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Report Date : |
29.11.2012 |
IDENTIFICATION DETAILS
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Name : |
YAZID ABDULLAH AL SWAILEM TRADING EST |
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Registered Office : |
King Fahd Street,
Olaya District, P O Box 87167, Riyadh 11642 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
21.04.2009 |
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Com. Reg. No.: |
1010262901, Riyadh |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of general foodstuffs |
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No. of Employees : |
08 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 |
|
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 : YAZID ABDULLAH AL SWAILEM TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 21st April 2009
Commercial Registration Number : 1010262901, Riyadh
Chamber Membership Number : 216913
Invested Capital : SR 70,000
Total Workforce : 8
Activities : Distributors of general foodstuffs
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Thomas Abraham, Sales Manager
YAZID ABDULLAH AL
SWAILEM TRADING EST
Registered &
Physical Address
Street : King Fahd Street
Area : Olaya District
PO Box : 87167
Town : Riyadh 11642
Country : Saudi Arabia
Telephone : (966-2) 4643696
Facsimile : (966-2) 4631359
Mobile : (966-50) 0042415
Email : yazidswailem@gmail.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Riyadh.
Name Position
·
Yazid
Abdullah Al Swailem Proprietor
& General Manager
·
Thomas
Abraham Sales
Manager
Date of Establishment : 26/04/1430
Hijri (corresponding to 21st April 2009)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010262901,
Riyadh
Chamber Member No. : 216913
Invested Capital
: SR 70,000
Mr Yazid Abdullah
Al Swailem is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
general foodstuffs, including rice, edible oil, milk powder,
breakfast cream, evaporated milk, tomato ketchup and hot sauces.
Import
Countries: Sweden, France,
Oman, Bahrain and the United Arab Emirates.
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 8,100,000 SR 8,500,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Commercial Bank
Malaz Branch
PO Box: 42536
Tel: (966-1) 4776450
Fax: (966-1) 4769502
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.70 |
|
UK Pound |
1 |
Rs.89.34 |
|
Euro |
1 |
Rs.72.35 |
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 |
|
---- |
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.