|
Report Date : |
03.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
AHMED QASIM AL HATTAMI EST |
|
|
|
|
Registered Office : |
Al Dhahab Street, Bab Shareef District, PO Box : 24234, Jeddah 21446 |
|
|
|
|
Country : |
Saudi Arabia |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
19.04.1420 |
|
|
|
|
Com. Reg. No.: |
4030127740 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Wholesale and retail of textiles, fabrics and perfumes. |
|
|
|
|
No. of Employees : |
11 |
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 (31.03.2011) |
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 : AHMED
QASIM AL HATTAMI EST
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
1st August 1999
Commercial Registration Number :
4030127740, Jeddah
Chamber Membership Number :
72584
Invested Capital :
SR 50,000
Total Workforce :
11
Activities :
Wholesale and retail of textiles, fabrics and perfumes.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Walid Al Hattami, Assistant General Manager
AHMED QASIM AL HATTAMI EST
Registered &
Physical Address
Street : Al Dhahab
Street
Area : Bab Shareef
District
PO Box : 24234
Town : Jeddah 21446
Country : Saudi Arabia
Telephone : (966-2) 6478797
/ 6485683 / 6477744 / 6478655 / 6478787
Facsimile : (966-2)
6480024
Mobile : (966-56)
2333353
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Jeddah.
Name Position
Ahmed Qasim Ahmed Al Hattami Proprietor
& General Manager
Walid Al Hattami Assistant General Manager
Jamal Al Hattami Sales
Manager
Date of Establishment : 19/04/1420 Hijri
(corresponding to 1st August 1999)
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 4030127740,
Jeddah
Chamber Member No. : 72584
Invested Capital : SR 50,000
Mr Ahmed Qasim Ahmed Al Hattami is the sole proprietor of the business.
Activities: Engaged in the
wholesale and retail of textiles, fabrics and perfumes.
Import Countries: Europe
and the Far East
Operating Trend: Steady
Subject has a workforce of 11 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
12,350,000 SR
13,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
National Commercial Bank
Al Balad Branch
King Abdulaziz Street
PO Box: 5066
Jeddah 21422
Tel: (966-2) 6434777
Fax: (966-2) 6441686
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.54.39 |
|
|
1 |
Rs.88.76 |
|
Euro |
1 |
Rs.72.19 |
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 |
|
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.