|
Report Date : |
22.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
SALEH ABDULAZIZ BABIKER SONS TRADING & CONTRACTING |
|
|
|
|
Registered Office : |
Deraab Street, Al Shifa
District, 20561 Riyadh 11465 |
|
|
|
|
Country : |
Saudi Arabia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
04.02.1973 |
|
|
|
|
Com. Reg. No.: |
1010001622, Riyadh |
|
|
|
|
Legal Form : |
Limited Liability
Partnership |
|
|
|
|
Line of Business : |
Wholesale and retail of
general foodstuffs. |
|
|
|
|
No. of Employees : |
50 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 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.
|
Source : CIA |
Company Name : SALEH ABDULAZIZ
BABIKER SONS TRADING & CONTRACTING
Country of Origin : Saudi
Arabia
Legal Form :
Limited Liability Partnership
Registration Date : 4th
February 1973
Commercial
Registration Number : 1010001622,
Riyadh
Chamber Membership
Number : 2214
Issued Capital : SR
1,000,000
Paid up Capital : SR
1,000,000
Total Workforce : 50
Activities :
Wholesale and retail of general foodstuffs.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Osama
Shalaby, Commercial Manager
SALEH ABDULAZIZ BABIKER SONS TRADING & CONTRACTING
Street : Deraab Street
Area : Al Shifa District
PO Box : 20561
Town : Riyadh 11465
Country : Saudi Arabia
Telephone : (966-1) 4229770 / 4026302
Facsimile : (966-1) 4228498 / 4026324
Mobile : (966-50) 4131388
Email : babakersons@babalker.com
Subject operates
from a medium sized suite of offices and a showroom that are rented and located
in the Central Business Area of Riyadh.
Branch Offices
Location Description
·
Jeddah Office
premises
Tel: (966-2) 2682242
·
Dammam Office
premises
Tel: (966-3) 8573363
·
Abha Office
premises
Tel: (966-7) 2354897
Name Position
·
Omar Saleh Abdulaziz Babiker Managing
Partner
·
Saeed Saleh Abdulaziz Babiker Partner
·
Fawizia Saleh Abdulaziz Babiker Partner
·
Fatima Saleh Abdullah Partner
·
Saleh
Omar Saleh Abdulaziz Babiker General
Manager
·
Osama
Shalaby Commercial
Manager
·
Ibrahim
Al Mazroui Financial
Controller
Date of Establishment : 4th
February 1973
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 1010001622,
Riyadh
Chamber Member No. : 2214
Issued Capital : SR 1,000,000
Paid up Capital : SR 1,000,000
·
Omar Saleh Abdulaziz Babiker
·
Saeed Saleh Abdulaziz Babiker
·
Fawizia Saleh Abdulaziz Babiker
·
Fatima Saleh Abdullah
Activities: Engaged in the wholesale and retail of general
foodstuffs, including sugar, rice, oil and pulses.
Import
Countries: Sri Lanka,
Thailand and Vietnam.
Operating Trend: Steady
Subject has a
workforce of 50 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 29,830,000 SR 32,500,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Osama Shalaby, Commercial Manager
·
National
Commercial Bank
Malaz Branch
PO Box: 42536
Riyadh 11551
Tel: (966-1) 4776450
Fax: (966-1) 4769502
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.54.48 |
|
|
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.