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Report Date : |
03.10.2012 |
IDENTIFICATION DETAILS
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Name : |
AHMED OTHMAN AL
ABU BAKER AL AMOUDI EST FOR TRADING |
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Registered Office : |
Tahlia Street,
53615, Jeddah 21593 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
11.02.2001 |
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Com. Reg. No.: |
4030132776,
Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and retail
of building materials and sanitary ware |
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No. of Employees : |
25 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 : AHMED
OTHMAN AL ABU BAKER AL AMOUDI EST FOR TRADING
Country of Origin : Saudi
Arabia
Legal Form :
Sole Proprietorship
Registration Date : 11th
February 2001
Commercial Registration
Number : 4030132776, Jeddah
Chamber Membership
Number : 81650
Invested Capital : SR 150,000
Total Workforce : 25
Activities :
Wholesale and retail of building materials and sanitary ware
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
AHMED OTHMAN AL ABU
BAKER AL AMOUDI EST FOR TRADING
Location : Tahlia Street
PO Box : 53615
Town : Jeddah 21593
Country : Saudi Arabia
Telephone : (966-2) 6648426 / 6641444
Facsimile : (966-2) 6641444
Email : info@al-abubaker.com
Subject operates
from a medium sized suite of offices and a showroom that are rented and located
in the Central Business Area of Jeddah.
Name Position
·
Ahmed
Othman Abu Baker Al Amoudi Proprietor
& General Manager
Date of Establishment : 17/11/1421
Hijri (corresponding to 11th February 2001)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030132776,
Jeddah
Chamber Member No. : 81650
Invested Capital
: SR 150,000
Mr Ahmed Othman Abu
Baker Al Amoudi is the sole proprietor of the business.
·
Marei
Ben Mahfouz & Ahmed Al Amoudi Co
Jewellery Centre
Tahlia Street
PO Box: 1642
Jeddah 21441
Tel: (966-2) 6641444
Fax: (966-2) 6641292
·
Ratinjat
Saudia Co Ltd
Al Shihaifa Street
Industrial City, Phase III
PO Box: 1642
Jeddah 21441
Tel: (966-2) 6361274
Fax: (966-2) 6362483
·
Red Sea
Paint Factory
Al Shihaifa Street
Industrial City, Phase III
PO Box: 1642
Jeddah 21441
Tel: (966-2) 6361271 / 6379824 / 6200581
Fax: (966-2) 6362483
·
Herberts
Powder Coatings Saudi Company Ltd
Industrial Estate, Phase No. 4
PO Box: 23819
Jeddah 21436
Tel: (966-2) 6362255
Fax: (966-2) 6362610
·
Saudi
Resin Company
PO Box: 34698
Jeddah 21478
Tel: (966-2) 6361274
Fax: (966-2) 6362483
·
Jotun
Paints Saudi Arabia
Al Shihaifa Street
Industrial City, Phase III
PO Box: 1642
Jeddah 21441
Tel: (966-2) 6361274
Fax: (966-2) 6362483
·
Professional
Chemicals & Industrial Equipment Co
Vision Capital Building (Al Amoudi Building)
Tahlia Street
PO Box: 53615
Jeddah 21593
Tel: (966-2) 6688460
Fax: (966-2) 6688465 / 6641292
Activities: Engaged in the wholesale and retail of
building materials and sanitary ware.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 25 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 14,880,000 SR 15,350,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Arab
National Bank
Madinah Road
PO Box: 9463
Jeddah 21413
Tel: (966-2) 6600272
Fax: (966-2) 6650202
No complaints
regarding subject’s payments have been reported.
According to local sources,
subject meets its payment obligations in a timely manner and the business is
considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.78 |
|
|
1 |
Rs.85.16 |
|
Euro |
1 |
Rs.67.78 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
|
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 |
|
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 |
|
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.