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Report Date : |
19.11.2012 |
IDENTIFICATION DETAILS
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Name : |
VEOLIA WATER
SOLUTIONS AND TECHNOLOGIES SAUDI INDUSTRIES LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
18.06.1984 |
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Com. Reg. No.: |
1010054964, Riyadh |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Designers and
builders of water treatment works |
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No. of Employees : |
400 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
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.
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Source : CIA |
Company Name : VEOLIA WATER
SOLUTIONS AND TECHNOLOGIES SAUDI
INDUSTRIES LTD
Country of Origin : Saudi Arabia
Legal Form :
Limited Liability Company
Registration Date : 18th
June 1984
Commercial
Registration Number :
1010054964, Riyadh
Chamber Membership
Number : 29299
Issued Capital : SR
4,000,000
Paid up Capital : SR
4,000,000
Total Workforce :
400
Activities :
Designers and builders of water treatment works
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
VEOLIA WATER
SOLUTIONS AND TECHNOLOGIES SAUDI INDUSTRIES LTD
Building : Veolia Buildings
Street : Prince Musaed Bin Abdul Aziz
Street
PO Box : 6133
Town : Riyadh 11422
Country :
Telephone : (966-1) 4787001
Facsimile : (966-1) 4794250
Subject operates from
a large suite of offices that are owned and located in the Central Business
Area of Riyadh.
Name Nationality Position
·
Dr
Mostafa Habib Ghandour Saudi Managing
Director
·
Dinious
Leonardos Tim Horn - General
Manager
·
Venod
Algado - Projects
Manager
·
Fahd
Atiq Siddiqi - Human
Resources Manager
·
Samee
Al Haq Othman - Financial
Manager
Date of Establishment : 19/09/1404
Hijri (corresponding to 18th June 1984)
Legal Form :
Limited Liability Company
Commercial Reg. No. : 1010054964,
Riyadh
Chamber Member No. : 29299
Issued Capital : SR 4,000,000
Paid up Capital : SR 4,000,000
·
Dr
Mostafa Habib Ghandour 51%
·
Veolia
Water Solution Technologies 49%
France
·
Veolia
Water Solution and Technologies Saudi Chemicals Ltd
Riyadh
Activities: Engaged as designers and builders of water
treatment works.
Subject has a workforce
of approximately 400 employees.
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.
·
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.
Local sources report
that the subject’s operating history is clear with payment obligations met in a
generally timely manner. The financial position is satisfactory and the company
is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.99 |
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|
1 |
Rs.87.21 |
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Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
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.