|
Report Date : |
09.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
AL HADBANIA TRADING CO |
|
|
|
|
|
|
Registered Office : |
Al Madina Al Manawara (Formerly Prince Salman Street), Exit 17 Al
Malaz PO Box 40865 Riyadh 11511 |
|
|
|
|
|
|
Country : |
Saudi Arabia |
|
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
|
|
Date of Incorporation : |
01.01.1995 |
|
|
|
|
|
|
Com. Reg. No.: |
1010116472, Riyadh |
|
|
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
|
|
Line of Business : |
Distributors of building materials and sanitary ware. |
|
|
|
|
|
|
No. of Employees : |
35 |
|
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
Company Name : AL HADBANIA TRADING CO
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 1st January 1995
Commercial Registration Number : 1010116472, Riyadh
Chamber Membership Number : 207437
Issued Capital : SR 1,300,000
Paid up Capital : SR 1,300,000
Total Workforce : 35
Activities : Distributors of building materials and sanitary ware.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ahmed Reda, Finance Manager
AL HADBANIA TRADING CO
Street : Al Madina Al
Manawara (Formerly Prince Salman Street), Exit 17
Area : Al Malaz
PO Box : 40865
Town : Riyadh 11511
Country : Saudi Arabia
Telephone : (966-1) 2448691 / 2448690 / 2448692
Facsimile : (966-1) 2448695
Email : info@alhadbania.com
Subject operates from a medium size suite of offices, a warehouse and a
showroom that are rented and located in the Central Business Area of Riyadh.
Branch Office (s)
Location Description
· Al Rayyan Area Rented
warehouse premises
Riyadh
Tel: (966-1)
4922215
· Khamis Mushait Rented
warehouse premises
Tel: (966-7)
2221041
· Buraida Rented
warehouse premises
Tel: (966-6) 3830635
· Dammam Rented
warehouse premises
Tel: (966-3)
8571126
Name Nationality Position
· Abdulaziz Mohamed Al Namlah Saudi Managing
Partner
· Mohamed Abdulaziz Al Namlah Saudi Partner
· Eid Malas - Commercial
Manager
· Ahmed Reda - Finance
Manager
· Hassan Mohamed
Hassan - Administration
Executive
Date of
Establishment : 1st
January 1995
History : Subject began in
1995 as a Sole Proprietorship under the name “Al Hadbania Trading Est”.
However in 2010 subject changed its legal
form and became a Limited Liability Partnership
under the name “Al Hadbania Trading Co”.
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 1010116472, Riyadh
Chamber Member No. : 207437
Issued Capital : SR 1,300,000
Paid up Capital : SR 1,300,000
Name
of Partner (s)
· Abdulaziz Mohamed Al Namlah
· Mohamed Abdulaziz Al Namlah
Activities: Engaged in the import and distribution of building materials and
sanitary ware.
Import Countries: United Kingdom, Italy and France
International Suppliers:
· Pegler United Kingdom
· Poly Pipe United Kingdom
· APM Italy
· Ettco Italy
· Edranor Italy
Operating Trend: Steady
Subject has a workforce of 35 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
17,450,000 SR
18,200,000
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
Riyadh 11551
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 company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.21 |
|
|
1 |
Rs.84.00 |
|
Euro |
1 |
Rs.67.75 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.