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Report Date : |
30.06.2012 |
IDENTIFICATION DETAILS
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Name : |
ARABIAN TRADING CORPORATION (ATRACO) |
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Registered Office : |
Bal Hamr Building King Abdulaziz Street Al Balad District |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
22.08.1975 |
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Com. Reg. No.: |
4030009120, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and retail of building materials and dried foodstuffs |
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No. of Employees : |
8 |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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 |
Company Name : ARABIAN TRADING CORPORATION (ATRACO)
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 22nd August 1975
Commercial Registration Number : 4030009120, Jeddah
Chamber Membership Number : 930
Invested Capital : SR 100,000
Total Workforce : 8
Activities : Wholesale and retail of building materials and dried foodstuffs
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
ARABIAN TRADING CORPORATION (ATRACO)
Building : Bal Hamr
Building
Street : King
Abdulaziz Street
Area : Al Balad
District
PO Box : 22670
Town : Jeddah 21416
Country : Saudi Arabia
Telephone : (966-2) 6475561
Facsimile : (966-2) 6482246
Email : atraco@miji.com
/ atraco@zajil.net
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Jeddah.
Name Position
· Sayed Omar Mohamed
Bafart Proprietor
& General Manager
· Sajuddine Ariji Sales
Manager
Date of
Establishment : 15/08/1395 Hijri
(corresponding to 22nd August 1975)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 4030009120, Jeddah
Chamber Member No. : 930
Invested Capital : SR 100,000
Mr Sayed Omar Mohamed Bafart is the sole proprietor of the business.
Activities: Engaged in the wholesale and retail of building materials and dried
foodstuffs, including rice.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 8 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
12,220,000 SR
12,485,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Arab National Bank
Madinah Road
PO Box: 9463
Jeddah 21413
Tel: (966-2) 6600272
Fax: (966-2) 6650202
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.56.31 |
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|
1 |
Rs.88.06 |
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Euro |
1 |
Rs.70.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.