MIRA INFORM REPORT

 

 

Report Date :

05.10.2012

 

IDENTIFICATION DETAILS

 

Name :

ABDUL RAHMAN & ABDUL KARIM S AL OMRAN TRADING CO

 

Registered Office :

 

Al Omran Building Al Hejaz Road Central Market, Al Shifa Area PO Box: 4709

Riyadh 11412

 

 

 

 

Country :

Saudi Arabia

 

 

 

 

Financials (as on) :

31.12.2011

 

 

 

 

Date of Incorporation :

16.08.1980

 

 

 

 

Com. Reg. No.:

1010088737, Riyadh

 

 

 

 

Legal Form :

Limited Liability Partnership

 

 

 

 

Line of Business :

Subject operates several divisions like Trading Division, Manufacturing Division

 

 

 

 

No. of Employees :

250

 

 

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

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

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

(31.03.2011)

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

 

SUMMARY

 

Company Name                                    : ABDUL RAHMAN & ABDUL KARIM S AL OMRAN TRADING CO

Country of Origin                                   : Saudi Arabia

Legal Form                                           : Limited Liability Partnership

Registration Date                                  : 16th August 1980

Commercial Registration Number           : 1010088737, Riyadh

Chamber Membership Number               : 21272

Issued Capital                                       : SR 5,000,000

Paid up Capital                                     : SR 5,000,000

Total Workforce                                     : 250

Activities                                               : Subject operates several divisions (see below for details)

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                                : Steady

 

 

 

COMPANY NAME

 

ABDUL RAHMAN & ABDUL KARIM S AL OMRAN TRADING CO

 

 

ADDRESS

 

Registered & Physical Address

 

Building            : Al Omran Building

Street               : Al Hejaz Road

Area                 : Central Market, Al Shifa Area

 

PO Box            : 4709

 

Town                : Riyadh 11412

Country             : Saudi Arabia

 

Telephone         : (966-1) 4211814 / 4223316 / 4211217 / 4210246

Facsimile          : (966-1) 4216113 / 4595093

Mobile              : (966-59) 3197113

Email                : alomran@ojertel.com / alomran@cyberia.net.sa

 

Premises

 

Subject operates from a large suite of offices and a showroom that are owned and located in the Central Business Area of Riyadh.

 

Branch Office (s)

 

     Location                                                                               Description

 

·       Jeddah                                                                                Rented showroom premises

Tel: (966-2) 6727225

Fax: (966-2) 6723379

 

·       Dammam                                                                             Rented showroom premises

Tel: (966-3) 8328004

Fax: (966-3) 8329440

 

·       Buraidah                                                                              Rented showroom premises

Tel: (966-6) 3816793

Fax: (966-6) 3812139

 

·       New Industrial Estate                                                            Owned factory premises

Riyadh

     Tel: (966-1) 2650228

Fax: (966-1) 2650158 / 2650160

KEY PRINCIPALS

 

     Name                                                                                   Position

 

·       Abdul Rahman Saleh Al Omran                                              Managing Partner

 

·       Abdul Karim Saleh Al Omran                                                 Partner

 

·       Walid Saleh Al Omran                                                           General Manager

 

·       Adel Saleh Al Omran                                                             Commercial Manager

 

·       M Al Hussaini                                                                       Marketing Manager

 

·       Ali Mohamoud                                                                      Accounts Manager

 

·       M Hamza                                                                              Administrative Secretary

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 16th August 1980

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.   : 1010088737, Riyadh

 

Chamber Member No.  : 21272

 

Issued Capital              : SR 5,000,000

 

Paid up Capital            : SR 5,000,000

 

Name of Partner (s)                                                       

 

·       Abdul Rahman Saleh Al Omran

 

·       Abdul Karim Saleh Al Omran

 

 

AFFILIATED COMPANIES

 

·       Al Jawdah Co for Plastic Pipes

Al Hejaz Road

Central Market

PO Box: 4709

Riyadh 11412

Tel: (966-1) 4580868

Fax: (966-1) 4595093

 

·       Al Jawdah Co for Electric Water Heaters

PO Box: 4709

Riyadh 11412

Tel: (966-1) 4594313

Fax: (966-1) 4595093

 

·       Abdul Rahman Al Omran Est

Riyadh

 

·       Al Jawdah Ceramic Company

Riyadh Industrial City

PO Box: 4709

Riyadh

Tel: (966-1) 4594313

Fax: (966-1) 4595093

 

 

OPERATIONS

 

Activities: Subject’s operations are performed through the following divisions:

 

·       Trading Division

 

     Engaged in the wholesale and retail of various building materials, sanitary ware, medical equipment and

     electrical products.

 

·       Manufacturing Division

 

      Engaged in the manufacture of ceramic pipes and sanitary ware products.

 

Import Countries: Germany, the Netherlands, Denmark and Switzerland.

 

International Suppliers:

 

·       Armex                      Germany

·       Hazet                       Germany

 

Operating Trend: Steady

 

Subject has a workforce of approximately 250 employees.

 

 

FINANCIAL DATA

 

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 72,600,000                           SR 78,100,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       National Commercial Bank

Batha Branch 201

PO Box: 34

Riyadh 11411

Tel: (966-1) 4025084

 

·       Al Bank Al Saudi Al Fransi

Mather Street

PO Box: 56006

Riyadh

Tel: (966-1) 4042222

 

·       Saudi Hollandi Bank

Al Dhabab Street

PO Box: 1467

Riyadh 11431

Tel: (966-1) 4067888

 

·       Saudi American Bank

PO Box: 833

Riyadh 11471

Tel: (966-1) 4774770

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Local sources report that the subject’s operating history is clear with payment obligations met in a generally timely manner. The financial position is satisfactory and the company is deemed a fair trade risk.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.97

UK Pound

1

Rs.83.67

Euro

1

Rs.67.19

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.