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Report Date : |
23.04.2014 |
IDENTIFICATION DETAILS
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Correct Name : |
SAAD HUSSEIN SULTAN ALHASANIAH EST |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
12.10.1969 |
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Com. Reg. No.: |
5855000026, Khamis Mushait |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
importer and distributor of building materials,
paint, decoration materials, steel and timber products. |
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No of Employees : |
15 |
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 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
saudi arabia ECONOMIC OVERVIEW
Saudi Arabia has an oil-based economy with strong government controls over major economic activities. It possesses about 16% 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 6 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 |
Concern Name : SAAD HUSSEIN SULTAN ALHASANIAH EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 12th October 1969
Commercial Registration Number : 5855000026, Khamis Mushait
Chamber Membership Number : 1086
Invested Capital : SR 100,000
Total Workforce : 15
Activities : Distributors of building materials, paint, decoration materials, steel and
timber products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mamdouh Farag Hegaz, Financial Controller
SAAD HUSSEIN SULTAN
ALHASANIAH EST
Registered &
Physical Address
Location : Khamis Abha Main Street
PO Box : 943
Town : Khamis
Mushait 61961
Country : Saudi Arabia
Telephone : (966-7) 2236080 / 2237298
Facsimile : (966-7) 2237298 / 2223557
Email : a_alhasaniah@hotmail.com
Premises
Subject operates
from a small suite of offices and a warehouse that are owned and located in the
Central Business Area of Khamis Mushait.
Branch Office (s)
Location Description
·
Jeddah Office
premises
Tel: (966-2) 6488999 / 6847444
Fax: (966-2) 6488666
Name Position
·
Saad Hussein
Sultan Alhasaniah Proprietor
& General Manager
·
Ali Saad Hussein Sultan Alhasaniah Assistant
General Manager
·
Mohamed
Abu Al Mati Sales
Manager
·
Mohamed Al Amouie Commercial
Manager
·
Mamdouh Farag Hegaz Financial
Controller
Date of Establishment : 30/07/1389 Hijri (corresponding to 12th October 1969)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 5855000026, Khamis Mushait
Chamber Member No. : 1086
Invested Capital
: SR 100,000
Mr. Saad Hussein Sultan Alhasaniah is
the sole proprietor of the business.
Activities: Engaged in the import and distribution of
building materials, paint, decoration materials, steel and timber products.
Import
Countries: Europe, China
and South Korea.
International Suppliers:
· Metrotile Belgium
· Linyi Best Industries
Ltd China
·
Rosar South
Korea
·
Operating Trend: Steady
Subject has a
workforce of 15 employees.
Financial
highlights provided by local sources are given below:
Currency: Saudi
Riyals (SR)
Year
Ending 31/12/12: Year
Ending 31/12/13:
Total Revenue SR 8,910,000 SR 9,317,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Saudi
British Bank
Nadjran Street
PO Box: 1846
Khamis Mushait
Tel: (966-7) 2222302
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.71 |
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1 |
Rs.102.04 |
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Euro |
1 |
Rs.83.77 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
MNL |
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.