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Report Date : |
20.11.2012 |
IDENTIFICATION DETAILS
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Name : |
AL MOUSA SPECIALISED CABLES |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
03.07.2007 |
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Com. Reg. No.: |
1010235215, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of different types of high and low voltage cables and fibre optic products |
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No. of Employees : |
92 employees |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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 : AL MOUSA SPECIALISED CABLES
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 3rd July 2007
Commercial Registration Number : 1010235215, Riyadh
Chamber Membership Number : 33500
Invested Capital : SR 500,000
Total Workforce : 92
Activities :
Distributors of different types of
high and low voltage cables and fibre
optic products.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Sayed Hashim, Financial Controller
AL MOUSA
SPECIALISED CABLES
Registered &
Physical Address
Location : King Fahd Street
PO Box : 4668
Town : Riyadh 11412
Country : Saudi Arabia
Telephone : (966-1) 2900000 / 2901711
Facsimile : (966-1) 4577368
Mobile : (966-50) 6467303 / 6469311
Email : info@almousacables.com.sa
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Riyadh.
Branch Office
(s)
Location Description
·
Al
Ghorabi Street Office
premises
Riyadh
Tel: (966-1) 4027555 / 4024599
Fax: (966-1) 4035666
·
Malaz Office
premises
Riyadh
Tel: (966-1) 2910886
Fax: (966-1) 2910889
·
Rowdah Office
premises
Riyadh
Tel: (966-1) 2481139
Fax: (966-1) 2492234
·
Dammam Office
premises
Tel: (966-3) 8343777
Fax: (966-3) 8340477
·
Jubail Office
premises
Tel: (966-3) 3560250
Fax: (966-3) 3636330
·
Jeddah Office
premises
Tel: (966-2) 6697722
Fax: (966-2) 6683908
Name Position
·
Nasser Abdullah Al Mousa Proprietor
& General Manager
·
Sayed Hashim Financial
Controller
·
Ali Mohamed Mohamed Sales
Manager – Riyadh
·
Adel Hussain Sales
Manager – Dammam
·
Gamal Amer Administration
Manager
Date of Establishment : 18/06/1428
Hijri (corresponding to 3rd July 2007)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010235215,
Riyadh
Chamber Member No. : 33500
Invested Capital
: SR 500,000
Mr Nasser Abdullah
Al Mousa is the sole
proprietor of the business.
Activities: Engaged in the import and distribution of different types
of high and low voltage cables and fibre optic
products.
Import
Countries: Europe and the
Far East
Clients: ABB, Schneider, Alfanar , Al Jazira Home Appliance , Al Kauthar, Al
Tukhi Group , M.G.A, Mohamamd Al Mishel, Aramco, Saudi Kayan Al Abdulkareem,
Ideal Link, Erram, Abbad & Nafjan, Saudi Oger and Siemens.
International
Suppliers:
·
Sharjah
Cables
·
Middle East Cable
·
JNC Cable
·
Fujkura
Operating Trend: Steady
Subject has a
workforce of 92 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 110,000,000 SR 116,400,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Sayed Hashim, Financial Controller
·
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.97 |
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UK Pound |
1 |
Rs.87.50 |
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Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.