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Report Date : |
08.10.2013 |
IDENTIFICATION DETAILS
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Name : |
MOHAMMAD A AL HAMRANI & CO INTERTRADE LTD |
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Registered Office : |
Al Madina Road Al Bawardi District PO Box 54736 Jeddah 21524 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
27.04.2002 |
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Com. Reg. No.: |
4030138261, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and distribution of automotive spare parts, heavy equipment and
industrial machinery. |
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No. of Employees : |
25 |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
Source
: CIA
Company Name : MOHAMMAD A AL HAMRANI & CO INTERTRADE LTD
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 27th April 2002
Commercial Registration Number : 4030138261, Jeddah
Membership Number : 84511
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Total Workforce : 25
Activities : Distributors of automotive spare parts, heavy equipment and industrial
machinery
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
MOHAMMAD A AL HAMRANI & CO INTERTRADE LTD
Street : Al Madina
Road
Area : Al Bawardi
District
PO Box : 54736
Town : Jeddah 21524
Country : Saudi Arabia
Telephone : (966-2) 6355524
/ 6978080 / 6065555
Facsimile : (966-2)
6355524
Mobile : (966-50)
5355514
Email : info@alhamrani.net
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Jeddah.
Name Position
· Sheikh Mohammad
Ali Al Hamrani Managing
Partner
· Sheikh Abdullah
Ali Al Hamrani Partner
Date of
Establishment : 14/02/1423 Hijri
(corresponding to 27th April 2002)
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 4030138261, Jeddah
Membership No. : 84511
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
· Sheikh Mohammad
Ali Al Hamrani
· Sheikh Abdullah
Ali Al Hamrani
Subject is a member of the Al Hamrani Group of Companies, which
comprises the following concerns:
· Al Hamrani
Industrial Group (AIG)
Industrial Estate,
Phase 1
PO Box: 7172
Jeddah 21462
Saudi Arabia
Tel: (966-2)
6360390
Fax: (966-2)
6375172
Email: aiginfo@alhamrani.net
· Al Hamrani Fuchs
Petroleum Saudi Arabia Ltd
Madinah Road, Kilo 11
PO Box: 7103 & 1229
Jeddah 21462
Tel: (966-2) 6635666
Fax: (966-2) 6633702
· Al Hamrani Trading
& Import Company
Jeddah
· Al Jabr Trading
Company
Jeddah
· Al Hamrani
Universal Company
Jeddah
· Al Hamrani
Chemical Company
Jeddah
· Al Hamrani Real
Estate Development
Jeddah
· Al Hamrani United
Co (AUC)
Jeddah
· Drum &
Industrial Packaging
Jeddah
· Al Hamrani Co For
Industry
Jeddah
· Al Hamrani Co For
Investment & Trade
Jeddah
Activities: Engaged in the import and distribution of automotive spare parts, heavy
equipment and industrial
machinery.
Import Countries: Europe and the Far East.
Subject has a workforce of 25 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.61.78 |
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|
1 |
Rs.99.06 |
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Euro |
1 |
Rs.83.84 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
-- |
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.