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Report Date : |
23.09.2013 |
IDENTIFICATION DETAILS
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Name : |
SALEH SAAD AL
OTAIBI TRADING EST |
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|
|
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Registered Office : |
Bel Sharaf Centre,
Al Heraj Street, 9495 Jeddah 21413 |
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|
|
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
19.04.2004 |
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|
|
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Com. Reg. No.: |
4030148702,
Jeddah |
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Legal Form : |
Sole Proprietorship |
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|
|
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Line of Business : |
Import and
distribution of dried foodstuffs, including pulses, soya, beans, lentils and
spices. |
|
|
|
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No. of Employees : |
5 |
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 |
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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 : SALEH SAAD
AL OTAIBI TRADING EST
Doing Business As : SALEH TRADING
EST
Country of Origin : Saudi
Arabia
Legal Form :
Sole Proprietorship
Registration Date : 19th
April 2004
Commercial
Registration Number :
4030148702, Jeddah
Chamber Membership
Number : 97929
Invested Capital : SR 70,000
Total Workforce : 5
Activities :
Distributors of dried foodstuffs.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Mostafa, Assistant General Manager
SALEH SAAD AL
OTAIBI TRADING EST
DOING
BUSINESS AS: SALEH
TRADING EST
Building : Bel Sharaf Centre
Street : Al Heraj Street
PO Box : 9495
Town : Jeddah 21413
Country : Saudi Arabia
Telephone : (966-2) 6368847 / 6360803
Facsimile : (966-2) 6373830 / 6361102
Mobile : (971-50) 3013717
Email : salehfoodest@yahoo.com
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Jeddah.
Name Position
·
Saleh Saad
Matrik Al Osaimi Al Otaibi Proprietor
& General Manager
·
Mohamed Mostafa Assistant
General Manager
·
Imran Khan Sales
Manager
Date of Establishment : 29/02/1425
Hijri (corresponding to 19th April 2004)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030148702,
Jeddah
Chamber Member No. : 97929
Invested Capital
: SR 70,000
Mr Saleh Saad
Matrik Al Osaimi Al Otaibi is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
dried foodstuffs, including pulses, soya, beans, lentils and spices.
Import
Countries: Europe, Thailand
and Pakistan.
International Suppliers:
·
Lakhseeta Food Thailand
·
Ghousia Food Pakistan
·
Fadal Enterprises for Food Pakistan
Brand Names: SUPA ROWZANA
Operating Trend: Steady
Subject has a
workforce of 5 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 9,150,000 SR 9,600,000
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
King Abdul Aziz Street
PO Box: 3555
Jeddah 21481
Tel: (966-2) 6446644
Fax: (966-2) 6446644
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.24 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.84.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.