|
Report Date : |
17.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
GREEN TOWER EMIRATES TRADING CO LLC |
|
|
|
|
Registered Office : |
Warehouse No. 411, Modern Warehouses Al Hyre Road PO Box 17964 Riyadh 11494 |
|
|
|
|
Country : |
Saudi Arabia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
16.01.2012 |
|
|
|
|
Com. Reg. No.: |
1010340651, Riyadh |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Import and distribution of general foodstuff products |
|
|
|
|
No. of Employees : |
100 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 : GREEN TOWER EMIRATES TRADING CO LLC
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Company
Registration Date : 16th January 2012
Commercial Registration Number : 1010340651, Riyadh
Chamber Membership Number : 281448
Issued Capital : SR 27,000,000
Paid up Capital : SR 27,000,000
Total Workforce : 100
Activities : Import and distribution of general foodstuff products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Person Interviewed : Mohamed Nasser, Finance Manager
GREEN TOWER EMIRATES TRADING CO LLC
Building : Warehouse No.
411, Modern Warehouses
Street : Al Hyre Road
PO Box : 17964
Town : Riyadh 11494
Country : Saudi Arabia
Telephone : (966-1) 4389810
/ 4389811 / 4389812
Facsimile : (966-1)
4387590
Email : import@makroyalfoods.com
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Industrial Area of Riyadh.
Name Nationality Position
· Mohamed Aref Haji Sattar Polani Pakistani Managing Director
· Ali Abdullah Al Shamrani Saudi Director
· Sajid Polani Pakistani General Manager
· Mohamed Nasser - Finance
Manager
Date of
Establishment : 16th
January 2012
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 1010340651,
Riyadh
Chamber Member No. : 281448
Issued Capital : SR 27,000,000
Paid up Capital : SR 27,000,000
· Mohamed Aref Haji Sattar Polani
· Ali Abdullah Al Shamrani
· Green Tower Emirate Trading LLC
Dubai
United
Arab Emirates
· Zahrat Savr Shamran Co
Riyadh
Saudi
Arabia
Activities: Engaged in the import and distribution of general foodstuff products.
Import Countries: Pakistan, India, Vietnam and Sri Lanka
Subject has a workforce of approximately 100 employees.
Financial highlights provided by local sources are given below:
Currency: Saudi Riyals (SR)
Year
Ending 31/12/12:
Total Sales SR
60,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures were confirmed by Mohamed Nasser, Finance Manager.
·
National Commercial Bank
Airport Road
PO Box: 2800
Riyadh 11461
Tel: (966-1)
4772281
Fax: (966-1)
4730322
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.61.82 |
|
|
1 |
Rs.96.57 |
|
Euro |
1 |
Rs.82.45 |
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 |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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.