MIRA INFORM REPORT

 

 

Report Date :

05.12.2012

 

IDENTIFICATION DETAILS

 

Name :

QIMAT UL AITIZAZ TRADING EST

 

 

Registered Office :

Ali Ibn Taleb Street, Al Malaz District, P O Box 33577, Riyadh 11458

 

 

Country :

Saudi Arabia 

 

 

Date of Incorporation :

04.01.2011

 

 

Com. Reg. No.:

1010297418, Riyadh

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Distributors of general foodstuff products

 

 

No. of Employees :

04 employees

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Saudi Arabia 

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Saudi Arabia  - ECONOMIC OVERVIEW

 

Saudi Arabia has an oil-based economy with strong government controls over major economic activities. It possesses about one-fifth of the world's proven petroleum reserves, ranks as the largest exporter of petroleum, and plays a leading role in OPEC. The petroleum sector accounts for roughly 80% of budget revenues, 45% of GDP, and 90% of export earnings. Saudi Arabia is encouraging the growth of the private sector in order to diversify its economy and to employ more Saudi nationals. Diversification efforts are focusing on power generation, telecommunications, natural gas exploration, and petrochemical sectors. Almost 6 million foreign workers play an important role in the Saudi economy, particularly in the oil and service sectors, while Riyadh is struggling to reduce unemployment among its own nationals. Saudi officials are particularly focused on employing its large youth population, which generally lacks the education and technical skills the private sector needs. Riyadh has substantially boosted spending on job training and education, most recently with the opening of the King Abdallah University of Science and Technology - Saudi Arabia''s first co-educational university. As part of its effort to attract foreign investment, Saudi Arabia acceded to the WTO in December 2005 after many years of negotiations. The government has begun establishing six "economic cities" in different regions of the country to promote foreign investment and plans to spend $373 billion between 2010 and 2014 on social development and infrastructure projects to advance Saudi Arabia''s economic development.

                                                                          

Source : CIA

 

 

 

SUMMARY

 

Company Name                         : QIMAT UL AITIZAZ TRADING EST

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 4th January 2011

Commercial Registration Number            : 1010297418, Riyadh

Chamber Membership Number                : 24368

Invested Capital                         : SR 50,000

Total Workforce                         : 4

Activities                                               : Distributors of general foodstuff products.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

 

COMPANY NAME

 

QIMAT UL AITIZAZ TRADING EST

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Ali Ibn Taleb Street

Area                 : Al Malaz District

PO Box             : 33577

Town                 : Riyadh 11458

Country : Saudi Arabia

Telephone         : (966-1) 47731356

Facsimile          : (966-1) 4776858

Mobile               : (966-50) 5114847

 

Premises

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Riyadh.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

·       Abdul Hadi Faleh Sarie Al Qahtani                                                      Proprietor & General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment: 4th January 2011

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 1010297418, Riyadh

 

Chamber Member No.: 24368

 

Invested Capital           : SR 50,000

 

Mr Abdul Hadi Faleh Sarie Al Qahtani is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of general foodstuff products.

 

Subject has a workforce of 4 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

Malaz Branch

PO Box: 42536

Riyadh 11551

Tel: (966-1) 4776450

Fax: (966-1) 4769502

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Please note that we were unable to contact the subject directly during our investigation.

 

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

Indian Rupees

US Dollar

1

Rs.54.95

UK Pound

1

Rs.88.42

Euro

1

Rs.71.71

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.