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Report Date : |
23.04.2013 |
IDENTIFICATION DETAILS
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Name : |
ABDUL KARIM YAHYA MUNSHI EST |
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Registered Office : |
Al Dhahab Street,
Al Balad District, P O Box
3077, Jeddah 21471 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
25.10.1977 |
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Com. Reg. No.: |
4030013281, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesalers and retailers of electrical equipment, batteries, lamps, biomedical tools, medical and scientific equipment |
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No. of Employees : |
45 |
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) |
|
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 17% 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. Over 5 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 2005. 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 KARIM YAHYA MUNSHI EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 25th October 1977
Commercial Registration Number : 4030013281, Jeddah
Membership Number : 3563
Invested Capital : SR 150,000
Total Workforce : 45
Activities : Wholesalers and retailers of electrical equipment, batteries, lamps,
biomedical tools, medical and scientific equipment
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
ABDUL KARIM YAHYA
MUNSHI EST
Registered &
Physical Address
Street : Al Dhahab Street
Area : Al Balad District
PO Box : 3077
Town : Jeddah 21471
Country : Saudi Arabia
Telephone : (966-2) 6477401 / 6477273 / 6690455
Facsimile : (966-2) 6481221 / 6676068
Mobile : (966-50) 5623994
Email : akymest@gmail.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 Offices
Location Description
·
Al Tahlia Office
premises
Jeddah
Tel: (966-2) 6721883
·
Al Sitteen Street Office
premises
Jeddah
Tel: (966-2) 6690455
·
Macca Road, Kilo 4 Office
premises
Jeddah
Tel: (966-2)
6024010
·
Riyadh Office
premises
Tel: (966-1) 4741847
·
Dammam Office
premises
Tel: (966-3) 8676056
Name Position
·
Abdul Karim Yahya Munshi Proprietor
& General Manager
·
Rayyan Abdul Karim Yahya Munshi Assistant
General Manager
·
Mohamed Qaiser Sales
Manager
Date of Establishment : 12/11/1397
Hijri (corresponding to 25th October 1977)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030013281,
Jeddah
Membership No. : 3563
Invested Capital
: SR 150,000
Mr Abdul
Karim Yahya Munshi is the sole
proprietor of the business.
Activities: Engaged in the wholesale and retail of electrical
equipment, batteries, lamps, biomedical tools, medical and scientific equipment.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 45 employees.
Financial
highlights provided by local sources are given below:
Currency: Saudi
Riyals (SR)
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Revenue SR 18,210,000 SR 18,550,000
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.54.17 |
|
UK Pound |
1 |
Rs.82.45 |
|
Euro |
1 |
Rs.70.70 |
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 |
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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.