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Report Date : |
30.01.2013 |
IDENTIFICATION DETAILS
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Name : |
AL DAGAL CO LTD FOR TANNING & LEATHER ACCESSORIES |
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Formerly Known As : |
AL DAGAL (P) LTD |
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Registered Office : |
Madinah Road Al Faisaliyah PO Box 4213 & 587 Madinah |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
08.04.2001 |
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Com. Reg. No.: |
4650030973, Madinah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Processing of leather products. |
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No. of Employees : |
160 |
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) |
|
Saudi Arabia |
A2 |
A2 |
|
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 : AL DAGAL CO LTD FOR TANNING & LEATHER ACCESSORIES
Also Known As : AL DAGAL (P) LTD
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 8th April 2001
Commercial Registration Number : 4650030973, Madinah
Chamber Membership Number : 621
Issued Capital : SR 12,000,000
Paid up Capital : SR 12,000,000
Total Workforce : 160
Activities : Processing of leather products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Shareef Mohamed Amarah, Financial Manager
AL DAGAL CO LTD FOR TANNING & LEATHER ACCESSORIES
ALSO KNOWN AS: AL DAGAL (P) LTD
Street : Madinah Road
Area : Al
Faisaliyah
PO Box : 4213 & 587
Town : Madinah
Country : Saudi Arabia
Telephone : (966-4) 8460179
/ 8458535 / 8458536 / 8458537 / 8454888 / 8245488
Facsimile : (966-4)
8458539 / 8458542 / 8452344 / 8232344
Mobile : (966-50)
9653870
Email : sales@aldagal.com
/ dagalh@gmail.com
/ dagalh@icc.net.sa
Subject operates from a large suite of offices and a factory that are
owned and located in the Suburban Business Area of Madinah.
Branch Office (s)
Location Description
· Jeddah Sales
Office
Tel: (966-2)
6650512
Fax:
(966-2) 6655548
· Riyadh Sales
Office
Tel: (966-1)
4951961
· Dammam Sales
Office
Tel: (966-3)
8337883
· Al Madinah Sales
Office
Tel: (966-4) 8200587
/ 8201046
· Makkah Sales
Office
Tel: (966-2)
5372673
· Taif Sales
Office
Tel: (966-5)
4710439
· Khamis Mushait Sales
Office
· Abha Sales
Office
Tel: (966-7)
2292024
· Al Khobar Sales
Office
Tel: (966-3)
8943988
· Dubai Sales
Office
United Arab
Emirates
Name Position
· Talal Abdul Qader
Asaad Al Dagal Managing
Partner
· Saud Abdul Qader
Al Dagal Partner
· Khalid Abdul Qader
Al Dagal Partner
· Musbbah Eddine Sales
Manager
· Shareef Mohamed
Amarah Financial
Manager
· Fekri Alwish Production
Manager
· Mohamed Bayoumi Marketing
Manager
· Sayed Abdul Mulla Administration
Officer
Date of
Establishment : 8th
April 2001
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 4650030973, Madinah
Chamber Member No. : 621
Issued Capital : SR 12,000,000
Paid up Capital : SR 12,000,000
· Talal Abdul Qader
Asaad Al Dagal
· Saud Abdul Qader
Al Dagal
· Khalid Abdul Qader
Al Dagal
· Khalid Al Dagal
Trading Est (Florina Dagal)
PO Box: 587
Madinah
Activities: Engaged in the processing of leather products, including shoes,
jackets, belts and wallets.
Import Countries: Pakistan, India and China.
Operating Trend: Steady
Subject has a workforce of approximately 160 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
43,100,000 SR
45,500,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Shareef Mohamed Amarah, Financial
Manager
·
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 company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.70 |
|
|
1 |
Rs.84.35 |
|
Euro |
1 |
Rs.72.21 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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.