|
Report Date : |
06.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
SULAIMAN EBRAHIM AL NAMLAH TRADING &
CONTRACTING EST |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
07.04.1977 |
|
|
|
|
Com. Reg. No.: |
4030011995,
Jeddah |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Subject’s
operations are performed through the following divisions l Foodstuff Division l Contracting Division |
|
|
|
|
No. of Employees : |
52 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
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 |
Company Name : SULAIMAN EBRAHIM AL NAMLAH TRADING & CONTRACTING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 7th April 1977
Commercial Registration Number : 4030011995, Jeddah
Chamber Membership Number : 5312
Invested Capital : SR 250,000
Total Workforce : 52
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
SULAIMAN EBRAHIM AL
NAMLAH TRADING & CONTRACTING EST
Registered &
Physical Address
Street : Palestine Street
Area : Mushrifah District
PO Box : 51300
Town : Jeddah 21542
Country : Saudi Arabia
Telephone : (966-2) 6837573 / 2875925
/ 2875850 / 2876826
Facsimile : (966-2) 2287592 / 6838109 / 67433697
Email : lb_tu@hotmail.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 Jeddah.
Branch Office (s)
Location Description
·
Khuraish Street Office
premises
Jeddah
Tel: (966-2)
6837573
Fax: (966-2)
6918267
·
Al Salamah Street Office
premises
Jeddah
Tel: (966-2)
6837573
Name Position
·
Sulaiman Ebrahim Al Namlah Proprietor
& General Manager
·
Ebrahim Sulaiman Ebrahim Al Namlah Assistant
General Manager
·
Abdul Qader Othman Sales
Manager
·
Sofi Al
Issawi Financial
Manager
Date of Establishment : 18/04/1397 Hijri
(corresponding to 7th April 1977)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030011995,
Jeddah
Chamber Member No. : 5312
Invested Capital
: SR 250,000
Mr Sulaiman Ebrahim
Al Namlah is the sole
proprietor of the business.
·
Al
Namlah Block Factory
Jeddah
Activities: Subject’s operations are performed through
the following divisions:
·
Foodstuff
Division
Engaged in the import and
distribution of rice, beans, lentils, sugar, spices and non food items.
·
Contracting
Division
Engaged as general building and maintenance
contractors.
Import
Countries: Europe and the
Far East.
International
Suppliers:
·
Mahavir Rice India
·
Mosakan Rice India
Operating Trend: Steady
Subject has a
workforce of 52 employees.
Financial
highlights provided by local sources are given below:
Currency: Saudi
Riyals (SR)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales SR 18,220,000 SR 19,300,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Saudi
British Bank
PO Box: 109
Jeddah 21411
Tel: (966-2) 6512121
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 business
is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.57 |
|
UK Pound |
1 |
Rs.87.90 |
|
Euro |
1 |
Rs.71.53 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.