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Report Date : |
05.02.2013 |
IDENTIFICATION DETAILS
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Name : |
TANNOUR MODERN BAKERY |
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Registered Office : |
Mahsen Industrial Area, Al Hasa |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
11.06.2009 |
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Com. Reg. No.: |
2252040583 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacturers of bakery products and sweets |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 :
TANNOUR MODERN BAKERY
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
11th June 2009
Commercial Registration Number :
2252040583, Al Hasa
Invested Capital :
SR 100,000
Total Workforce :
12
Activities :
Manufacturers of bakery products and sweets
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
TANNOUR MODERN BAKERY
Registered &
Physical Address
Location : Mahsen
Industrial Area
Town : Al Hasa
Country : Saudi Arabia
Telephone : (966-3) 5396999
Facsimile : (966-3)
5933170
Email : moderntannour@hotmail.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Industrial Area of Al Hasa.
Branch Offices
Location Description
PO Box: 11914 Factory
premises
Jubail Industrial Area
Jubail 31952
Tel: (966-3) 3483399
Fax: (966-3) 3483399
Name Position
Sultan Al Ahmari Proprietor
& General Manager
Hassan Al Tarhini Assistant
General Manager
Date of Establishment : 11th
June 2009
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 2252040583, Al
Hasa
Invested Capital : SR 100,000
Mr Sultan Al Ahmari is the sole proprietor of the business.
Activities: Engaged in the
manufacturers of bakery products and sweets.
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 31/12/10: Year Ending 31/12/11:
Total Sales SR
8,800,000 SR
9,340,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Saudi Arab Agricultural Bank
Hofuf
Al Hasa
Tel: (966-3) 5824567
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.52.97 |
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|
1 |
Rs.83.17 |
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Euro |
1 |
Rs.72.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.