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Report Date : |
31.01.2013 |
IDENTIFICATION DETAILS
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Name : |
AL BASMA AL OULA TRADING AND CONTRACTING CO |
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Registered Office : |
Saihat Road PO Box 14877 Dammam 31434 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
31.07.2002 |
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Com. Reg. No.: |
2050040927, Khobar |
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Legal Form : |
Limited Liability Partnership |
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LINE OF BUSINESS : |
DISTRIBUTORS OF GENERAL BUILDING AND CONSTRUCTION
MATERIALS, HARDWARE AND TOOLS AS WELL AS ACTING AS GENERAL CONTRACTORS. |
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No. of Employees : |
35 |
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 |
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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 : AL BASMA AL OULA TRADING AND CONTRACTING CO
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 31st July 2002
Commercial Registration Number : 2050040927, Khobar
Chamber Membership Number : 80939
Issued Capital : SR 150,000
Paid up Capital : SR 150,000
Total Workforce : 35
Activities : Distributors of general building and construction materials, hardware and tools as well as acting as general contractors.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
AL BASMA AL OULA TRADING AND CONTRACTING CO
Location : Saihat Road
PO Box : 14877
Town : Dammam 31434
Country : Saudi Arabia
Telephone : (966-3) 8509333
Facsimile : (966-3)
8509333
Email : info@albasmatrading.com
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Dammam.
Name Position
· Mohamed Matar Al
Ghamdi Managing
Partner
· Saqar Mohamed Saqr Partner
· Fathiya Al Ghamdi Partner
Date of
Establishment : 21/05/1423 Hijri
(corresponding to 31st July 2002)
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 2050040927, Khobar
Chamber Member No. : 80939
Issued Capital : SR 150,000
Paid up Capital : SR 150,000
· Mohamed Matar Al
Ghamdi
· Saqar Mohamed Saqr
· Fathiya Al Ghamdi
Activities: Engaged in the import and distribution of general building and
construction materials, hardware and tools as well as acting as general
contractors.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 35 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
12,770,000 SR
13,480,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Arab National Bank (ANB)
King Street
PO Box: 18
Dammam 31411
Tel: (966-3)
8323440
Fax: (966-3)
8337829
No complaints regarding subject’s payments have been reported.
According to local sources, subject meets its payment obligations in a
timely manner and the business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
|
|
1 |
Rs.84.37 |
|
Euro |
1 |
Rs.72.23 |
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.