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Report Date : |
08.12.2012 |
IDENTIFICATION DETAILS
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Name : |
MABKHOOT MOHAMED SEIARY TRADING EST |
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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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Year of Establishment : |
1982 |
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Com. Reg. No.: |
1010230166, Riyadh |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of air conditioning systems, insulation products, duct accessories and filters |
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No. of Employees : |
50 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 : MABKHOOT MOHAMED SEIARY TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Start Date : 1982
Registration Date : 20th July 2007
Commercial Registration Number : 1010230166, Riyadh
Chamber Membership Number : 150437
Invested Capital : SR 500,000
Total Workforce : 50
Activities : Distributors of air conditioning systems, insulation products, duct
accessories and filters.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
MABKHOOT MOHAMED
SEIARY TRADING EST
Registered &
Physical Address
Street : Al Ahsa Street
Area : Al Malaz District
PO Box : 40899
Town : Riyadh 11511
Country : Saudi Arabia
Telephone : (966-1) 4775553 / 4770474
Facsimile : (966-1) 4776935
Mobile : (966-55) 3343221
Email : ruh@seiary.com
Premises
Subject operates from
a suite of offices a warehouse and a showroom covering 3,000m2 that
are rented and located in the Central Business Area of Riyadh.
Branch Office (s)
Location Premises
·
Baladiya
Street Showroom
and warehouse premises
Jeddah
Tel: (966-2) 2830007
·
Al
Khobar Showroom
and warehouse premises
Tel: (966-3) 8679232
Name Position
·
Mabkhoot
Mohamed Aoun Seiary Proprietor
& General Manager
·
Haroon
Hajaj Assistant
General Manager
·
Pardeep
Kumar Accounts
Manager
Date of Establishment : 1982, however
subject was registered on 20th July 2007
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010230166,
Riyadh
Chamber Member No. : 150437
Invested Capital
: SR 500,000
Mr Mabkhoot Mohamed
Aoun Seiary is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
air conditioning systems, insulation products, duct accessories and filters.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 50 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 12,310,000 SR 12,800,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Commercial Bank
Airport Road
PO Box: 2800
Tel: (966-1) 4772281
Fax: (966-1) 4730322
No complaints
regarding subject’s payments have been reported.
Local sources
report that the subject’s operating history is clear with payment obligations met
in a generally timely manner. The financial position is satisfactory and the
business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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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.