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Report Date : |
04.09.2013 |
IDENTIFICATION DETAILS
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Name : |
ABDULLAH SIRAJ SHAMSUDIN EST |
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Registered Office : |
Mansoor Street, PO Box 25413,
Makkah |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
21.03.2012 |
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Com. Reg. No.: |
4031068145, Makkah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import and distribution of textile materials |
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No. of Employees : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
---- |
NB |
New
Business |
---- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 |
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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 :
ABDULLAH SIRAJ SHAMSUDIN EST
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
21st March 2012
Commercial Registration Number :
4031068145, Makkah
Invested Capital :
SR 30,000
Total Workforce :
4
Activities :
Distributors of textile materials
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Othman Ghullam Rasool, Sales Executive
ABDULLAH SIRAJ SHAMSUDIN EST
Location : Mansoor Street
PO Box : 25413
Town : Makkah
Country : Saudi Arabia
Mobile : (966-50) 7652564
Email : sjtexkasur@yahoo.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Makkah.
Name Position
· Abdullah Siraj Shamsudin Proprietor
& General Manager
· Ghullam Rasool Sales
Manager
· Othman Ghullam Rasool Sales
Executive
Date of
Establishment : 27/04/1433 Hijri
(corresponding to 21st March 2012)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 4031068145,
Makkah
Invested Capital : SR 30,000
Mr Abdullah Siraj Shamsudin is the sole
proprietor of the business.
Activities: Engaged in the import and distribution of textile materials.
Import Countries: Europe and the Far East.
Subject has a workforce of 4 employees.
Subject is a newly formed business and as a result
financial information is not currently available.
·
National Commercial Bank
Masfalah Branch
Makkah
Tel:
(966-2) 5367051
Fax:
(966-2) 5345457
No complaints regarding subject’s payments have been reported.
In view of subject’s infancy, extensive payment and financial are not
available, therefore dealings are recommended to be on secured terms, and a
close monitoring of subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.66.88 |
|
UK Pound |
1 |
Rs.103.94 |
|
Euro |
1 |
Rs.88.09 |
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 |
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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 |
|
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.