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Report Date : |
25.04.2013 |
IDENTIFICATION DETAILS
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Name : |
AL HATAMI FACTORY |
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Registered Office : |
King Abdul Aziz
Street, P O Box 3032, 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 : |
26.12.2001 |
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Com. Reg. No.: |
4030136454, Jeddah |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Manufacture of
Clothing and Garments |
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No. of Employees : |
15 |
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 (31.03.2011) |
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 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 : AL HATAMI FACTORY
Country of Origin : Saudi
Arabia
Legal Form :
Sole Proprietorship
Registration Date : 26th
December 2001
Commercial
Registration Number : 4030136454,
Jeddah
Chamber Membership
Number : 82159
Invested Capital : SR
1,000,000
Total Workforce : 15
Activities :
Manufacture of clothing and garments.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Tawfiq Haider
Hamid Al Hatami, Assistant
General Manager
AL HATAMI FACTORY
Location : King Abdul Aziz Street
PO Box : 3032
Town : Jeddah 21471
Country : Saudi Arabia
Telephone : (966-2) 6439185 / 6448598
Facsimile : (966-2) 6428079
Mobile : (966-50) 5649015
Email : hattamitex@hotmail.com
Subject operates
from a small suite of offices and a workshop that are rented and located in the
Central Business Area of Jeddah.
Name Position
·
Haider Hamid Al Hatami Proprietor
& General Manager
·
Tawfiq Haider Hamid Al Hatami Assistant
General Manager
Date of Establishment : 10/10/1422
Hijri (corresponding to 26th December 2001)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030136454,
Jeddah
Chamber Member No. : 82159
Invested Capital
: SR 1,000,000
Mr. Haider Hamid Al
Hatami is the sole proprietor
of the business.
Activities: Engaged
in the manufacture of clothing and garments.
Import
Countries: India and Singapore.
Brand Names: AL HATAMI
Operating Trend: Steady
Subject has a
workforce of 15 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 Sales SR 4,720,000 SR 5,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Tawfiq Haider Hamid Al Hatami, Assistant General Manager
·
Saudi
Investment Bank (SAIB)
PO Box: 5577
Jeddah 21432
Tel: (966-2) 6531010
Fax: (966-2) 6532333
·
Saudi
American Bank
Madinah Road
PO Box: 490
Jeddah 21411
Tel: (966-2) 6603993
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.54.30 |
|
|
1 |
Rs.82.88 |
|
Euro |
1 |
Rs.70.80 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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 |
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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.