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Report Date : |
19.07.2013 |
IDENTIFICATION DETAILS
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Name : |
CBC METAL INTERNATIONAL LTD |
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Registered Office : |
Al Mahjer Street,
Gholail District, P O Box 50021, Jeddah 21523 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
02.05.2005 |
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Com. Reg. No.: |
4030155410, Jeddah |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
importer and distributor
of ferrous and non-ferrous metals |
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No. of Employees : |
50 |
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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Saudi Arabia |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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.
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Source : CIA |
Company Name : CBC METAL INTERNATIONAL LTD
Legal Form : Limited Liability Company
Registration Date : 2nd May 2005
Commercial Registration Number : 4030155410, Jeddah
Chamber Membership Number : 104340
Issued Capital : SR 5,000,000
Paid up Capital : SR 5,000,000
Total Workforce : 50
Activities : Distributors of ferrous and non-ferrous metals
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Sam Nordin, General Manager
CBC METAL
INTERNATIONAL LTD
Registered &
Physical Address
Street : Al Mahjer Street
Area : Gholail District
PO Box : 50021
Town : Jeddah 21523
Country : Saudi Arabia
Telephone : (966-2) 6370992 / 6370983
Facsimile : (966-2) 6371868
Email : cbc@cbcmetals.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Jeddah.
Name Position
·
Sam
Nordin General
Manager
·
Robert
Shaer Business
Development Manager
Date of Establishment : 23/03/1426 Hijri
(corresponding to 2nd May 2005)
Legal Form :
Limited Liability Company
Commercial Reg. No. : 4030155410,
Jeddah
Chamber Member No. : 104340
Issued Capital : SR 5,000,000
Paid up Capital : SR 5,000,000
Name of Shareholder (s) Percentage
·
CBC
International 100%
Lebanon
Activities: Engaged in the import and distribution of
ferrous and non-ferrous metals.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 50 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 Revenue SR 95,200,000 SR 97,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Sam Nordin, General Manager
·
Saudi
American Bank
Andalous Street
PO Box: 490
Jeddah 21411
Tel: (966-2) 6533555
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.59.71 |
|
UK Pound |
1 |
Rs.90.59 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
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.