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Report Date : |
09.10.2012 |
IDENTIFICATION DETAILS
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Name : |
TALABAT AL MAKTAB CO |
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Formerly Known As : |
EZ ORDER |
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Registered Office : |
Al Sulai Industrial Area, Exit, No 17 PO Box 271109 Riyadh 11496 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
01.01.2005 |
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Com. Reg. No.: |
1010199686, Riyadh |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and distribution of office equipment, office furniture and office supplies |
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No. of Employees : |
70 |
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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
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Saudi Arabia |
A1 |
A1 |
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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 : TALABAT AL MAKTAB CO
Also Known As : EZ ORDER
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 1st January 2005
Commercial Registration Number : 1010199686, Riyadh
Chamber Membership Number : 147744
Issued Capital : SR 1,000,000
Paid up Capital : SR 1,000,000
Total Workforce : 70
Activities :
Import and distribution of office
equipment, office furniture and office
supplies
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Samir Abdul Samad, Financial Controller
TALABAT AL MAKTAB CO
ALSO KNOWN AS: EZ ORDER
Location : Al Sulai Industrial Area, Exit, No 17
PO Box : 271109
Town : Riyadh 11496
Country : Saudi Arabia
Telephone : (966-1) 2441252 / 2444333 / 2413945
Facsimile : (966-1)
2444333
Email : fdi.abbas@ezorder.com.sa
/ fadi.abbas@ezorder.com.sa
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Industrial Area of Riyadh.
Branch Offices
Location Description
· Jeddah Office
premises
Tel: (966-2)
6525008
· Dammam Office
premises
Tel: (966-3)
8325530
Name Position
· Fouad Zeyad Abbass Managing
Partner
· Zeyad Fouad Abbass Partner
· Fadi Telal Abbas General
Manager
· Fouaz Hosni Sales
Manager
· Oranas Hamoud Al Shamry Human
Resources Manager
· Samir Abdul Samad Financial
Controller
Date of
Establishment : 1st
January 2005
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 1010199686,
Riyadh
Chamber Member No. : 147744
Issued Capital : SR 1,000,000
Paid up Capital : SR 1,000,000
· Fouad Zeyad Abbass
· Zeyad Fouad Abbass
· Talabat Al Maktab Sal
Beirut
Lebanon
Activities: Engaged in the import and distribution of office equipment, office furniture and office supplies.
Import Countries: Spain and India
Operating Trend: Steady
Subject has a workforce of 70 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
41,300,000 SR
43,700,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Samir Abdul
Samad, Financial Controller
·
National Commercial Bank
Naseria Branch
PO Box: 17248
Riyadh 11484
Tel: (966-1) 4036500
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.21 |
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1 |
Rs.84.00 |
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Euro |
1 |
Rs.67.75 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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NB |
New Business |
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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.