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Report Date : |
18.10.2012 |
IDENTIFICATION DETAILS
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Name : |
AL NAKHEEL FOR TRADING CO LTD |
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Registered Office : |
Al Reel Street, Omar Al Mokhtar Street, PO Box : 4358, Riyadh 11491 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
17.06.1998 |
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Com. Reg. No.: |
1010091197 |
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Legal Form : |
Limited Liability Partnership |
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line of business
: |
Distributors of cables, pumps, tanks and spare parts |
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No. of Employees : |
65 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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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 NAKHEEL FOR TRADING CO LTD
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Partnership
Registration Date :
17th June 1998
Commercial Registration Number :
1010091197
Chamber Membership Number :
90011
Issued Capital :
SR 500,000
Paid up Capital :
SR 500,000
Total Workforce :
65
Activities :
Distributors of cables, pumps, tanks and spare parts
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
AL NAKHEEL FOR TRADING CO LTD
Registered &
Physical Address
Location : Al Reel
Street, Omar Al Mokhtar Street
PO Box :
4358
Town : Riyadh 11491
Country : Saudi Arabia
Telephone : (966-1) 4022040
Facsimile : (966-1)
4013373
Email : info@alnakheelest.com
/ aalnakheel@excite.com
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Riyadh.
Branch Office (s)
Location Description
Dammam Office
premises
Tel: (966-3) 8173355 / 8173825
Fax: (966-3) 8171356
Name Position
Abdullah Tawari Abdullah Al Nakheel Managing
Partner
Salem Tawari Al Nakheel Partner
Ahmed Tawari Al Nakheel Partner
Faris Tawari Al Nakheel Partner
Mohamed Tawari Al Nakheel Partner
Nasser Tawari Al Nakheel Partner
Badriya Tawari Al Nakheel Partner
Hessa Tawari Al Nakheel Partner
Afaf Tawari Al Nakheel Partner
Fawziya Tawari Al Nakheel Partner
Maha Tawari Al Nakheel Partner
Noora Salem Ahmed Al Badaa Partner
Essam Murshid Commercial
Manager
Date of Establishment : 17th
June 1998
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 1010091197
Chamber Member No. : 90011
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Name of Partner
(s)
Abdullah Tawari Abdullah Al Nakheel
Salem Tawari Al Nakheel
Ahmed Tawari Al Nakheel
Faris Tawari Al Nakheel
Mohamed Tawari Al Nakheel
Nasser Tawari Al Nakheel
Badriya Tawari Al Nakheel
Hessa Tawari Al Nakheel
Afaf Tawari Al Nakheel
Fawziya Tawari Al Nakheel
Maha Tawari Al Nakheel
Noora Salem Ahmed Al Badaa
Activities: Engaged in the import and distribution of cables, pumps, tanks and
spare parts.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 65 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
18,220,000 SR
18,550,000
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.
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.52.75 |
|
UK Pound |
1 |
Rs.85.07 |
|
Euro |
1 |
Rs.69.04 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.