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Report Date : |
31.01.2013 |
IDENTIFICATION DETAILS
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Name : |
MOHAMED SALEM AL GUTHMI EST |
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Registered Office : |
Al Sitteen Street South Central Market PO Box 1243 Jeddah 21431 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
15.10.1995 |
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Com. Reg. No.: |
4030115060, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of electrical products, cables, wires, panel control and related accessories. |
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No. of Employees : |
25 |
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 : MOHAMED SALEM AL GUTHMI EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 15th October 1995
Commercial Registration Number : 4030115060, Jeddah
Chamber Membership Number : 74753
Invested Capital : SR 50,000
Total Workforce : 25
Activities : Distributors of electrical products, cables, wires, panel control and related accessories.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mazen Salem Abdullah Al Guthmi, Assistant General Manager
MOHAMED SALEM AL GUTHMI EST
Street : Al Sitteen
Street
Area : South
Central Market
PO Box : 1243
Town : Jeddah 21431
Country : Saudi Arabia
Telephone : (966-2) 6482082
/ 6488299
Facsimile : (966-2)
6480740 / 6474292
Email : mazen@alguthmi-electrical.com
/ info@alguthmi-electric.com
/ sguthmi@yahoo.com
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Jeddah.
Name Position
· Mohamed Salem
Abdullah Al Guthmi Proprietor
& General Manager
· Mazen Salem
Abdullah Al Guthmi Assistant
General Manager
Date of
Establishment : 20/05/1416 Hijri
(corresponding to 15th October 1995)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 4030115060, Jeddah
Chamber Member No. : 74753
Invested Capital : SR 50,000
Mr Mohamed Salem Abdullah Al Guthmi is the sole proprietor of the
business.
Activities: Engaged in the import and distribution of electrical products, cables,
wires, panel control and related
accessories.
Import Countries: Europe and the Far East.
Brand Names: SEBA KMT, RITZ, KELMAN, ABB, LG INDUSTRIAL
SYSTEMS, FAMECA, PLYMOUTH, KLAUKE,
SIBILLE SAFE and KYORITSU.
Operating Trend: Steady
Subject has a workforce of 25 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 60,000,000 SR 63,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Mazen Salem Abdullah Al Guthmi,
Assistant General Manager
·
Arab National Bank
Madinah Road
PO Box: 9463
Jeddah 21413
Tel: (966-2) 6600272
Fax:
(966-2) 6650202
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 |
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|
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.