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Report Date : |
19.10.2012 |
IDENTIFICATION DETAILS
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Name : |
ABDULRAHMAN & SALEM AL WABEL TRADING & MAINTENANCE CO |
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Registered Office : |
Omar Al Mokhtar Street Al Reel PO Box
42928 Riyadh 11551 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
12.08.1995 |
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Com. Reg. No.: |
1010069353, Riyadh |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of pumps, electrical cables and related accessories |
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No. of Employees : |
68 |
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 |
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 : ABDULRAHMAN & SALEM AL WABEL TRADING & MAINTENANCE CO
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 12th August 1995
Commercial Registration Number : 1010069353, Riyadh
Chamber Membership Number : 195360
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Total Workforce : 68
Activities : Distributors of pumps, electrical cables and related accessories
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
ABDULRAHMAN & SALEM AL WABEL TRADING & MAINTENANCE CO
Street :
Omar Al Mokhtar Street
Area : Al Reel
PO Box :
42928
Town : Riyadh 11551
Country : Saudi Arabia
Telephone : (966-1) 4059090
/ 4059246
Facsimile : (966-1)
4031898
Mobile : (966-50)
4933338
Email : riyadh@al-wabel.com
Subject operates from a medium sized suite of offices that are rented
and located in the Suburban Business Area of Riyadh.
Name Position
· Abdulrahman Saleh
Al Wabel Managing
Partner
· Salem Saleh Al
Wabel Partner
· Yasir Abdulrahman
Al Wabel General
Manager
Date of
Establishment : 15/03/1416 Hijri
(corresponding to 12th August 1995)
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 1010069353, Riyadh
Chamber Member No. : 195360
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
· Abdulrahman Saleh
Al Wabel
· Salem Saleh Al
Wabel
Activities: Engaged in the import and distribution of pumps, electrical cables and
related accessories.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 68 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
14,000,000 SR
16,000,000
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.75 |
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1 |
Rs.85.07 |
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Euro |
1 |
Rs.69.04 |
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 |
-- |
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.