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Report Date : |
13.07.2013 |
IDENTIFICATION DETAILS
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Name : |
ZAINAB HUSSAIN TRADING EST |
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Registered Office : |
King Abdulaziz Street PO Box 9750 Dammam 31432 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
04.01.2011 |
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Com. Reg. No.: |
2050073948, Dammam |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is registered with a general trade licence. |
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No. of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 17% 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. Over 5 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 2005. 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 : ZAINAB HUSSAIN TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 4th January 2011
Commercial Registration Number : 2050073948, Dammam
Chamber Membership Number : 1400661
Invested Capital : SR 20,000
Total Workforce : 2
Activities : Subject is registered with a general trade licence
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
ZAINAB HUSSAIN TRADING EST
Location : King
Abdulaziz Street
PO Box : 9750
Town : Dammam 31432
Country : Saudi Arabia
Telephone : (966-3) 8310899
Facsimile : (966-3)
8310899
Subject operates from a small suite of offices that are rented and located
in the Central Business Area of Dammam.
Name Position
· Zainab Hussain Al
Saghairat Proprietor
· Basim Habib
Abdullah Shayeb General
Manager
Date of
Establishment : 4th
January 2011
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 2050073948, Dammam
Chamber Member No. : 1400661
Invested Capital : SR 20,000
Mr Zainab Hussain Al Saghairat is the sole proprietor of the business.
Activities: Subject is registered with a general trade licence.
Subject has a workforce of 2 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.
·
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.
Please note we were unable to contact the subject during the course of
this investigation and therefore the information is based on registered data.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.89 |
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|
1 |
Rs.90.88 |
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Euro |
1 |
Rs.78.32 |
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.