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Report Date : |
12.12.2012 |
IDENTIFICATION DETAILS
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Name : |
CHEMICAL RECYCLING TRADING SERVICES EST |
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Registered Office : |
Jubail Industrial
Area, P O Box 36080, Jubail 31952 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
30.03.2011 |
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Com. Reg. No.: |
2051045314, Jubail |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Recyclers of chemicals and plastic materials |
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No. of Employees : |
45 employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 |
|
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 : CHEMICAL RECYCLING TRADING SERVICES EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 30th March 2011
Commercial Registration Number : 2051045314, Jubail
Chamber Membership Number : 163061
Invested Capital : SR 500,000
Total Workforce : 45
Activities : Recyclers of chemicals and plastic materials.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Shashidhar Madar Kandi, Operations Manager
CHEMICAL RECYCLING
TRADING SERVICES EST
Registered &
Physical Address
Location : Jubail Industrial Area
PO Box : 36080
Town : Jubail 31952
Country : Saudi Arabia
Telephone : (966-3) 3400778 / 3400779 / 3614783
Facsimile : (966-3) 3400778
Mobile : (966-50) 6909094 / (966-55)
5632856
Email : shashidhar@abis.com.sa
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Industrial Area of Jubail.
Name Position
·
Abdullah
Abdulwahab Al Barrak Proprietor
& General Manager
·
Shashidhar
Madar Kandi Operations
Manager
Date of Establishment : 24/04/1432
Hijri (corresponding to 30th March 2011)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 2051045314,
Jubail
Chamber Member No. : 163061
Invested Capital
: SR 500,000
Mr Abdullah
Abdulwahab Al Barrak is the sole proprietor of the business.
·
Al
Barrak Industrial Services Co
Al Ahsa
Tel: (966-3) 5826507 / 5828509 / 5332885
·
Al
Barrak Automatic Door
Jubail
Tel: (966-3) 3614793
Activities: Engaged in the recycling of chemicals and
plastic materials.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 45 employees.
Subject is a newly formed
business and as a result financial information is not currently available.
·
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.
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
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 |
|
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.