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Report Date : |
13.04.2013 |
IDENTIFICATION DETAILS
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Name : |
CITY COTTON EST |
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Registered Office : |
Corniche Commercial Centre, 8th Floor Al Balad Mall, Al Balad District
PO Box 20313 Jeddah 21455 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
26.01.2011 |
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Com. Reg. No.: |
4030208592, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesalers and retailers of bed sheets, duvet covers, comforters and other household textiles |
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No. of Employees : |
6 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 (31.03.2011) |
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 : CITY COTTON EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 26th January 2011
Commercial Registration Number : 4030208592, Jeddah
Chamber Membership Number : 153583
Invested Capital : SR 50,000
Total Workforce : 6
Activities : Wholesalers and retailers of bed sheets, duvet covers, comforters and other household textiles
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
CITY COTTON EST
Building : Corniche
Commercial Centre, 8th Floor
Area : Al Balad
Mall, Al Balad District
PO Box : 20313
Town : Jeddah 21455
Country : Saudi Arabia
Telephone : (966-2) 6424275
/ 6484495
Facsimile : (966-2)
6438676
Mobile : (966-50)
4323122
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
· Yasser Hassan
Salem Al Waal Proprietor
& General Manager
Date of
Establishment : 21/02/1432 Hijri
(corresponding to 26th January 2011)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 4030208592, Jeddah
Chamber Member No. : 153583
Invested Capital : SR 50,000
Mr Yasser Hassan Salem Al Waal is the sole proprietor of the business.
Activities: Engaged in the wholesale and retail of bed sheets, duvet covers,
comforters and other household textiles.
Import Countries: Europe and the Far East.
Subject has a workforce of 6 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
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 company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.44 |
|
|
1 |
Rs.83.77 |
|
Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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.