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Report Date : |
12.12.2012 |
IDENTIFICATION DETAILS
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Name : |
ALI ESSA AL KHALAF CONTRACTING EST |
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Registered Office : |
Jeddah Street, P
O Box 1527, Jubail 31951 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
07.07.2007 |
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Com. Reg. No.: |
2055008049, Jubail |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
General building maintenance and construction contractors |
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No. of Employees : |
15 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) |
|
Saudi
Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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.
|
Source : CIA |
Company Name : ALI ESSA AL KHALAF CONTRACTING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 7th July 2007
Commercial Registration Number : 2055008049, Jubail
Chamber Membership Number : 96537
Invested Capital : SR 200,000
Total Workforce : 15
Activities : General building maintenance and construction contractors
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
ALI ESSA AL KHALAF
CONTRACTING EST
Registered &
Physical Address
Location : Jeddah Street
PO Box : 1527
Town : Jubail 31951
Country : Saudi Arabia
Telephone : (966-3) 3626873
Facsimile : (966-3) 3617632
Mobile : (966-56) 4799937
Email : khalaf_cont@yahoo.com
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Jubail.
Name Position
·
Ali
Essa Nasser Al Khalaf Proprietor
& General Manager
·
Shakeel
Abbass Assistant
General Manager
Date of Establishment : 7th
July 2007
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 2055008049,
Jubail
Chamber Member No. : 96537
Invested Capital
: SR 200,000
Mr Ali Essa Nasser
Al Khalaf is the sole proprietor of the business.
Activities: Engaged as general building maintenance and
construction contractors.
Operating Trend: Steady
Subject has a
workforce of 15 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 11,125,000 SR 11,670,000
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
PO Box: 58
Jubail 51951
Tel: (966-3) 3612896
Fax: (966-3) 3611750
No complaints
regarding subject’s payments have been reported.
According to local sources,
subject enjoys a good reputation for the quality of its products with nothing
detrimental uncovered regarding the manner in which operations are conducted.
As such the business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.32 |
|
UK Pound |
1 |
Rs.87.36 |
|
Euro |
1 |
Rs.70.36 |
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 |
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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 |
|
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 |
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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 |
|
<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.