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Report Date : |
28.06.2013 |
IDENTIFICATION DETAILS
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Name : |
MOHAMED TAJUDDIN ABO BAKER MOHAMED TRADING EST |
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Registered Office : |
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Country : |
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Date of Incorporation : |
11.05.1983 |
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Com. Reg. No.: |
4030039134, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of textiles |
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No. of Employees : |
4 |
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
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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 : MOHAMED TAJUDDIN ABO BAKER MOHAMED TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 11th May 1983
Commercial Registration Number : 4030039134, Jeddah
Chamber Membership Number : 289945
Invested Capital : SR 10,000
Total Workforce : 4
Activities : Distributors of textiles
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
MOHAMED TAJUDDIN ABO BAKER MOHAMED TRADING EST
Building : Badright
Trade Center
Street : King Khalid
Road
PO Box : 20040
Town : Jeddah 21455
Country : Saudi Arabia
Telephone : (966-2) 6442361
Facsimile : (966-2)
6442361
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Jeddah.
Name Position
· Mohamed Tajuddin
Abo Baker Mohamed Proprietor
& General Manager
Date of Establishment : 28/07/1403 Hijri (corresponding to 11th
May 1983)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 4030039134, Jeddah
Chamber Member No. : 289945
Invested Capital : SR 10,000
Mr Mohamed Tajuddin Abo Baker Mohamed is the sole proprietor of the
business.
Activities: Engaged in the import and distribution of textiles.
Import Countries: Europe and the Far East.
Subject has a workforce of 4 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
Prince Fahad
Street
PO Box: 9324
Jeddah 21413
Tel: (966-2)
6513333
No complaints regarding subject’s payments have been reported.
Please note that we were unable to contact the subject directly during
our investigation.
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 business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.70 |
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1 |
Rs.92.25 |
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Euro |
1 |
Rs.78.38 |
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.