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Report Date : |
02.03.2013 |
IDENTIFICATION DETAILS
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Name : |
AL QUADI COMMERCIAL CENTER |
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Registered Office : |
Souq Al Jamia PO Box 20750 Jeddah 21465 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
06.10.1980 |
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Com. Reg. No.: |
4030025264, Jeddah |
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Legal Form : |
Sole Proprietorship |
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LINE OF BUSINESS : |
WHOLESALERS AND RETAILERS OF TEXTILES AND READYMADE
GARMENTS |
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No. of Employees : |
6 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 one-fifth 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. Almost
6 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 December 2005
after many years of negotiations. 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 : AL QUADI COMMERCIAL CENTER
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 6th October 1980
Commercial Registration Number : 4030025264, Jeddah
Chamber Membership Number : 7024
Invested Capital : SR 70,000
Total Workforce : 6
Activities : Wholesalers and retailers of textiles and readymade garments
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
AL QUADI COMMERCIAL CENTER
Location : Souq Al Jamia
PO Box : 20750
Town : Jeddah 21465
Country : Saudi Arabia
Telephone : (966-2) 6449066
/ 6431253
Facsimile : (966-2)
6446237
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Jeddah.
Name Position
· Abdul Khaliq Ahmed
Abdul Ghani Al Quadi Proprietor
& General Manager
Date of
Establishment : 26/11/1400 Hijri
(corresponding to 6th October 1980)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 4030025264, Jeddah
Chamber Member No. : 7024
Invested Capital : SR 70,000
Mr Abdul Khaliq Ahmed Abdul Ghani Al Quadi is the sole proprietor of the
business.
Activities: Engaged in the wholesale and retail of textiles and readymade garments.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 6 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
11,420,000 SR
11,550,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
National Commercial Bank
Al Balad Branch
King Abdulaziz
Street
PO Box: 5066
Jeddah 21422
Tel: (966-2)
6434777
Fax: (966-2)
6441686
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 business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.48 |
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|
1 |
Rs.82.72 |
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Euro |
1 |
Rs.71.27 |
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.