MIRA INFORM REPORT

 

 

Report Date :

04.02.2012

 

IDENTIFICATION DETAILS

 

Name :

KANOOZ INDUSTRIAL SERVICES

 

 

Registered Office :

Dammam 31421, 961, Mina Port Area

 

 

Country :

South Arabia

 

 

Date of Incorporation :

18.01.2002

 

 

Com. Reg. No.:

2050012702, Dammam

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Providers of plant turnaround and maintenance services.

 

 

No. of Employees :

800

 

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

 

Maximum Credit Limit :

US$ 500,000

Status :

Satisfactory

Payment Behaviour :

No complaints

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

South Arabia

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : KANOOZ INDUSTRIAL SERVICES

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 18th January 2002

Commercial Registration Number            : 2050012702, Dammam

Chamber Membership Number                : 9051

Invested Capital                                     : SR 150,000

Total Workforce                                     : 800

Activities                                               : Providers of plant turnaround and maintenance services.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 500,000

 

 

COMPANY NAME

 

KANOOZ INDUSTRIAL SERVICES

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Mina Port Area

 

PO Box             : 961

 

Town                 : Dammam 31421

Country             : Saudi Arabia

 

Telephone         : (966-3) 8475001 / 8475002

Facsimile          : (966-3) 8475008

Email                : brmdam@kanooz.com

 

Premises

 

Subject operates from a large suite of offices that are rented and located in the Industrial Area of Dammam.

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       PO Box: 1094                                                                                   Workshop Premises

Jubail 31951

Tel: (966-3) 3625999 / 3624539

Fax: (966-3) 3623011

Email: brmjub@kanooz.com

 

·       PO Box: 42696                                                                                 Workshop Premises

Riyadh 11551

Tel: (966-1) 4981595 / 4985207

Fax: (966-1) 4982419

Email: brmryd@kanooz.com

 

·       PO Box: 22082                                                                                 Workshop Premises

Jeddah 21495

Tel: (966-2) 2880642 / 2880638

Fax: (966-2) 2880638

Email: brmjed@kanooz.com

 

·       PO Box: 402                                                                                     Workshop Premises

Yanbu 41911

Tel: (966-4) 3906020 / 3905925

Fax: (966-4) 3906022

Email: brmybu@kanooz.com

 

·       PO Box: 22082                                                                                 Workshop Premises

Jeddah 21495

Tel: (966-2) 4223622

Fax: (966-2) 4223622

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Abdullah Ali Abdullah Al Karimi                                                          Proprietor & General Manager

 

·       Mohamed Yamin Abdul Karim                                                            Assistant General Manager

 

·       Marlon Jarar                                                                                      Financial Manager                                                                                        

·       Joseph Stalin                                                                                    Operations Manager

 

·       Sarat Nair                                                                                         Jubail Branch Manager

 

·       Saeed Al Omari                                                                                Riyadh Branch Manager

 

·       D S Sastry                                                                                       Jeddah Branch Manager

 

·       Sendhil Nathan                                                                                 Yanbu Branch Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 05/11/1422 (corresponding to 18th January 2002)

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 2050012702, Dammam

 

Chamber Member No. : 9051

 

Invested Capital           : SR 150,000

 

Mr Abdullah Ali Abdullah Al Karimi is the sole proprietor of the business.

 

 

 

OPERATIONS

 

Activities: Engaged in the provision of plant turnaround and maintenance services, including heat exchanger, pipeline

     and valves, tank cleaning and hydraulic torqueing maintenance and repair.

 

Subject has a workforce of approximately 800 employees.

 

 

FINANCIAL DATA

 

Companies registered in Saudi Arabia are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       National Commercial Bank

PO Box: 13

Dammam 31411

Tel: (966-3) 8331188

Fax: (966-3) 8336058

 

·       Arab National Bank (ANB)

King Faisal Street

PO Box: 56921

Riyadh 11564

Tel: (966-1) 4029000

Fax: (966-1) 4027747

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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 business is considered to be a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.96

UK Pound

1

Rs.77.46

Euro

1

Rs.64.39

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.