MIRA INFORM REPORT

Report Date :

24.05.2013

IDENTIFICATION DETAILS

Name :	ABEER AL GHADA FOR CONTRACTING EST

Registered Office :	Kingdom Tower, 25^th Floor, Olaya Main Street, PO Box 295085, Riyadh 11351

Country :	Saudi Arabia

Financials (as on) :	31.12.2012

Date of Incorporation :	27.11.1990

Com. Reg. No.:	1010209538, Riyadh

Legal Form :	Sole Proprietorship

Line of Business :	Distributors of recycled plastic materials

No. of Employees :	50

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	US$ 150,000
Status :	Satisfactory
Payment Behaviour :	No Complaints
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 31^st, 2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Saudi Arabia

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
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

SUMMARY

Company Name : ABEER AL GHADA FOR CONTRACTING EST

Country of Origin : Saudi Arabia

Legal Form : Sole Proprietorship

Registration Date : 27^th November 1990

Commercial Registration Number : 1010209538, Riyadh

Membership Number : 216048

Invested Capital : SR 100,000

Total Workforce : 50

Activities : Distributors of recycled plastic materials

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

Recommended Credit Limit : US$ 150,000

Person Interviewed : Mohamed Munir Malik, Commercial Manager

COMPANY NAME

ABEER AL GHADA FOR CONTRACTING EST

ADDRESS

Registered & Physical Address

Location : Kingdom Tower, 25^th Floor

Street : Olaya Main Street

PO Box : 295085

Town : Riyadh 11351

Country : Saudi Arabia

Telephone : (966-1) 2111237 / 2111239

Facsimile : (966-1) 2111238

Mobile : (966-55) 9799909 / (966-50) 5247858

Email : munirmalik1@hotmail.com / abeertrade@hotmail.com

Premises

Subject operates from a medium sized suite of offices that are rented and located in the Central Business Area of Riyadh.

KEY PRINCIPALS

Name Position

· Turki Abdulaziz Abdul Dyem Proprietor & General Manager

· Mohamed Munir Malik Commercial Manager

· Fareed Hassan Administration Manager

LEGAL FORM & OWNERS

Date of Establishment : 09/05/1411 Hijri (corresponding to 27^th November 1990)

Legal Form : Sole Proprietorship

Commercial Reg. No. : 1010209538, Riyadh

Membership No. : 216048

Invested Capital : SR 100,000

Mr Turki Abdulaziz Abdul Dyem is the sole proprietor of the business.

AFFILIATED COMPANIES

· Abeer Al Ghada for Plastic

Kingdom Tower

Olaya Main Street

PO Box: 295085

Riyadh 11351

Tel: (966-1) 2111237

Fax: (966-1) 2111239

CR No. 1010311402

OPERATIONS

Activities: Engaged in the import and distribution of recycled plastic materials.

Import Countries: Europe and the Far East.

Operating Trend: Steady

Subject has a workforce of 50 employees.

FINANCIAL DATA

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 14,600,000 SR 15,200,000

Local sources consider subject’s financial condition to be Fair.

The above financial figures are based on estimations by our local sources.

BANKERS

· National Commercial Bank

Malaz Branch

PO Box: 42536

Riyadh 11551

Tel: (966-1) 4776450

Fax: (966-1) 4769502

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

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 business is considered to be a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.99
UK Pound	1	Rs.84.18
Euro	1	Rs.71.86

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
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
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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.