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Report Date : |
24.08.2013 |
IDENTIFICATION DETAILS
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Name : |
SADEQ ABDULLAH ABDUL MAJED ANAM EST |
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Registered Office : |
Location: Bab Macca Street, PO Box: 22493, Jeddah 21495 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
19.06.2001 |
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Com. Reg. No.: |
4030129539 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of textiles, readymade garments and perfumes |
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No. of Employees : |
12 |
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 – 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 |
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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 :
SADEQ ABDULLAH ABDUL MAJED ANAM EST
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
19th June 2001
Commercial Registration Number :
4030129539, Jeddah
Membership Number :
5951
Invested Capital :
SR 100,000
Total Workforce :
12
Activities :
Distributors of textiles, readymade garments and perfumes
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Person Interviewed :
Nabil Abdullah Abdul Majed Saif Anam, Assistant General Manager
SADEQ ABDULLAH ABDUL MAJED ANAM EST
Registered &
Physical Address
Location : Bab Macca
Street
PO Box : 22493
Town : Jeddah 21495
Country : Saudi Arabia
Telephone : (966-12)
6442028
Facsimile : (966-12)
6436343
Premises
Subject operates from a small suite of offices that are rented and a
showroom and located in the Central Business Area of Jeddah.
Branch Offices
Location Description
Bab Shareef Rented
showroom premises
Jeddah
Tel: (966-12) 6480061
Name Position
Sadeq Abdullah Abdul Majed Saif Anam Proprietor & General
Manager
Nabil Abdullah Abdul Majed Saif Anam Assistant
General Manager
Date of Establishment : 27/03/1422 Hijri
(corresponding to 19th June 2001)
Legal Form : Sole Proprietorship
Commercial Reg. No. : 4030129539,
Jeddah
Membership No. : 5951
Invested Capital : SR 100,000
Mr Sadeq Abdullah Abdul Majed Saif Anam is the sole proprietor of
the business.
Activities: Engaged in the
import and distribution of textiles, readymade garments and perfumes.
Import Countries: Europe
and the Far East.
Operating Trend: Steady
Subject has a workforce of 12 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
13,200,000 SR
13,550,000
Local sources consider subject’s financial condition to be Fair.
National Commercial Bank
King Abdul Aziz Street
PO Box: 3555
Jeddah 21481
Tel: (966-2) 6446644
Fax: (966-2) 6446644
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.64.69 |
|
|
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.86.30 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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 |
|
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.