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Report Date : |
08.12.2012 |
IDENTIFICATION DETAILS
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Name : |
COLT ARABIA LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
25.11.1993 |
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Com. Reg. No.: |
2050027786, Dammam |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturers of industrial fans and related accessories. |
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No. of Employees : |
14 employees |
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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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 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
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.
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Source : CIA |
Company Name : COLT ARABIA LIMITED
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Company
Registration Date : 25th November 1993
Commercial Registration Number : 2050027786, Dammam
Chamber Membership Number : 1659
Issued Capital : SR 1,500,000
Paid up Capital : SR 1,500,000
Total Workforce : 14
Activities : Manufacturers of industrial fans and related accessories.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COLT ARABIA LIMITED
Registered &
Physical Address
Building : Panda Building, Saudi Business
Centre, 3rd Floor, Office No. 39
Street : First Street
PO Box : 9788
Town : Dammam 31423
Country : Saudi Arabia
Telephone : (966-3) 8343569 / 8343694 / 8594838
/ 8329663
Facsimile : (966-3) 8320631 / 8596067
Email : info@coltarabia.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dammam.
Name Position
·
Abdul
Mohsin Abdullah Al Mutlaq Managing
Director
·
Almaz
Mohammed Operations
Manager
·
Suhail
Mottumal Commercial
Manager
·
Mohamed
Hassan Financial
Controller
Date of Establishment : 06/11/1414,
Hijri (corresponding to 25th November 1993)
Legal Form :
Limited Liability Company
Commercial Reg. No. : 2050027786,
Dammam
Chamber Member No. : 1659
Issued Capital : SR 1,500,000
Paid up Capital : SR 1,500,000
Name of Partner (s) Percentage
·
Colt
Group Ltd 50%
United Kingdom
·
Colt
International Holding Ltd 50%
United Kingdom
·
Colt
International LLC
Dubai
Activities: Engaged in the manufacture of industrial
fans and related accessories.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a workforce
of 14 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 9,100,000 SR 9,450,000
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: 1618
Dammam 31411
Tel: (966-3) 8331553
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.54.20 |
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UK Pound |
1 |
Rs.86.99 |
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Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
---- |
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.