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Report Date : |
11.06.2013 |
IDENTIFICATION DETAILS
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Name : |
AMAN TECHNOLOGY CO BRANCH OF AMA HOLDING |
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Registered Office : |
Prince Sultan Street, Al Mohamadiah
District, PO Box : 11135 & 8815
21453 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
03.09.2008 |
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Com. Reg. No.: |
4030182515 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Providers of communications, network
solutions, security solutions and system implementation
services. |
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No. of Employees : |
20 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit: |
US$ 150,000 |
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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 $373
billion between 2010 and 2014 on social development and infrastructure projects
to advance Saudi Arabia''s economic development.
|
Source
: CIA |
Company Name :
AMAN TECHNOLOGY CO BRANCH OF AMA HOLDING
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Partnership
Registration Date :
3rd September 2008
Commercial Registration Number :
4030182515, Jeddah
Chamber Membership Number :
131686
Issued Capital :
SR 200,000
Paid up Capital :
SR 200,000
Total Workforce :
20
Activities :
Providers of communications, network solutions,
security solutions and
system implementation services.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
Person Interviewed :
Omar Sobha, General Manager
AMAN TECHNOLOGY CO BRANCH OF AMA HOLDING
Registered &
Physical Address
Street : Prince Sultan Street
Area :
Al Mohamadiah District
PO Box : 11135 &
8815
Town : Jeddah 21453
Country : Saudi Arabia
Telephone : (966-2) 6125171
Facsimile : (966-2)
6128466
Mobile : (966-50)
9308747
Email : oasabha@gmail.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Jeddah.
Name Position
Fathi Abdullah Bin Humaid Managing
Partner
Basim Al Hobala Partner
Omar Sobha General
Manager
Date of Establishment : 02/09/1429 Hijri
(corresponding to 3rd September 2008)
Legal Form : Limited Liability Partnership
Commercial Reg. No. : 4030182515,
Jeddah
Chamber Member No. : 131686
Issued Capital : SR 200,000
Paid up Capital : SR 200,000
Name of Partner
(s)
Fathi Abdullah Bin Humaid
Basim Al Hobala
Activities: Engaged as providers of communications, network solutions, security
solutions and system implementation
services.
Subject has a workforce of 20 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
King Abdul Aziz Street
PO Box: 3555
Jeddah 21481
Tel: (966-2) 6446644
Fax: (966-2) 6446644
No complaints regarding subject’s payments have been reported.
Recommended
credit limit: US$ 150,000
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.57.78 |
|
|
1 |
Rs.89.71 |
|
Euro |
1 |
Rs.76.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
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 |
|
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.