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Report Date : |
18.01.2013 |
IDENTIFICATION DETAILS
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Name : |
MUBARAK AHMAD MUSAHAD TRADING CO |
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Formerly Known As : |
MUBARAK STYLE |
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Registered Office : |
Al Shugair Building, 3rd Floor, King Abdulaziz Street, PO Box 1705, Onaiza
51911 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
31.12.2003 |
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Com. Reg. No.: |
1128005579 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject’s operations are performed through the following divisions: Garment and Textile Division, Home Appliance
Division |
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No. of Employees : |
120 |
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 :
MUBARAK AHMAD MUSAHAD TRADING CO
Also Known As :
MUBARAK STYLE
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Partnership
Registration Date :
31st December 2003
Commercial Registration Number :
1128005579
Chamber Membership Number :
71400
Issued Capital :
SR 3,000,000
Paid up Capital :
SR 3,000,000
Total Workforce :
120
Activities :
Subject operates several divisions (see below for details)
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Abdul Majeed Ba Buraish, General Manager
MUBARAK AHMAD MUSAHAD TRADING CO
MUBARAK
STYLE
Registered &
Physical Address
Building : Al Shugair
Building, 3rd Floor
Street : King
Abdulaziz Street
PO Box : 1705
Town : Onaiza 51911
Country : Saudi Arabia
Telephone : (966-6) 3612020
Facsimile : (966-6)
3618673 / 3613606
Mobile : (966-50)
4899615 / 6155522
Email : mubarakstyle@hotmail.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 Onaiza.
Branch Office (s)
Location Description
Al Ras Rented
showroom premises
Tel: (966-5) 3515571
Commercial Street Rented showroom
premises
Onaiza 51911
Tel: (966-6) 3648181
Buraidah Rented
showroom premises
Tel: (966-6) 3831568
Exit No. 14 Rented
showroom premises
Al Rabwah District
Riyadh
Tel: (966-1) 4450009
Name Position
Mubarak Ahmad Musahad Al Qahtani Managing
Partner
Khamis Mubarak Ahmad Musahad Al Qahtani Partner
Abdul Majeed Ba Buraish General
Manager
Mohamed Abdo Raboo Sales
Manager
Ali Al Sulaili Administration
Manager
Fahd Mohamed Omar Sales
Manager
Mohamed Abdo Rabo Riyadh
Branch Manager
Date of Establishment : 07/11/1424 Hijri
(corresponding to 31st December 2003)
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 1128005579
Chamber Member No. : 71400
Issued Capital : SR 3,000,000
Paid up Capital : SR 3,000,000
Name of Partner
(s)
Mubarak Ahmad Musahad Al Qahtani
Khamis Mubarak Ahmad Musahad Al Qahtani
Activities: Subject’s operations are performed through the following divisions:
Garment and Textile Division
Wholesalers and retailers of ready made garments and textiles.
Home Appliance Division
Wholesalers and retailers of household appliances and stationery
Import Countries: Europe
and the Far East.
Operating Trend: Steady
Subject has a workforce of 120 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
40,750,000 SR
42,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Abdul Majeed Ba Buraish, General
Manager
National Commercial Bank
Batha Branch
PO Box: 34
Riyadh 11411
Tel: (966-1) 4010076 / 4025084
Fax: (966-1) 4034625
No complaints regarding subject’s payments have been reported.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.64 |
|
|
1 |
Rs.87.45 |
|
Euro |
1 |
Rs.72.65 |
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.