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Report Date : |
24.11.2012 |
IDENTIFICATION DETAILS
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Name : |
BUILDING COMPONENT SOLUTIONS LTD (BCOMS) |
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Registered Office : |
2nd |
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Country : |
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Date of Incorporation : |
19.05.2009 |
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Com. Reg. No.: |
2050065121, Dammam |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturers of sprayed polyurethane panels, single skin
roof and wall panels, related trims
and accessories |
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No. of Employees : |
65 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 : |
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) |
|
Saudi
Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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.
|
Source : CIA |
Company Name : BUILDING COMPONENT SOLUTIONS LTD (BCOMS)
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Company
Registration Date : 19th May 2009
Commercial Registration Number : 2050065121, Dammam
Chamber Membership Number : 129898
Issued Capital : SR 25,000,000
Paid up Capital : SR 25,000,000
Total Workforce : 65
Activities : Manufacturers of sprayed polyurethane panels, single skin roof and wall
panels, related trims and accessories.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
BUILDING COMPONENT
SOLUTIONS LTD (BCOMS)
Registered &
Physical Address
Location : 2nd Industrial City
PO Box : 14441
Town : Dammam 31424
Country : Saudi Arabia
Telephone : (966-3) 8124571 / 8124572 / 8124573
Facsimile : (966-3) 8124579
Email : marketing@bcoms.com
Premises
Subject operates from
a suite of offices and a factory, covering 15,600m2 that are rented and located
in the Industrial Area of Dammam.
Branch Offices
Location Description
·
PO Box:
240 Office
premises
Jubail 31951
Tel: (966-3) 3403559
Fax: (966-3) 3403559
·
PO Box:
251 Office
premises
Riyadh 11411
Tel: (966-1) 4725555
Fax: (966-1) 4766729
·
PO Box:
8076 Office
premises
Jeddah 21482
Tel: (966-2) 6600012
Fax: (966-2) 6609707
Name Position
·
Nawaf
Al Zamil Managing
Director
·
Nasri
Magzoub General
Manager
·
John
Mathew Finance
Manager
·
Tariq
Al Hakim Commercial
Manager
Date of Establishment : 24/05/1430
Hijri (corresponding to 19th May 2009)
Legal Form :
Limited Liability Company
Commercial Reg. No. : 2050065121,
Dammam
Chamber Member No. : 129898
Issued Capital : SR 25,000,000
Paid up Capital : SR 25,000,000
Name of Shareholder
(s) Percentage
·
Al
Zamil Industries Co 95%
Dammam
·
Nawaf
Al Zamil 5%
Activities: Engaged in the manufacture of sprayed
polyurethane panels, single skin roof and wall panels, related trims and accessories.
Production Capacity: 1,500,000m2 per year.
Import Countries: Europe and the Far East.
Subject has a workforce
of 65 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.
·
National
Commercial Bank
PO Box: 13
Dammam 31411
Tel: (966-3) 8331188
Fax: (966-3) 8336058
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
UK Pound |
1 |
Rs.88.30 |
|
Euro |
1 |
Rs.71.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
<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.