MIRA INFORM REPORT

 

 

Report Date :

14.01.2012

 

IDENTIFICATION DETAILS

 

Name :

ABDULLAH M AL BLEHED SONS HOLDING COMPANY (AB GROUP)

 

 

Registered Office :

Olaya Main Street, Olaya District, PO Box 66911, Riyadh 11586

 

 

Country :

Saudi Arabia

 

 

Date of Incorporation :

20.07.2011

 

 

Com. Reg. No.:

1010202146, Riyadh

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Subject operates as a holding company for members of the AB Group, performing investment services in real estate and developments.

 

 

No. of Employees :

65

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

-

NB

                                       New Business

-

 

 

 

Status :

New Concern

Payment Behaviour :

Unknown

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)

Saudi 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                                     : ABDULLAH M AL BLEHED SONS HOLDING COMPANY (AB GROUP)

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 20th July 2011

Commercial Registration Number            : 1010202146, Riyadh

Chamber Membership Number                : 1484

Issued Capital                                        : SR 3,480,000

Paid up Capital                                      : SR 3,480,000

Total Workforce                                     : 65

Activities                                               : Holding company

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

COMPANY NAME

 

ABDULLAH M AL BLEHED SONS HOLDING COMPANY (AB GROUP)

 

 

COMPANY ADDRESS

 

Registered & Physical Address

Street               : Olaya Main Street

Area                 : Olaya District

PO Box             : 66911

Town                 : Riyadh 11586

Country             : Saudi Arabia

Telephone         : (966-1) 4660755

Facsimile          : (966-1) 4660799

Mobile               : (966-55) 5129244

Email                : abgroup@ab-group.com / h.alasaad@ab-group.com

 

Premises

 

Subject operates from a medium sized suite of offices that are rented and located in the Central Business Area of Riyadh.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Abdullah Mohamed Abdullah Al Blehed                                               Managing Partner

 

·       Fahd Abdullah Mohamed Abdullah Al Blehed                                       Partner

 

·       Faisal Abdullah Mohamed Abdullah Al Blehed                         Partner

 

·       Fawaz Abdullah Mohamed Abdullah Al Blehed                         Partner

 

·       Faris Abdullah Mohamed Abdullah Al Blehed                                       Partner

 

·       Hesa Abdulrahman Al Blehed                                                 Partner

 

·       Awatif Turki Al Maadi                                                             Partner

 

·       Hassan Al Asaad                                                                              General Manager

 

·       Khaled Oudeh                                                                                   Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 19/08/1432 Hijri (corresponding to 20th July 2011)

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 1010202146, Riyadh

 

Chamber Member No. : 1484

 

Issued Capital              : SR 3,480,000

 

Paid up Capital            : SR 3,480,000

 

 

Name of Partner (s)

 

·       Abdullah Mohamed Abdullah Al Blehed

 

·       Fahd Abdullah Mohamed Abdullah Al Blehed

 

·       Faisal Abdullah Mohamed Abdullah Al Blehed

 

·       Fawaz Abdullah Mohamed Abdullah Al Blehed

 

·       Faris Abdullah Mohamed Abdullah Al Blehed

 

·       Hesa Abdulrahman Al Blehed

 

·       Awatif Turki Al Maadi

 

 

AFFILIATED COMPANIES

 

·       Trans Saudi Company Ltd (TRANSAD)

 

·       Delta Star Contracting Company Ltd

 

·       Villas Rosas Company Ltd

 

·       Transad Saudia Medical Center

 

·       Current Technology Enterprise

 

·       Fahad Al Blehed & Partners Trading & Investment Company Ltd

 

·       Al Fraihi Travel & Tourism Co Ltd

 

·       Faisal Al Blehed & Partner Engineering Consultancies Company

 

·       Fahd Al Blehed Contracting Establishment

 

·       National Instalment Finance House

 

·       Obagi Plastic Surgery Hospital

 

·       Saudi Cosmetic Company

 

·       Arab Private Schools

 

·       Al Ajami Restaurants

 

 

OPERATIONS

 

Activities: Subject operates as a holding company for members of the AB Group, performing investment services in real estate and developments.

 

Subject has a workforce of 65 employees.

 

 

FINANCIAL DATA

 

Subject is a newly formed business and as a result financial information is not currently available.

 

 

BANKERS

 

·       National Commercial Bank

Malaz Branch

PO Box: 42536

Riyadh 11551

Tel: (966-1) 4776450

Fax: (966-1) 4769502

 

 

PAYMENT HISTORY

 

Unknown

 

 

 

GENERAL COMMENTS

 

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.51.43

UK Pound

1

Rs.79.10

Euro

1

Rs.66.17

 

 

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.