|
Report Date : |
13.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
MAJD AL MOAYAD EQUIPMENT RENTAL EST |
|
|
|
|
Formerly Known As : |
MAJD AL MOAYAD EST |
|
|
|
|
Registered Office : |
Ibn Al Ameed Street, Al Sulai Area, PO Box: 58143, Riyadh 11594 |
|
|
|
|
Country : |
Saudi Arabia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
18.07.2006 |
|
|
|
|
Com. Reg. No.: |
1010221449 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Distributors and rental of construction equipment, machinery and tools |
|
|
|
|
No. of Employees : |
6 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 :
MAJD AL MOAYAD EQUIPMENT RENTAL EST
Also Known As :
MAJD AL MOAYAD EST
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
18th July 2006
Commercial Registration Number :
1010221449, Riyadh
Chamber Membership Number :
168911
Invested Capital :
SR 100,000
Total Workforce :
6
Activities :
Distributors and rental of construction equipment, machinery and tools
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
MAJD AL MOAYAD EQUIPMENT RENTAL EST
MAJD
AL MOAYAD EST
Registered &
Physical Address
Street : Ibn Al Ameed
Street
Area : Al Sulai
Area
PO Box : 58143
Town : Riyadh 11594
Country : Saudi Arabia
Telephone : (966-1) 2440325
/ 2440326 / 2436282
Facsimile : (966-1)
2415538 / 2434526
Mobile : (966-50)
4536877 / 3232445 / 3039353
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Riyadh.
Name Position
Mohamed Butti Al Subai Proprietor
& General Manager
Date of Establishment : 18th
July 2006
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 1010221449,
Riyadh
Chamber Member No. : 168911
Invested Capital : SR 100,000
Mr Mohamed Butti Al Subai is the sole proprietor of the business.
Activities: Engaged in the import,
distribution and rental of construction equipment, machinery and tools.
Import Countries: Europe
and the Far East.
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
9,250,000 SR
9,610,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
National Commercial Bank
Airport Road
PO Box: 2800
Riyadh 11461
Tel: (966-1) 4772281
Fax: (966-1) 4730322
No complaints regarding subject’s payments have been reported.
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.63.67 |
|
|
1 |
Rs.100.71 |
|
Euro |
1 |
Rs.84.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
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 |
|
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.