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Report Date : |
14.06.2013 |
IDENTIFICATION DETAILS
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Name : |
KHALIFA A AL GOSAIBI COLDSTORES |
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Registered Office : |
Dammam Dhahran Highway PO Box 222 Dammam 31411 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
17.07.1994 |
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Com. Reg. No.: |
2050028296, Dammam |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of frozen meat and poultry, confectionery and beverages. |
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No. of Employees : |
650 |
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 |
A1 |
A1 |
|
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.
Source
: CIA
Company Name : KHALIFA A AL GOSAIBI COLDSTORES
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Company
Registration Date : 17th July 1994
Commercial Registration Number : 2050028296, Dammam
Chamber Membership Number : 1697
Issued Capital : SR 1,000,000
Paid up Capital : SR 1,000,000
Total Workforce : 650
Activities : Distributors of frozen meat and poultry, confectionery and beverages.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
KHALIFA A AL GOSAIBI COLDSTORES
Location : Dammam Dhahran
Highway
PO Box : 222
Town : Dammam 31411
Country : Saudi Arabia
Telephone : (966-3) 8681442
/ 8914520 / 8681075
Facsimile : (966-3)
8661515
Email : info@kacs-kaat.com
Subject operates from a large suite of offices and a warehouse that are
rented and located in the Central Business Area of Dammam.
Branch Offices
Subject has branch offices located in Qassim, Al Hasa, Riyadh and
Jeddah.
Name Position
· Khalifa
Abdulrahman Al Gosaibi Managing
Director
· Sami Khalifa
Abdulrahman Al Gosaibi Director
· Badr Khalifa
Abdulrahman Al Gosaibi Director
· Salah Khalifa
Abdulrahman Al Gosaibi Director
· Telal Al Gosaibi General
Manager
· Haider Mowlana Finance
Manager
Date of
Establishment : 08/02/1415 Hijri (corresponding
to 17th July 1994)
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 2050028296, Dammam
Chamber Member No. : 1697
Issued Capital : SR 1,000,000
Paid up Capital : SR 1,000,000
· Khalifa
Abdulrahman Al Gosaibi Holding Company 100%
Dammam - Khobar Highway
1st Industrial City
PO Box: 222
Dammam 31411
Tel: (966-3) 8474444
Fax: (966-3) 8471854
CR No. 2050025447
Activities: Engaged in import and distribution of frozen meat and poultry,
confectionery and beverages.
Import Countries: Europe and the
Far East.
Subject has a workforce of approximately 650 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.
·
Riyad Bank
Corniche Road
Dammam
Tel: (966-3)
8323440
Fax: (966-3)
8337829
No complaints regarding subject’s payments have been reported.
Please note that subject’s commercial registration number is 2050028296.
The commercial registration number 2050025447 belongs to subject’s parent
company, namely “Khalifa Abdulrahman Al Gosaibi Holding Company”.
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.58.41 |
|
|
1 |
Rs.91.62 |
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Euro |
1 |
Rs.78.12 |
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 |
|
-- |
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.