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Report Date : |
05.10.2012 |
IDENTIFICATION DETAILS
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Name : |
ARABIAN TRADING CORPORATION (ATRACO) |
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Registered Office : |
Bal Hamr Building King Abdulaziz Street Al Balad District |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
22.08.1975 |
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Com. Reg. No.: |
4030009120, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and retail of building materials and dried foodstuffs |
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No. of Employees : |
8 |
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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Saudi Arabia |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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 : ARABIAN TRADING CORPORATION (ATRACO)
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 22nd August 1975
Commercial Registration Number : 4030009120, Jeddah
Chamber Membership Number : 930
Invested Capital : SR 100,000
Total Workforce : 8
Activities : Wholesale and retail of building materials and dried foodstuffs
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
ARABIAN TRADING CORPORATION (ATRACO)
Building : Bal Hamr
Building
Street : King
Abdulaziz Street
Area : Al Balad
District
PO Box : 22670
Town : Jeddah 21416
Country : Saudi Arabia
Telephone : (966-2) 6475561
Facsimile : (966-2)
6482246
Email : atraco@miji.com
/ atraco@zajil.net
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Jeddah.
Name Position
· Sayed Omar Mohamed
Bafart Proprietor
& General Manager
· Sajuddine Ariji Sales
Manager
Date of
Establishment : 15/08/1395 Hijri
(corresponding to 22nd August 1975)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 4030009120, Jeddah
Chamber Member No. : 930
Invested Capital : SR 100,000
Mr Sayed Omar Mohamed Bafart is the sole proprietor of the business.
Activities: Engaged in the wholesale and retail of building materials and dried
foodstuffs, including rice.
Import Countries: Europe and the Far East.
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
12,220,000 SR
12,485,000
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.
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.51.97 |
|
|
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 |
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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 |
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<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.