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Report Date : |
24.01.2013 |
IDENTIFICATION DETAILS
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Name : |
SULIMAN J WAYANI TRADING EST |
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Registered Office : |
Ibrahim Baksh Al Mansour Street Makkah |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
27.09.2011 |
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Com. Reg. No.: |
4031064559, Makkah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of general foodstuffs, readymade garments and textiles |
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No. of Employees : |
5 |
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 (31.03.2011) |
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.
Source
: CIA
Company Name : SULIMAN J WAYANI TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 27th September 2011
Commercial Registration Number : 4031064559, Makkah
Membership Number : 202001139325
Invested Capital : SR 40,000
Total Workforce : 5
Activities : Distributors of general foodstuffs, readymade garments and textiles
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
SULIMAN J WAYANI TRADING EST
Location : Ibrahim Baksh
Al Mansour Street
Town : Makkah
Country : Saudi Arabia
Telephone : (966-2) 5385355
Facsimile : (966-2)
5300597
Mobile : (966-56) 6600808 / (966-58) 0004899
Email : sjw_leo@hotmail.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Makkah.
Name Position
· Suliman Jahangir
Noor Mohamed Wayani Proprietor
& General Manager
· Abdul Sattar Assistant
General Manager
Date of
Establishment : 28/10/1432 Hijri (corresponding
to 27th September 2011)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 4031064559, Makkah
Membership No. : 202001139325
Invested Capital : SR 40,000
Mr Suliman Jahangir Noor Mohamed Wayani is the sole proprietor of the business.
Activities: Engaged in the import and distribution of general foodstuffs, readymade
garments and textiles.
Import Countries: Europe and the Far East.
Subject has a workforce of 5 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
Masfalah Branch
Makkah
Tel:
(966-2) 5367051
Fax: (966-2)
5345457
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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.53.77 |
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|
1 |
Rs.85.13 |
|
Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
-- |
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.