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Report Date : |
04.04.2013 |
IDENTIFICATION DETAILS
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Name : |
NATIONAL COMPANY FOR MANGEMENT AND SERVICES
LTD (NCMS) |
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Registered Office : |
Prince Mutaab
Street, Cross Dhahran Street, P O Box 31763, Al Khobar 31952 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
26.10.1985 |
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Com. Reg. No.: |
2051010960, Al Khobar |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Providers of food catering services, housekeeping and janitorial services |
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No. of Employees : |
2250 |
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 : |
Usually Correct |
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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 |
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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 : NATIONAL COMPANY FOR MANGEMENT AND SERVICES LTD
(NCMS)
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Company
Registration Date : 26th October 1985
Commercial Registration Number : 2051010960, Al Khobar
Chamber Membership Number : 3447
Issued Capital : SR 1,000,000
Paid up Capital : SR 1,000,000
Total Workforce : 2,250
Activities : Providers of food catering services, housekeeping and janitorial
services.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person(s) Interviewed : Luay Jebawi, Business Development Manager
NATIONAL COMPANY
FOR MANGEMENT AND SERVICES LTD (NCMS)
Registered &
Physical Address
Location : Prince Mutaab Street, Cross Dhahran
Street
PO Box : 31763
Town : Al Khobar 31952
Country : Saudi Arabia
Telephone : (966-3) 8683582
Facsimile : (966-3) 8682522
Email : luay.jebawi@ncms.com.sa / info@ncms.com.sa
Premises
Subject operates from
a large suite of offices that are rented and located in the Central Business
Area of Al Khobar.
Branch Office
(s)
Location Description
·
Riyadh Office
premises
Tel: (966-1) 4740991
·
Jeddah Office
premises
Name Position
·
Mansour
Kalyanker Chief
Executive Officer
·
Luay
Jebawi Business
Development Manager
·
Osama
Al Dossary Human
Resources Manager
·
Ghazi
Uddine Procurement
Manager
Date of Establishment : 26th
October 1985
Legal Form :
Limited Liability Company
Commercial Reg. No. : 2051010960,
Al Khobar
Chamber Member No. : 3447
Issued Capital : SR 1,000,000
Paid up Capital : SR 1,000,000
Name of Partner (s) Percentage
·
Ahmed
Zainy and Sons Co 100%
Jeddah
Activities: Engaged in the provision of food catering
services, housekeeping and janitorial services.
Subject has a
workforce of approximately 2,250 employees.
Companies registered
in Saudi Arabia are not legally required to make their accounts public and no
financial information was released by the company or submitted by outside
sources.
·
Arab
National Bank (ANB)
PO Box: 37
Al Khobar 31952
Tel: (966-3) 8948660
Fax: (966-3) 8942752
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.54.39 |
|
UK Pound |
1 |
Rs.82.05 |
|
Euro |
1 |
Rs.69.59 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
<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.