safety officers, office administrators,
office secretaries, skilled and unskilled labour.
·
Networks Division
Providing its services in this
integrated solution using the products and services in the IT market. HP,
CISCO, Sun Micro Systems, Oracle, Microsoft, and many others. Smart Arabia
Networks Group company is engaged in various IT services consultancy Employs
over 10 qualified Professionals. Smart Arabia Networks is an evolving company
of its kind in Saudi Arabia, providing its customers with the latest in
computer, networking and communication technology and IT solutions. Offering
customers superior quality products and excellent service. Smart Arabia
Networks markets a diversity and cutting-edge technologies of mainframe
computers, mini-computers, personal computers, notebooks, peripherals,
software, telecommunication and data communication products, as well as a wide
range of computer furniture, accessories and supplies.
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General Trading Division
Import and distribution of cosmetics, beauty products as well as
textiles and ready made garments.
Import
Countries:
Clients:
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Mitsubishi
Heavy Industries
·
Mitsubishi
Corporation
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Technimont
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Tasnee
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Bonatti
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Samsung
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Mohammed
Al-Mojil Group
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Al Yusr
Townsend & Bottum Co Ltd
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Olayan
Descon Industrial Co Limited
·
Al
Qarayyan
·
Eastern
Saudi Cement Company
Subject has a
workforce of 40 employees.
FINANCIAL DATA
Companies
registered in Saudi Arabia are not legally required to make their accounts
public and no financial information was released by the company or submitted by
outside sources.
BANKERS
·
National
Commercial Bank
PO Box: 1
Al Khobar 31952
Tel: (966-3) 8949669
Fax: (966-3) 8646474
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.94 |
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UK Pound |
1 |
Rs.73.46 |
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Euro |
1 |
Rs.64.58 |
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 |
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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 |
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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.