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Report Date : |
27.11.2014 |
IDENTIFICATION DETAILS
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Name : |
SAEED MOHAMED BIN
MAJLI EST |
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Registered Office : |
Al Quds Market, 1st
Floor, Office No. 340, P O Box: 1765, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
25.09.1990 |
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Com. Reg. No.: |
1010069023, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesalers and
Retailers of Textiles |
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No. of Employees : |
8 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Saudi Arabia |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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 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.
|
Source
: CIA |
Company Name : SAEED MOHAMED BIN MAJLI EST
Country of Origin : Saudi
Arabia
Legal Form :
Sole Proprietorship
Registration Date : 25th
September 1990
Commercial
Registration Number :
1010069023, Riyadh
Membership Number : 12439
Invested Capital : SR 40,000
Total Workforce : 8
Activities :
Wholesalers and retailers of textiles
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
SAEED MOHAMED BIN
MAJLI EST
Location : Al Quds Market, 1st
Floor, Office No. 340
PO Box : 1765
Town : Riyadh 11441
Country : Saudi Arabia
Telephone : (966-1) 4596917 / 4512291
Facsimile : (966-1) 4591815
Mobile : (966-56) 0085545
Email : ahamadhilux@hotmail.com
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Riyadh.
Name Position
·
Saeed
Mohamed Bin Majli Proprietor
& General Manager
·
Ahmad
Saeed Mohamed Bin Majli Assistant
General Manager
·
Abdul
Qader Abdulrahman Sales
Executive
Date of Establishment : 25th
September 1990
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010069023,
Riyadh
Membership No. : 12439
Invested Capital
: SR 40,000
Mr Saeed Mohamed
Bin Majli is the sole proprietor of the business.
Activities: Engaged in the wholesale and retail of
textiles.
Import
Countries: Europe and India
International Suppliers:
·
Poogan International India
·
Sanjay Trading India
Operating Trend: Steady
Subject has a
workforce of 8 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 Sales SR 12,560,000 SR 13,000,000
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
Malaz Branch
PO Box: 42536
Tel: (966-1) 4776450
Fax: (966-1) 4769502
No complaints
regarding subject’s payments have been reported.
Please note that
the correct name of the subject is “Saeed Mohamed Bin Majli Est” and not “Bin
Majeli”.
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.61.87 |
|
|
1 |
Rs.96.83 |
|
Euro |
1 |
Rs.76.57 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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 |
-- |
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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.