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Report Date : |
02.03.2013 |
IDENTIFICATION DETAILS
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Name : |
ATIEAF AL KHALIDIYA EST |
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Registered Office : |
Shop No. 11/39, Al Kayal Street, Al Khalidia Souq, PO Box 10094,
Jeddah 21331 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
29.04.2003 |
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Com. Reg. No.: |
4030142631, 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 : |
10 |
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 : |
Usually correct |
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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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Saudi Arabia |
A2 |
A2 |
|
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 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 : ATIEAF AL KHALIDIYA EST
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
29th April 2003
Commercial Registration Number :
4030142631, Jeddah
Chamber Membership Number :
90719
Invested Capital :
SR 25,000
Total Workforce :
10
Activities :
Wholesalers and retailers of textiles and readymade garments
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
ATIEAF AL KHALIDIYA EST
Building : Shop No.
11/39
Street : Al Kayal
Street
Area : Al Khalidia
Souq
PO Box : 10094
Town : Jeddah 21331
Country : Saudi Arabia
Telephone : (966-2) 6438859
/ 6060418
Facsimile : (966-2)
6494107
Mobile : (966-50)
5327921
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Jeddah.
Branch Office (s)
Location Description
· Al Balad District Office
premises
Jeddah
Name Position
· Ms Amal Ali Qassim Proprietor
· Akram Ali Qassim General
Manager
· Shaker Saleh Al
Ashoush Commercial
Manager (Readymade Garments)
· Mojeeb Hassab
Abdullah Commercial
Manager (Textiles)
Date of
Establishment : 26/02/1424 Hijri
(corresponding to 29th April 2003)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 4030142631, Jeddah
Chamber Member No. : 90719
Invested Capital : SR 25,000
Ms Amal Ali Qassim 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 10 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
8,100,000 SR
8,410,000
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 |
|
UK Pound |
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.71.27 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
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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 |
|
<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.