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Report Date : |
13.09.2013 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL BUSINESS RESOURCES EST |
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Registered Office : |
Prince Bandar Bin Abdulaziz Street, PO Box: 31852, Al Khobar 31952 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
29.05.2008 |
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Com. Reg. No.: |
2051037379 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged as construction contractors for building and civil
works. |
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No. of Employees : |
6 |
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) |
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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 :
INTERNATIONAL BUSINESS RESOURCES EST
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
29th May 2008
Commercial Registration Number :
2051037379, Al Khobar
Invested Capital :
SR 100,000
Total Workforce :
6
Activities :
Construction contractors
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
INTERNATIONAL BUSINESS RESOURCES EST
Registered &
Physical Address
Location : Prince Bandar
Bin Abdulaziz Street
PO Box : 31852
Town : Al Khobar
31952
Country : Saudi Arabia
Telephone : (966-13)
8816466
Facsimile : (966-13)
8816566
Mobile : (966-50) 3847053
/ 2566624
Email : icr_est@taacah.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Al Khobar.
Name Nationality Position
Khalid Hussain Pakistani Proprietor
& General Manager
Mohamed Khasif - Assistant
General Manager
Date of Establishment : 23/05/1429 Hijri
(corresponding to 29th May 2008)
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 2051037379, Al
Khobar
Invested Capital : SR 100,000
Mr Khalid Hussain is the sole proprietor of the business.
Activities: Engaged as
construction contractors for building and civil works.
Operating Trend: Steady
Subject has a workforce of 6 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
5,400,000 SR 5,800,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Saudi American Bank
Fluor Branch
PO Box: 842
Al Khobar 31952
Tel: (966-3) 8575503
No complaints regarding subject’s payments have been reported.
According to local sources, subject enjoys a good reputation for the
quality of its products with nothing detrimental uncovered regarding the manner
in which operations are conducted. As such the business is considered to be a
fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.67 |
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|
1 |
Rs.100.71 |
|
Euro |
1 |
Rs.84.72 |
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 |
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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.