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Report Date : |
20.03.2013 |
IDENTIFICATION DETAILS
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Name : |
WADI SAMEH EST |
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Registered Office : |
Shayhoom Centre, Al
Hindawiya District, P O Box 19569,
Jeddah 21445 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
13.06.2012 |
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Com. Reg. No.: |
4030230061, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of home ware, utensils and cookware |
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No. of Employees : |
06 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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 |
|
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.
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Source : CIA |
Company Name : WADI SAMEH EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 13th June 2012
Commercial Registration Number : 4030230061, Jeddah
Membership Number : 171769
Invested Capital : SR 50,000
Total Workforce : 6
Activities : Distributors of home ware, utensils and cookware
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Nabil Issa Saleh, Assistant General Manager
WADI SAMEH EST
Registered &
Physical Address
Building : Shayhoom Centre
Area : Al Hindawiya District
PO Box : 19569
Town : Jeddah 21445
Country : Saudi Arabia
Telephone : (966-2) 6480720 / 6494038
Facsimile : (966-2) 6481062
Mobile :
(966-50) 5610558
Premises
Subject operates
from a small suite of offices that are rented and located in the Central Business
Area of Jeddah.
Name Position
·
Saleh Al Sairy Proprietor
& General Manager
·
Nabil Issa Saleh Assistant
General Manager
Date of Establishment : 23/07/1433
Hijri (corresponding to 13th June 2012)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030230061,
Jeddah
Membership No. : 171769
Invested Capital
: SR 50,000
Mr Saleh Al
Sairy is the sole proprietor of the
business.
Activities: Engaged in the import and distribution of
home ware, utensils and cookware.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 6 employees.
Subject is a newly
formed business and as a result financial information is not currently
available.
·
Arab
National Bank
Madinah Road
PO Box: 9463
Jeddah 21413
Tel: (966-2) 6600272
Fax: (966-2) 6650202
No complaints
regarding subject’s payments have been reported.
In view of subject’s
infancy, extensive payment and financial are not available, therefore dealings
are recommended to be on secured terms, and a close monitoring of subject’s
business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.26 |
|
UK Pound |
1 |
Rs.81.94 |
|
Euro |
1 |
Rs.70.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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.