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Report Date : |
25.06.2013 |
IDENTIFICATION DETAILS
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Name : |
DELTA STAR TRADING EST |
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Registered Office : |
Al Sulai Industrial Area |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
21.03.2010 |
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Com. Reg. No.: |
1010247127, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of automotive spare parts |
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No. of Employees : |
5 |
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) |
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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 : DELTA STAR TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 21st March 2010
Commercial Registration Number :
1010247127,
Chamber Membership Number : 215956
Invested Capital : SR 35,000
Total Workforce : 5
Activities : Distributors of automotive spare parts
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
DELTA STAR TRADING EST
Location : Al Sulai
Industrial Area
PO Box : 275417
Town : Riyadh 11314
Country : Saudi Arabia
Mobile : (966-50)
2001331 / (966-55) 6420468 / 317855
Email : deltastar44@yahoo.com
Subject operates from a small suite of offices that are rented and
located in the Industrial Area of Riyadh.
Branch Office (s)
Location Description
·
Al Kharj Area
Riyadh
Tel: (966-11)
4155397
Fax: (966-11)
4471554
Name Position
· Fahd Saleh Zaher
Al Onaizi Proprietor
& General Manager
· Mohamed Shareef Sales
Manager
Date of
Establishment : 21st
March 2010
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 1010247127, Riyadh
Chamber Member No. : 215956
Invested Capital : SR 35,000
Mr Fahd Saleh Zaher Al Onaizi is the sole proprietor of the business.
Activities: Engaged in the import and distribution of automotive spare parts.
Import Countries: Europe and the Far East.
International Suppliers:
· Trusttech India
Brand Names: FORD and GENERAL MOTORS
Operating Trend: Steady
Subject has a workforce of 5 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
7,380,000 SR
8,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Al Rajhi Banking & Investment Corporation
PO Box: 28
Riyadh 11411
Tel: (966-11)
4054647 / 4054244
Fax: (966-11) 4044753
/ 4052950
No complaints regarding subject’s payments have been reported.
Local sources report that subject meets its payments in a timely manner
and is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
|
1 |
Rs.92.25 |
|
Euro |
1 |
Rs.78.38 |
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 |
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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.