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Report Date : |
16.04.2013 |
IDENTIFICATION DETAILS
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Name : |
HASSAN AHMED MOZAFER TRADING & IMPORT EST |
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Registered Office : |
Petromin
Street, Star Roundabout 30461 Jeddah 21477 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
07.04.1975 |
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Reg. No.: |
4030008859 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesalers and retailers of general foodstuffs. |
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No. of Employees : |
100 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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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 |
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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.
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Source : CIA |
Company Name :
HASSAN AHMED MOZAFER TRADING & IMPORT EST
Country of Origin :
Saudi Arabia
Legal Form : Sole
Proprietorship
Registration Date :
7th April 1975
Commercial Registration Number :
4030008859, Jeddah
Chamber Membership Number :
4562
Invested Capital :
SR 50,000
Total Workforce :
100
Activities :
Wholesalers and retailers of general foodstuffs.
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Javid Hashim, Accounts Manager
HASSAN AHMED MOZAFER TRADING & IMPORT EST
Registered & Physical
Address
Location : Petromin Street, Star Roundabout
PO Box : 30461
Town : Jeddah 21477
Country : Saudi Arabia
Telephone : (966-2) 2686445 / 6365559 / 6377284
Facsimile : (966-2) 6361284
Mobile : (966-50) 4632171
Email : info@hamefoodstuff.com
Premises
Subject operates from a medium sized suite of offices and a showroom
that are rented and located in the Central Business Area of Jeddah.
Branch Office (s)
Location Description
Madinah Office
premises
Tel: (966-4) 8242146
Riyadh Office
premises
Tel: (966-1) 4950980
Name Position
Hassan
Ahmed Mozafer Proprietor
& General Manager
Gazi
Hassan Ahmed Mozafer Assistant
General Manager
Niaz
Hashim Mamen Sales
Manager
Fadel Al
Rahman Mamen Administration
Manager
Mohamed Ramadan Financial
Controller
Javid Hashim Accounts
Manager
Date of Establishment : 25/03/1395 Hijri
(corresponding to 7th April 1975)
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 4030008859, Jeddah
Chamber Member No. : 4562
Invested Capital : SR 50,000
Mr Hassan
Ahmed Mozafer is the sole proprietor of the business.
Activities: Engaged in the wholesale and retail of general
foodstuffs, including dried foods, beans, soya, rice and sugar.
Import Countries: Europe and the Far East.
International
Suppliers:
Qarshi Industries (Pvt) Ltd Pakistan
United Foods
Company (psc) Dubai
Shree
Jagdampa India
Porchand
Rice Mill India
Mahavir Rice Mill India
Brand Names: AL ASEEL and BARKA
Operating Trend: Steady
Subject has a workforce of 100 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
315,600,000 SR 350,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Javid Hashim, Accounts Manager
National Commercial Bank
Al Balad Branch
King Abdulaziz Street
PO Box: 5066
Jeddah 21422
Tel: (966-2) 6434777
Fax: (966-2) 6441686
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.54.62 |
|
|
1 |
Rs.83.69 |
|
Euro |
1 |
Rs.71.41 |
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.