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Report Date : |
05.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
ARRIYADH
DEVELOPMENT AUTHORITY |
|
|
|
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Registered Office : |
Kindy Plaza, Embassy Street, Diplomatic Quarter, 94501, Riyadh 11614 |
|
|
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Country : |
Saudi Arabia |
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Date of Incorporation : |
18.06.1974 |
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Legal Form : |
Government Corporation |
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Line of Business : |
Engaged in the planning, control, co-ordination and implementation of
the basic infrastructure projects in Riyadh. |
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No of Employees : |
110 |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 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 $373 billion between 2010 and 2014 on
social development and infrastructure projects to advance Saudi Arabia's
economic development.
|
Source
: CIA |
Company Name : ARRIYADH DEVELOPMENT AUTHORITY
Country of Origin : Saudi Arabia
Legal Form : Government Corporation
Registration Date : 18th June 1974
Decree Number : 717
Issued Capital : SR 1,000,000,000
Paid up Capital : SR 1,000,000,000
Total Workforce : 110
Activities : Planning, control, co-ordination and implementation of the basic
infrastructure projects in Riyadh.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
ARRIYADH DEVELOPMENT AUTHORITY
Building : Kindy Plaza
Street : Embassy
Street
Area : Diplomatic
Quarter
PO Box : 94501
Town : Riyadh 11614
Country : Saudi Arabia
Telephone : (966-1) 4883331
Facsimile : (966-1)
4880442
Email : info@arriyadh.com
/ info@ada.gov.sa
Subject operates from a medium sized suite of offices that are owned and
located in the Central Business Area of Riyadh.
Name Position
· Prince Turki Bin Abdullah Bin Abdulaziz Al Saud President
· Abdullatif Bin
Abdulmalik Alshaikh Chief
Executive Officer
· Ibrahim Bin Mohamed Al Sultan Assistant
General Manager
· Mohamed Faye Al
Shaharani Finance
Manager
Date of
Establishment : 28/05/1394 Hijri
(corresponding to 18th June 1974)
Legal Form : Government
Corporation
Decree No. : 717
Issued Capital : SR 1,000,000,000
Paid up Capital : SR 1,000,000,000
· Government of
Saudi Arabia
Activities: Engaged in the planning, control, co-ordination and implementation of
the basic infrastructure projects in Riyadh.
It is responsible also for drawing policies and
procedures aiming to raise the efficiency of services and facilities connected
with raising the living standard of citizens and their welfare.
In July 2013, subject awarded US$ 22bn in contracts to three consortiums
for the design and construction of a new automated metro system in Riyadh.
Subject has a workforce of 110 employees.
Companies registered in Saudi Arabia are not legally required to make
their accounts public and no financial information was released by the company
or submitted by outside sources.
·
National Commercial Bank
Malaz Branch
PO Box: 42536
Riyadh 11551
Tel: (966-1)
4776450
Fax: (966-1)
4769502
Regular
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 company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.88 |
|
|
1 |
Rs.97.02 |
|
Euro |
1 |
Rs.76.13 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
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.