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Report Date : |
30.05.2013 |
IDENTIFICATION DETAILS
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Name : |
QURAISH TRADING CO LTD |
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|
|
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Registered Office : |
Adham Commercial
Centre, 7th Floor, Madinah Road, P O Box 646 & 2052, Jeddah
21421 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
01.01.1996 |
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Com. Reg. No.: |
4030116783, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of foodstuffs, healthcare products, household consumables, agricultural equipment and pesticides |
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No. of Employees : |
68 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 |
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|
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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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Saudi Arabia |
A2 |
A2 |
|
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 $373 billion between
2010 and 2014 on social development and infrastructure projects to advance
Saudi Arabia's economic development.
|
Source : CIA |
Company Name : QURAISH TRADING CO LTD
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 1st January 1996
Commercial Registration Number : 4030116783, Jeddah
Chamber Membership Number : 61592
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Total Workforce : 68
Activities : Distributors of foodstuffs, healthcare products, household consumables,
agricultural equipment and pesticides
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 150,000
QURAISH TRADING CO
LTD
Registered &
Physical Address
Building : Adham Commercial Centre, 7th
Floor
Street : Madinah Road
PO Box : 646 & 2052
Town : Jeddah 21421
Country : Saudi Arabia
Telephone : (966-2) 6532441 / 6533009 / 6500809
Facsimile : (966-2) 6535016 / 6530033 / 6533009
Email : kalquraishi@quraish.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Jeddah.
Branch Offices
Location Description
·
PO Box:
1954 Office
premises
Riyadh 11441
Tel: (966-1) 4021519
Fax: (966-1) 4035302
·
PO Box:
1534 Office
premises
Al Khobar 31952
Tel: (966-3) 8951976
Fax: (966-3) 8638766
Name Position
·
Hassain
Mohsen Al Quraish Managing
Partner
·
Khalid
Hassain Mohsen Al Quraish Partner
·
Magdi Khalil Financial
Controller
·
Abdullah
Tashkandi Supply
Chain Manager
·
Hatem
Hassan Chief
Financial Officer
·
Anwar
Abdullah Administration
Manager
Date of Establishment : 10/08/1416
Hijri (corresponding to 1st January 1996)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030116783,
Jeddah
Chamber Member No. : 61592
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Name of Partner
(s)
·
Hassain
Mohsen Al Quraish
·
Khalid
Hassain Mohsen Al Quraish
·
Quraishi
Trading Est
Adham Commercial Centre, 7th Floor
Madinah Road
PO Box: 2052
Jeddah 21451
Tel: (966-2) 6532441 / 6533009
Fax: (966-2) 6535016
Activities: Engaged in the import and distribution of
foodstuffs, healthcare products, household consumables,
agricultural equipment and
pesticides.
Import
Countries: Europe and GCC
countries.
International Suppliers:
·
Johnson
Inc
·
Bayer
·
Gloria
·
Swingtec
·
Retroflect
·
Apollo
·
Ebia
·
Bel
Normande
·
Borges
·
Seal On
·
Bissell
·
Tonkita
·
Schulpen
·
Rubbermaid
·
Curver
·
Ecocell
·
Alfi
·
Soft
Scrub
·
Renuzit
Operating Trend: Steady
Subject has a
workforce of 68 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 Revenue SR 17,490,000 SR 18,125,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local 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.56.24 |
|
UK Pound |
1 |
Rs.84.54 |
|
Euro |
1 |
Rs.72.32 |
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 |
|
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.