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Report Date : |
03.05.2012 |
IDENTIFICATION DETAILS
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Name : |
OVERSEAS CONSTRUCTION CO PVT LIMITED |
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Registered Office : |
Al Farzdaq Street Al Malaz District |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
01.06.2005 |
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Com. Reg. No.: |
1010215583, Riyadh |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Electro-mechanical contractors |
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No. of Employees : |
108 |
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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Saudi Arabia |
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 : OVERSEAS CONSTRUCTION CO PVT LIMITED
Country of Origin : Pakistan
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 1st June 2005
Commercial Registration Number : 1010215583, Riyadh
Chamber Membership Number : 162855
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Total Workforce : 108
Activities : Electro-mechanical contractors
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Malik Jaffar, Finance Manager
OVERSEAS CONSTRUCTION CO PVT LIMITED
Street : Al Farzdaq
Street
Area : Al Malaz
District
PO Box : 22949
Town : Riyadh 11416
Country : Saudi Arabia
Telephone : (966-1) 2062733
Facsimile : (966-1)
2062754
Mobile : (966-50)
24267730
Email : fahimiqbalkhan@hotmail.com
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Riyadh.
Name Position
· Abdul Raouf Salimi
Choudary General
Manager
· Malik Jaffar Finance
Manager
· Fahim Iqbal Khan Purchasing
Manager
Date of
Establishment : 24/04/1426 Hijri
(corresponding to 1st June 2005)
Legal Form : Subject is the
Saudi Arabian registered branch of Overseas Construction Co PVT
Limited, a Limited Liability Company
incorporated in Pakistan.
Overseas Construction Co PVT Limited in Saudi Arabia, operates as a Branch
of
a
Foreign Registered Corporation with its registered office located at the
following
address:
Overseas Construction Co PVT Limited
Islamabad
Pakistan
A Branch
of a Foreign Registered Corporation is not a legal entity in
its
own right. Responsibility for payments lays in the hands of the
company where it is originally registered.
Under these circumstances, we strongly advise that any
international trade credit should only be written under the name of
the
main company where the subject holds its registered office, in
this
case Pakistan.
Commercial Reg.
No. : 1010215583, Riyadh
Chamber Member No. : 162855
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Activities: Engaged as electro-mechanical contractors for building construction,
maintenance and electrical work.
Operating Trend: Steady
Subject has a workforce of 108 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
27,360,000 SR
29,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Malik Jaffar, Finance Manager
·
Arab National Bank (ANB)
King Faisal Street
PO Box: 56921
Riyadh 11564
Tel: (966-1)
4029000
Fax: (966-1)
4027747
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 company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.93 |
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|
1 |
Rs.85.85 |
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Euro |
1 |
Rs.69.94 |
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 |
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.