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Report Date : |
31.07.2013 |
IDENTIFICATION DETAILS
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Name : |
ZAMIL STEEL INDUSTRIES CO LLC |
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Registered Office : |
Industrial Area, Phase No. 1, PO Box: 877 & 270, Dammam 31421 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
24.09.1998 |
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Com. Reg. No.: |
2050034116 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturers of steel products |
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No. of Employees : |
150 |
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 |
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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 :
ZAMIL STEEL INDUSTRIES CO LLC
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Company
Registration Date :
24th September 1998
Commercial Registration Number :
2050034116, Dammam
Chamber Membership Number :
1874
Issued Capital :
SR 10,000,000
Paid up Capital :
SR 10,000,000
Total Workforce : 150
Activities :
Manufacturers of steel products
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
ZAMIL STEEL INDUSTRIES CO LLC
Registered &
Physical Address
Location : Industrial Area,
Phase No. 1
PO Box : 877 & 270
Town : Dammam 31421
Country : Saudi Arabia
Telephone : (966-3) 8471840
/ 8471844 / 8121120
Facsimile : (966-3)
8471291 / 8121281
Email : zamilsteel@zamil.com
Premises
Subject operates from a large suite of offices and a factory that are
rented and located in the Industrial Area of Dammam.
Name Position
Khalid Abdullah Hamad Al Zamil Managing
Director
Ahmed Abdullah Hamad Al Zamil Director
Nawaf Al Zamil Assistant
General Manager
George Oubrosi Marketing
Manager
Mohamed Nabag Accounts
Manager
Date of Establishment : 02/06/1419 Hijri
(corresponding to 24th September 1998)
Legal Form : Limited Liability
Company
Commercial Reg. No. : 2050034116,
Dammam
Chamber Member No. : 1874
Issued Capital : SR 10,000,000
Paid up Capital : SR 10,000,000
Name of Partner
(s) Percentage
Zamil Industrial Investment (ZIIC) 100%
Dammam
CR No. 2050004215
Activities: Engaged in the manufacture of steel products.
Import Countries: Europe and the Far East.
Subject has a workforce of approximately 150 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.
National Commercial Bank
PO Box: 13
Dammam 31411
Tel: (966-3) 8331188
Fax: (966-3) 8336058
No complaints regarding subject’s payments have been reported.
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 company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.83 |
|
|
1 |
Rs.91.76 |
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Euro |
1 |
Rs.79.33 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.