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Report Date : |
14.11.2013 |
IDENTIFICATION DETAILS
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Name : |
REYADA TECHNOLOGY EST |
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Registered Office : |
Gulf Commercial Centre, Office No.
103, Olaya District, PO Box :56408,
Riyadh 11554 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
13.07.2005 |
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Com. Reg. No.: |
1010211135, Riyadh |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Providers of information technology and turnkey project solutions |
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No. of Employees : |
20 |
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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Maximum Credit Limit: |
US$ 150,000 |
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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 |
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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 $373
billion between 2010 and 2014 on social development and infrastructure projects
to advance Saudi Arabia''s economic development.
|
Source
: CIA |
Company Name :
REYADA TECHNOLOGY EST
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
13th July 2005
Commercial Registration Number :
1010211135, Riyadh
Chamber Membership Number :
158827
Invested Capital :
SR 200,000
Total Workforce : 20
Activities :
Providers of information technology and turnkey project solutions
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Recommended Credit Limit :
US$ 150,000
Person Interviewed :
Mohamed Abdullah, Assistant General Manager
REYADA TECHNOLOGY EST
Registered &
Physical Address
Building : Gulf
Commercial Centre, Office No. 103
Area : Olaya
District
PO Box :
56408
Town : Riyadh 11554
Country : Saudi Arabia
Telephone : (966-1) 4661289
/ 4627149
Facsimile : (966-1)
4632917
Email : info@reyadatec.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Riyadh.
Name Position
Bander Abdulrahman Al Mubarak Proprietor
& General Manager
Mohamed Abdullah Assistant
General Manager
Date of Establishment : 13th
July 2005
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 1010211135,
Riyadh
Chamber Member No. : 158827
Invested Capital : SR 200,000
Mr Bander Abdulrahman Al Mubarak is the sole proprietor of the business.
Activities: Engaged in the provision of information
technology and turnkey project solutions. Subject’s services include data
centre preparation and implementation, IT consultancy, IT outsourcing, network
design and implementation, RTECH Spectrum support services, systems integration
solutions, transformative solutions, low current solutions, data and physical
security, video conference solutions, VOIP, GPS and monitoring environment
solutions.
Import Countries: Europe
and the Far East.
International Suppliers:
Network Global India
Brand Names: HP, EATON, JUNIPER, TOSHIBA,
JACARTA, PATTON, APC, BITDEFENDER, HONEYWELL, LENOVO, SIEMENS, F5, MICROSOFT,
UNIX, EMC, BROCADE, TYCO ELECTRONICS, 3COM, INTERCALL, SCHNEIDER ELECTRIC,
AVAYA, CORNING, CISCO, PELCO, IBM, BLUE COAT, 3D CONNEXION, SONICWALL and INTEL
Subject has a workforce of 20 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.
Riyad Bank
King Abdul Aziz Road
PO Box: 22622
Riyadh 11416
Tel: (966-1) 4013030
No complaints regarding subject’s payments have been reported.
Recommended credit limit: US$
150,000
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.45 |
|
|
1 |
Rs.101.17 |
|
Euro |
1 |
Rs.85.55 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
<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.