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Report Date : |
09.02.2013 |
IDENTIFICATION DETAILS
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Name : |
RUMIZAN JASSER AL FOZAN & SONS INVESTMENT CO |
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Registered Office : |
Ibn Batouta Street, Al Malaz District, PO Box 26305, Riyadh 11486 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
06.01.1980 |
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Com. Reg. No.: |
1010027570 & 1010125839 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of carpets, upholstery and furniture. |
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No. of Employees : |
78 |
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 :
RUMIZAN JASSER AL FOZAN & SONS INVESTMENT CO
Doing Business As :
BORSAH FURNITURE TRADING
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Partnership
Registration Date :
6th January 1980
Commercial Registration Number :
1010027570 & 1010125839, Riyadh
Chamber Membership Number :
25258
Issued Capital :
SR 2,000,000
Paid up Capital :
SR 2,000,000
Total Workforce :
78
Activities :
Distributors of carpets, upholstery and furniture.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
RUMIZAN JASSER AL FOZAN & SONS INVESTMENT CO
BORSAH
FURNITURE TRADING
Registered &
Physical Address
Street : Ibn Batouta
Street
Area : Al Malaz
District
PO Box : 26305
Town : Riyadh 11486
Country : Saudi Arabia
Telephone : (966-1) 4979709
/ 4977907 / 4979710 / 4979714
Facsimile : (966-1)
4765554
Mobile : (966-55)
5116999
Email : almanfy68@yahoo.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 Riyadh.
Name Position
Ibrahim Rumizan Jasser Al Fozan Managing
Partner
Ahmed Rumizan Jasser Al Fozan Partner
Saad Rumizan Jasser Al Fozan Partner
Sulaiman Rumizan Jasser Al Fozan Partner
Abdulaziz Rumizan Jasser Al Fozan Partner
Fawaz Rumizan Jasser Al Fozan Partner
Munira Rumizan Jasser Al Fozan Partner
Noora Rumizan Jasser Al Fozan Partner
Hessa Rumizan Jasser Al Fozan Partner
Dana Ibrahim Al Fozan Partner
Fadi Nouman Commercial
Manager
Abdul Hamid Tawfiq El Manfy Administration
Manager
Date of Establishment : 18/02/1400 Hijri
(corresponding to 6th January 1980)
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 1010027570 &
1010125839, Riyadh
Chamber Member No. : 25258
Issued Capital : SR 2,000,000
Paid up Capital : SR 2,000,000
Name of Partner
(s)
Ibrahim Rumizan Jasser Al Fozan
Ahmed Rumizan Jasser Al Fozan
Saad Rumizan Jasser Al Fozan
Sulaiman Rumizan Jasser Al Fozan
Abdulaziz Rumizan Jasser Al Fozan
Fawaz Rumizan Jasser Al Fozan
Munira Rumizan Jasser Al Fozan
Noora Rumizan Jasser Al Fozan
Hessa Rumizan Jasser Al Fozan
Dana Ibrahim Al Fozan
Activities: Engaged in the import and distribution of carpets, upholstery and
furniture.
Import Countries: Europe and GCC countries.
Brand Names: BORSAH
Subject has a workforce of 78 employees.
Companies registered in Saudi Arabia are not legally required to make
their accounts public and no financial information was released by the company or
submitted by outside sources.
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.53.57 |
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|
1 |
Rs.84.25 |
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Euro |
1 |
Rs.71.78 |
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.