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Report Date : |
12.10.2012 |
IDENTIFICATION DETAILS
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Name : |
MOHAMED SULAIMAN AL TURKI TRADING EST |
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Registered Office : |
Al Muqiliah
Commercial Centre, 3rd Floor,
Al Deerah District, P O Box 27215, Riyadh 11417 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
08.10.1989 |
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Com. Reg. No.: |
1010011918, Riyadh |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of readymade garments, textiles and computer
software |
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No. of Employees : |
12 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Saudi
Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
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 : MOHAMED SULAIMAN AL TURKI TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 8th October 1989
Commercial Registration Number : 1010011918, Riyadh
Chamber Membership Number : 38638
Invested Capital : SR 75,000
Total Workforce : 12
Activities : Distributors of readymade garments, textiles and computer software.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
MOHAMED SULAIMAN AL
TURKI TRADING EST
Registered &
Physical Address
Building : Al Muqiliah Commercial Centre, 3rd
Floor
Area : Al Deerah District
PO Box : 27215
Town : Riyadh 11417
Country : Saudi Arabia
Telephone : (966-1) 4191191 / 4113105
Facsimile : (966-1) 4140464
Mobile : (966-55) 5558070
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Riyadh.
Name Position
·
Mohamed
Sulaiman Al Turki Proprietor
& General Manager
·
Nawaf
Mohamed Sulaiman Al Turki Assistant
General Manager
·
Essam
Abdullah Administration
Manager
Date of Establishment : 8th
October 1989
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010011918,
Riyadh
Chamber Member No. : 38638
Invested Capital
: SR 75,000
Mr Mohamed Sulaiman
Al Turki is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
readymade garments, textiles and computer software.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 12 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 12,000,000 SR 13,100,000
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
Airport Road
PO Box: 2800
Tel: (966-1) 4772281
Fax: (966-1) 4730322
No complaints
regarding subject’s payments have been reported.
According to local
sources, subject meets its payment obligations in a timely manner and the
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.07 |
|
UK Pound |
1 |
Rs.84.95 |
|
Euro |
1 |
Rs.68.24 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
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 |
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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 |
|
<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.