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Report Date : |
19.10.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
HASSAN ABDUL MALIK IBRAHIM AL HABBAB EST |
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Registered Office : |
Al Farzadaq Street, Al Malaz District, P O Box 58738, Riyadh 11515 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
28.12.1983 |
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Com. Reg. No.: |
1010052618, Riyadh |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject operates several divisions · Trading Division · Contracting Division |
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No. of Employees : |
105 employees |
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
|
Country Name |
Previous Rating (31.03.2012) |
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 : HASSAN ABDUL MALIK IBRAHIM AL HABBAB EST
Also Known As : H A AL HABBAB EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 28th December 1983
Commercial Registration Number : 1010052618, Riyadh
Chamber Membership Number : 28751
Invested Capital : SR 25,000
Total Workforce : 105
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
HASSAN ABDUL MALIK
IBRAHIM AL HABBAB EST
H A AL HABBAB EST
Registered &
Physical Address
Street : Al Farzadaq Street
Area : Al Malaz District
PO Box : 58738
Town : Riyadh 11515
Country : Saudi Arabia
Telephone : (966-1) 4773952
Facsimile : (966-1) 4760791
Email : khaleed40@hotmail.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Central Business Area of Riyadh.
Name Position
·
Hassan
Abdul Malik Ibrahim Al Habbab Proprietor
& General Manager
·
Khaleed
Sabbagh Human
Resources Manager
·
Abdul
Moniem Moli Administration
Manager
·
Ezzeddine
Mohamed Ibrahim Finance
Manager
·
Khaleed
Mohamed Ali Project
Manager
Date of Establishment : 24/03/1404
Hijri (corresponding to 28th December 1983)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010052618,
Riyadh
Chamber Member No. : 28751
Invested Capital
: SR 25,000
Mr Hassan Abdul
Malik Ibrahim Al Habbab is the sole proprietor of the business.
Activities: Subject’s operations are performed through
the following divisions:
·
Trading
Division
Engaged as traders of general
building materials and sanitary ware.
·
Contracting
Division
Engaged as general construction contractors specialising building
maintenance work.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 105 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 24,700,000 SR 25,250,000
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.
Please note that we
were unable to contact the subject directly during our investigation.
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.96 |
|
UK Pound |
1 |
Rs.85.45 |
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Euro |
1 |
Rs.69.46 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.