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Report Date : |
04.10.2012 |
IDENTIFICATION DETAILS
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Name : |
SAUDI OIL
SPECIALIST CO LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
08.07.2012 |
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Com. Reg. No.: |
2062026032, Sihat |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Distributors of chemicals
and machinery for the oil and gas industry. |
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No. of Employees : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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 : SAUDI OIL SPECIALIST CO LTD
Country of Origin : Saudi
Arabia
Legal Form :
Limited Liability Company
Registration Date : 8th
July 2012
Commercial
Registration Number :
2062026032, Sihat
Chamber Membership
Number : 153191
Issued Capital : SR
500,000
Paid up Capital : SR
500,000
Total Workforce : 15
Activities :
Distributors of chemicals and machinery for the oil and gas industry.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person (s)
Interviewed :
Hussain Ali Al Janabi, Director
SAUDI OIL
SPECIALIST CO LTD
Street : Omar Bin Abdulaziz Street
Area : Sihat
PO Box : 87867
Town : Dammam 31472
Country : Saudi Arabia
Telephone : (966-3) 8394632
Facsimile : (966-3) 8394650
Mobile : (966-54) 5777852 / (966-56)
9059059
Email : hussain.aljanabi@sosco.com.sa /
rmci@sosco.com.sa
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Dammam.
Name Position
·
Ali
Hussain Al Dubais Managing
Director
·
Hussain
Ali Al Janabi Director
·
Ronald
Macintosh Operations
Manager
Date of Establishment : 18/08/1433
Hijri (corresponding to 8th July 2012)
Legal Form :
Limited Liability Company
Commercial Reg. No. : 2062026032,
Sihat
Chamber Member No. : 153191
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
·
Ali
Hussain Al Dubais
·
Hussain
Ali Al Janabi
Activities: Engaged in the import and distribution of
chemicals and machinery for the oil and gas industry.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 15 employees.
Subject is a newly formed
business and as a result financial information is not currently available.
·
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.
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.33 |
|
|
1 |
Rs.84.30 |
|
Euro |
1 |
Rs.67.44 |
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.