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Report Date : |
07.09.2012 |
IDENTIFICATION DETAILS
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Name : |
ABDUL KHALIQ AHMED ABDUL GHANI AL QADI EST |
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Formerly Known As : |
AL QADI
COMMERCIAL CENTRE |
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Registered Office : |
Al Dhahab Street,
Balad District, 20750 Jeddah
21465 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
09.06.1980 |
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Com. Reg. No.: |
4030025264,
Jeddah |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Wholesalers and retailers
of textiles and readymade garments. |
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No. of Employees : |
12 |
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 – 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 |
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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 |
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 : ABDUL KHALIQ AHMED ABDUL GHANI AL
QADI EST
Also Known As : AL QADI
COMMERCIAL CENTRE
Country of Origin : Saudi
Arabia
Legal Form : Sole
Proprietorship
Registration Date : 9th
June 1980
Commercial
Registration Number : 4030025264, Jeddah
Chamber Membership
Number : 7024
Invested Capital : SR 80,000
Total Workforce : 12
Activities :
Wholesalers and retailers of textiles and readymade garments.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
ABDUL KHALIQ AHMED
ABDUL GHANI AL QADI EST
ALSO
KNOWN AS: AL QADI
COMMERCIAL CENTRE
Street : Al Dhahab Street
Area : Balad District
PO Box : 20750
Town : Jeddah 21465
Country : Saudi Arabia
Telephone : (966-2) 6441053 / 6449066 / 6435285
Facsimile : (966-2) 6446237
Mobile : (966-50) 5324023
Subject operates from
a small suite of offices and a showroom that are rented and located in the
Central Business Area of Jeddah.
Name Position
·
Abdul
Khaliq Ahmed Abdul Ghani Al Qadi Proprietor
& General Manager
·
Fahd
Mohamed Assistant
General Manager
Date of Establishment : 26/07/1400
Hijri (corresponding to 9th June 1980)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030025264, Jeddah
Chamber Member No. : 7024
Invested Capital
: SR 80,000
Mr Abdul Khaliq Ahmed Abdul Ghani Al Qadi is the sole proprietor of the business.
Activities: Engaged in the wholesale and retail of
textiles and readymade garments.
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 15,110,000 SR 15,875,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Arab
National Bank
Madinah Road
PO Box: 9463
Jeddah 21413
Tel: (966-2) 6600272
Fax: (966-2) 6650202
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 business
is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.97 |
|
|
1 |
Rs.89.02 |
|
Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
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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 |
|
<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.