|
Report Date : |
23.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
FAWAH TRADING EST |
|
|
|
|
Registered Office : |
Balqees Street, Industrial Area, PO Box 3228, Riyadh 11471 |
|
|
|
|
Country : |
Saudi Arabia |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
16.07.1982 |
|
|
|
|
Com. Reg. No.: |
1010117792 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Distributors of automotive paint, primer, polish, waxes
and cleaning materials. |
|
|
|
|
No. of Employees : |
10 |
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 :
FAWAH TRADING EST
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
16th July 1982
Commercial Registration Number : 1010117792, Riyadh
Invested Capital :
SR 125,000
Total Workforce :
10
Activities :
Distributors of automotive paint, primer, polish, waxes and cleaning
materials.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY
NAME
FAWAH TRADING EST
Registered
& Physical Address
Street :
Balqees Street
Area :
Industrial Area
PO Box :
3228
Town :
Riyadh 11471
Country :
Saudi Arabia
Telephone :
(966-1) 4482870
Facsimile :
(966-1) 4468432
Mobile :
(966-55) 5250713 / (966-56) 8732222
Premises
Subject operates from a small suite of offices that are
rented and located in the Industrial Area of Riyadh.
Name Position
Ali Abood Al Amoudi Proprietor
& General Manager
Saeed Ali Abood Al Amoudi Assistant
General Manager
Date of Establishment : 16th
July 1982
Legal Form :
Sole Proprietorship
Commercial Reg. No. :
1010117792, Riyadh
Invested Capital : SR
125,000
Mr Ali Abood Al Amoudi is the sole proprietor of the
business.
Activities: Engaged in the import and
distribution of automotive paint, primer, polish, waxes and cleaning materials.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 10 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 12,250,000 SR 12,400,000
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
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.51 |
|
|
1 |
Rs.84.85 |
|
Euro |
1 |
Rs.71.43 |
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.