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Report Date : |
30.03.2013 |
IDENTIFICATION DETAILS
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Name : |
ABU BAKER SALEM BAWAZEER & PARTNER CO |
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Registered Office : |
Macca Old Rd, Kilo 8 PO Box 30619 Jeddah 21487 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
01.09.2008 |
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Com. Reg. No.: |
4030182394, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of building materials, construction and commercial steel |
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No. of Employees : |
75 |
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) |
|
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 : ABU BAKER SALEM BAWAZEER & PARTNER CO
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 1st September 2008
Commercial Registration Number : 4030182394, Jeddah
Chamber Membership Number : 132493
Issued Capital : SR 4,000,000
Paid up Capital : SR 4,000,000
Total Workforce : 75
Activities : Distributors of building materials, construction and commercial steel
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
ABU BAKER SALEM BAWAZEER & PARTNER CO
Location : Macca Old Rd,
Kilo 8
PO Box : 30619
Town : Jeddah 21487
Country : Saudi Arabia
Telephone : (966-2) 2801430
/ 2801479 / 6216677
Facsimile : (966-2)
2801491 / 6217674
Email : bawazeer@asbsteel.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Jeddah.
Branch Offices
Location Description
· Al Jawhra Street Office
premises
Al Jawhra District
Jeddah
Tel: (966-2)
6254655
Fax: (966-2)
6204816
· Macca Old Road Office
premises
Jeddah
Tel: (966-2)
6239507
Fax: (966-2)
6239530
· Jeddah Warehouse
premises
Tel: (966-2)
2902166
Fax: (966-2)
2883177
Name Position
· Abu Baker Salem
Bawazeer Managing
Partner
· Abdul Samad Abu
Baker Salem Bawazeer Partner
Date of
Establishment : 29/08/1429 Hijri (corresponding to 1st September 2008)
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 4030182394, Jeddah
Chamber Member No. : 132493
Issued Capital : SR 4,000,000
Paid up Capital : SR 4,000,000
· Abu Baker Salem
Bawazeer
· Abdul Samad Abu
Baker Salem Bawazeer
Activities: Engaged in the import and distribution of building materials,
construction and commercial steel. Subject also acts as general contractors.
Import Countries: Europe and GCC countries.
Subject has a workforce of 75 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.
·
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.
During the course of this investigation nothing detrimental was
uncovered regarding subject’s operating history or the manner in which payments
are fulfilled. As such the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
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 |
|
-- |
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.