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Report Date : |
10.12.2012 |
IDENTIFICATION DETAILS
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Name : |
NAEEM FOOD TRADING EST |
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|
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Registered Office : |
Sulai Area, Exit
17, PO Box: 36354, |
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Country : |
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|
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
24.04.2005 |
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Reg. No.: |
1010208418 |
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Legal Form : |
Sole
Proprietorship |
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|
|
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Line of Business : |
Operators of a
supermarket. |
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No. of Employees : |
12 |
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 |
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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 (31.03.2011) |
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
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 : NAEEM FOOD
TRADING EST
Country of Origin : Saudi
Arabia
Legal Form :
Sole Proprietorship
Registration Date : 24th
April 2005
Commercial
Registration Number : 1010208418,
Riyadh
Chamber Membership
Number : 155911
Invested Capital : SR 50,000
Total Workforce : 12
Activities :
Operators of a supermarket.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Izzuddeen
Kota, Commercial Manager
NAEEM FOOD TRADING EST
Registered & Physical Address
Location : Sulai Area, Exit 17
PO Box : 36354
Town : Riyadh 11419
Country :
Telephone : (966-1) 2448740
Facsimile : (966-1) 2410092
Mobile : (966-50) 3442216
Email : naeemfoodstrading@gmail.com / bassamest@yahoo.com
/ izzuddeenk@hotmail.com
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Suburban Business Area of Riyadh.
Name Position
Abdul Salam Ahmad
Al Shinkayti Proprietor
& General Manager
Ibrahim Masoud Assistant
General Manager
Izzuddeen Kota Commercial
Manager
Date of
Establishment: 15/03/1426 Hijri
(corresponding to 24th April 2005)
Legal Form : Sole Proprietorship
Commercial Reg.
No. : 1010208418, Riyadh
Chamber Member
No.: 155911
Invested Capital
: SR 50,000
Mr Abdul Salam
Ahmad Al Shinkayti is the sole proprietor of the business.
Activities: Engaged as operators of a supermarket
specialising in the wholesale and retail of general foodstuffs.
Import
Countries: India, Sri Lanka
and Vietnam.
International Suppliers:
Indees Food India
Eminent Store India
Operating Trend: Steady
Subject has a
workforce of 12 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 12,320,000 SR 12,850,000
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
Riyadh 11461
Tel: (966-1)
4772281
Fax: (966-1)
4730322
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 |
|
|
1 |
Rs.86.99 |
|
Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.