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Report Date : |
14.11.2013 |
IDENTIFICATION DETAILS
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Name : |
JAZI AL OTAIBI SONS TRADING AND CONTRACTING COMPANY |
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Registered Office : |
Dammam Riyadh Highway, PO Box 42604 & 46777, Riyadh 11551 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
02.12.1978 |
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Com. Reg. No.: |
1010023596, Riyadh |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subjects operations are performed through the following divisions ·
Trading Division Engaged in the import
and distribution of tents, rugs, camping and upholstery equipment. ·
Contracting Division Engaged in the provision of contractors for general construction, building and
road works. ·
Sewage and Drainage Division Engaged in the provision of contractors for
drainage services and sewage works. ·
Communication Services Division Engaged in the provision of contractors
for the fabrication of communication towers. |
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No. of Employees : |
145 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
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) |
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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 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.
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Source : CIA |
Company Name :
JAZI AL OTAIBI SONS TRADING AND CONTRACTING COMPANY
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Partnership
Registration Date :
2nd December 1978
Commercial Registration Number :
1010023596, Riyadh
Chamber Membership Number :
14160
Issued Capital :
SR 500,000
Paid up Capital :
SR 500,000
Total Workforce :
145
Activities :
Subject operates several divisions (see below for details)
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Adil Jazi Mazyed Al Otaibi, Managing Partner
JAZI AL OTAIBI SONS TRADING AND CONTRACTING COMPANY
Location :
Dammam Riyadh Highway
PO Box :
42604 & 46777
Town :
Riyadh 11551
Country :
Saudi Arabia
Telephone :
(966-1) 2486565 / 2341873
Facsimile :
(966-1) 2485114 / 2302776
Email :
adiljazi@gmail.com
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Riyadh.
Name Position
· Adil Jazi Mazyed
Al Otaibi Managing
Partner
· Mazyed Jazi Mazyed
Al Otaibi Partner
· Mohana Jazi Mazyed
Al Otaibi Partner
Date of
Establishment : 01/01/1399 Hijri
(corresponding to 2nd December 1978). Subject changed legal form
from a Sole Proprietorship to a
Limited Liability Partnership in 2009.
Legal Form :
Limited
Liability Partnership
Commercial Reg.
No. : 1010023596,
Riyadh
Chamber Member No. : 14160
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
· Adil Jazi Mazyed
Al Otaibi
· Mazyed Jazi Mazyed
Al Otaibi
· Mohana Jazi Mazyed
Al Otaibi
Activities: Subjects operations are performed through the following divisions:
·
Trading Division
Engaged in the
import and distribution of tents, rugs, camping and upholstery equipment.
·
Contracting Division
Engaged in the provision of contractors for general construction, building and road
works.
·
Sewage and Drainage Division
Engaged in the provision of contractors for drainage services and sewage
works.
·
Communication Services Division
Engaged in the provision of contractors for
the fabrication of communication towers.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 145 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
104,000,000 SR
110,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Adil Jazi Mazyed Al Otaibi,
Managing Partner
·
Al Rajhi Banking & Investment Corporation
PO Box: 28
Riyadh 11411
Tel: (966-1)
4054647 / 4054244
Fax: (966-1)
4044753 / 4052950
No complaints regarding subject’s payments have been reported.
Local sources report that subject meets its payments in a timely manner
and is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.63.65 |
|
UK Pound |
1 |
Rs.101.16 |
|
Euro |
1 |
Rs.85.55 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
RATING EXPLANATIONS
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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 |
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NB |
New Business |
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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%)