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Report Date : |
23.07.2013 |
IDENTIFICATION DETAILS
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Name : |
AL QARYAN GROUP FOR TRADING INDUSTRY & CONTRACTING |
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Registered Office : |
Dammam Khobar Highway, Abu Hadriyah Road, Plot No. 71 Dallah Industrial Area PO Box 3703 Dammam 31481 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
14.05.2000 |
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Com. Reg. No.: |
2050036333, Dammam |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Processing and export of scrap metal |
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No. of Employees : |
530 |
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 : |
Good |
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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 : AL QARYAN GROUP FOR TRADING INDUSTRY & CONTRACTING
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 14th May 2000
Commercial Registration Number : 2050036333, Dammam
Chamber Membership Number : 23703
Issued Capital : SR 2,000,000
Paid up Capital : SR 2,000,000
Total Workforce : 530
Activities : Processing and export of scrap metal
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Afroz Ahmed, Finance Manager
AL QARYAN GROUP FOR TRADING INDUSTRY & CONTRACTING
Location : Dammam Khobar
Highway, Abu Hadriyah Road, Plot No. 71
Area : Dallah Industrial Area
PO Box : 3703
Town : Dammam 31481
Country : Saudi Arabia
Telephone : (966-3) 8226969
Facsimile : (966-3)
8223939
Mobile : (966-50)
3500068 / 3534000
Email : info@alqaryan.com
/ alhabshi@alqaryan.com
Subject operates from a large suite of offices and a warehouse that are
rented and located in the Industrial Area of Dammam.
Branch Offices
Subject has branch offices located in Nabiyah,
Dammam, Jubail, Riyadh, Abqaiq, Yanbu, Alkhafgi, Alhafoof, Hafer Albatin and
Buraidah.
Name Position
· Mohamed Qaryan
Fahid Al Qahtani Managing
Partner
· Hamoud Qaryan Al
Qahtani Partner
· Fahid Qaryan Al
Qahtani Partner
· Faraj Abdul Hadi
Al Qahtani Partner
· Yasser Abdul Jawad Operations
Manager
· Murli Daren Human
Resources Manager
· Afroz Ahmed Finance
Manager
· Javid Ahmed Commercial
Manager
· Omar Al Habshi Public
Relations Manager
Date of
Establishment : 11/02/1421 Hijri
(corresponding to 14th May 2000)
History : Subject was previously
called “Mohamed Qaryan Al Qahtani And Partners Group For
Trading Industry
& Contracting”. However in January 2012 it changed its name to “Al
Qaryan Group For Trading Industry & Contracting”.
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 2050036333, Dammam
Chamber Member No. : 23703
Issued Capital : SR 2,000,000
Paid up Capital : SR 2,000,000
Name of Partner
(s)
· Mohamed Qaryan
Fahid Al Qahtani
· Hamoud Qaryan Al
Qahtani
· Fahid Qaryan Al
Qahtani
· Faraj Abdul Hadi Al
Qahtani
· Fahid Qaryan Al Qahtani Est
Dammam
Activities: Engaged in the processing and export of scrap metal (both ferrous and
non ferrous), including cable
recycling and metal recycling.
Subject
is also engaged in the wholesale and retail of machinery, hardware, tools and
batteries.
Import Countries: Europe and GCC countries
Operating Trend: Steady
Subject has a workforce of approximately 530 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
1,465,413,089 SR
1,607,167,814
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Afroz Ahmed,
Finance Manager
·
National Commercial Bank
PO Box: 13
Dammam 31411
Tel: (966-3)
8331188
Fax: (966-3) 8336058
·
Saudi British Bank
PO Box: 1618
Dammam 31411
Tel: (966-3)
8331553
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
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.41 |
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|
1 |
Rs.90.74 |
|
Euro |
1 |
Rs.78.11 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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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.