MIRA
INFORM REPORT
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Report Date : |
05.03.2010 |
IDENTIFICATION DETAILS
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Name : |
SAUDI OGER LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
01.06.1978 |
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Com. Reg. No.: |
1010014578, |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject operates several divisions
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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$ 3,500,000 |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 |
SUMMARY
Company Name :
SAUDI OGER LTD
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Partnership
Registration Date :
1st June 1978
Commercial Registration Number : 1010014578, Riyadh
Chamber Membership Number :
5566
Issued Capital :
SR 750,000,000
Paid up Capital :
SR 750,000,000
Total Workforce :
29,500
Activities :
Subject operates several divisions (see below for details)
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Recommended Credit Limit :
US$ 3,500,000
COMPANY NAME
SAUDI OGER LTD
company ADDRESS
Registered & Physical Address
Building :
Saudi Oger Building
Street :
Siteen Street
Area :
Malaz District
PO Box :
1449
Town :
Riyadh 11431
Country :
Saudi Arabia
Telephone :
(966-1) 4773115
Facsimile :
(966-1) 4770079
Email : info@saudioger.com
Premises
Subject operates from a large suite of offices that are
owned and located in the Central Business Area of Riyadh.
Branch Office (s)
Location Description
PO Box: 548 Sales
Office
Dammam 31932
Tel: (966-3) 8680200
Fax: (966-3) 8680145
PO Box: 708 Sales
Office
Abha
Tel: (966-7) 2243127
Fax: (966-7) 2245673
PO Box: 1956 Sales
Office
Al Gassim
Tel: (966-6) 3817374
PO Box: 1250 Sales
Office
Taif
Tel: (966-2) 7364963
Fax: (966-2) 7325271
PO Box: 2783 Sales
Office
Makkah
Tel: (966-2) 5738903
Fax: (966-2) 5730582
PO Box: 10124 Sales
Office
Jeddah
Tel: (966-2) 6940300
Fax: (966-2) 6990127
PO Box: 3703 Sales
Office
Madinah
Tel: (966-4) 8474710
Fax: (966-4) 8471638
PO Box: 1806 Sales
Office
Hail
Tel: (966-6) 5321280
Fax: (966-6) 5326645
KEY PRINCIPALS
Name Position
Saad Rafic Al Hariri Managing
Partner
Baha Rafic Al Hariri Partner
Ayman Rafic Al Hariri Partner
Fahd Rafic Al Hariri Partner
Ahmed Maghrahbi Finance
Manager
Bilal Fayad Administration
Manager
Fareed Shaker Operations
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st June 1978
Legal Form : Limited Liability Partnership
Commercial Reg. No. : 1010014578, Riyadh
Chamber Member No. : 5566
Issued Capital : SR 750,000,000
Paid up Capital : SR 750,000,000
Name
of Partner (s)
Saad Rafic Al Hariri
Baha Rafic Al Hariri
Ayman Rafic Al Hariri
Fahd Rafic Al Hariri
Members of the Al Hariri family including the late Rafik
Hariri’s wife and daughters
AFFILIATED COMPANIES
Oger Liban Sal
Oger Liban Building
Corniche Mazraa
PO Box: 145864
Beirut
Lebanon
Tel: (961-1) 806085/89
Saudi Oger Emirates Limited
PO Box: 35656
Abu Dhabi
United Arab Emirates
Tel: (971-2) 6815252
Fax: (971-2) 6813233
Saudi Oger Morocco
185 Boulevard Zerltouni
Casablanca
Morocco
Tel: (212-2) 253735 / 253159
Oger UK Limited
114a Cromwell Road
London SW7 4ES
United Kingdom
Tel: (44-171) 2448666
Fax: (44-171) 2448407
Hariri Interests
7501 Wisconsin Avenue, Suite 720
Bethesda
MD 20814
United States of America
Tel: (1-301) 6524682
Fax: (1-301) 6524686
Oger Abu Dhabi
Abu Dhabi
United Arab Emirates
Oger Dubai
Dubai
United Arab Emirates
Medgulf
Beirut
Lebanon
Fradim
France
Omnia Holding
Saudi Arabia
Sheraton Riyadh
Riyadh
Saudi Arabia
Oger Systems
Riyadh
Saudi Arabia
Viralex Investment NV
United States of America
Saudi Oger Services (SOS) Swiss
Geneva
Switzerland
Saudi Oger Training Institute
Riyadh
Saudi Arabia
OPERATIONS
Activities:
Subject’s operations are performed through the following divisions:
General Projects Construction Division (GPCD)
The General Projects Construction Division (GPCD) undertakes
a wide variety of major projects in the competitive market of construction and
infrastructure in the Kingdom of Saudi Arabia and abroad. The scope of
activities includes the preparation of bid proposals, design, execution and
handover of the contracted projects, preparation of bid proposals.
Private Projects Construction Division (PPCD)
PPCD is involved in the design, construction, operation and
management of many prestigious and technically advanced building projects. PPCD
undertakes projects in prestigious facilities such as palaces and government
complexes for which the most stringent controls and the highest levels of
quality must be attained in order to meet the high degree of client
specifications. More than 500 projects have been successfully executed and
handed over since January 1977
General Projects Maintenance Division
The General Projects Maintenance Division (GPMD) undertakes
operations and maintenance of diversified facilities such as Airports, Public
Utilities, Hospitals and Industrial Complexes.
Private Projects Maintenance Division
Private Projects Maintenance Division PPMD undertakes
operations and maintenance of prestigious facilities such as palaces and
government complexes in Saudi Arabia and abroad
Holy Quran Printing Division
The main role of the Holy Quran Printing Division is the
operation and maintenance of King Fahad Holy Quran Printing Complex in
Al-Medina city for the production of the highest quality editions of the Holy
Quran. Since 1984, more than 164 Million copies in 30 different languages have
been printed and distributed throughout the world.
Corporate Business Development Division
The main role of the Corporate Business Development Division
(CBDD) is to identify and develop potential business opportunities in the
Construction, Operation & Maintenance, Utilities, Industrial and
Telecommunications sectors, in the domestic, regional and international
markets.
Subject has a workforce of approximately 29,500 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
Al Bank Al Saudi Al Fransi
Mather Road
PO Box: 56006
Riyadh 11554
Tel: (966-1) 4042222
Fax: (966-1) 4042311
National Commercial Bank
Airport Road
PO Box: 2800
Riyadh 11461
Tel: (966-1) 4772281
Fax: (966-1) 4730322
Al Rajhi Banking & Investment Corporation
PO Box: 28
Riyadh 11411
Tel: (966-1) 4054647 / 4054244
Fax: (966-1) 4044753 / 4052950 / 4037156
Arab National Bank (ANB)
King Faisal Street
North Morabbaa
PO Box: 56921
Riyadh 11564
Tel: (966-1) 4029000
Fax: (966-1) 4027747
PAYMENT HISTORY
No complaints regarding subject’s payments have been
reported.
Date
of transaction June
2005
Credit amount 418,000
Amount overdue 0
Payment terms 120
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
GENERAL COMMENTS
Saudi Oger Ltd was established in 1978 and is a leading
Saudi business engaged in the provision of construction, operation and
maintenance services. The company is run in a professional manner and is owned
by members of the wealthy and prominent Rafik Hariri family.
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
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Indian Rupees |
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US Dollar |
1 |
Rs.44.99 |
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1 |
Rs.73.23 |
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Euro |
1 |
Rs.62.80 |
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.