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Report Date : |
05.12.2014 |
IDENTIFICATION DETAILS
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Name : |
BLACK ARROW
TRADING EST |
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Registered Office : |
6th Cross,
King Fahd Street, Khobar Shimalia, P O Box: 70453 & 20228, Al Khobar
31952 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
26.10.2010 |
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Com. Reg. No.: |
2051044037, Al
Khobar |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subjects
operations are performed through the following divisions: ·
General
Trading Division Engaged in the import and distribution of construction materials,
aluminium, PVC & PU pipe, paints, glass and doors. ·
Contracting
Division Engaged in the
provision of information technology, communication and security system
installation and networking. |
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No. of Employees : |
17 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
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 : BLACK
ARROW TRADING EST
Country of Origin : Saudi
Arabia
Legal Form :
Sole Proprietorship
Registration Date : 26th
October 2010
Commercial Registration
Number : 2051044037, Al Khobar
Chamber Membership
Number : 147037
Invested Capital : SR 20,000
Total Workforce : 17
Activities :
Subject operates through subjects divisions (see below for details)
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Arshad Khan,
Operations Manager
BLACK ARROW TRADING
EST
Street : 6th Cross, King Fahd
Street
Area : Khobar Shimalia
PO Box : 70453 & 20228
Town : Al Khobar 31952
Country : Saudi Arabia
Telephone : (966-13) 8940574
Facsimile : (966-13) 8941025
Mobile : (966-50) 6862573 / (966-59)
0774807
Email : info@blackarrow-ksa.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Al Khobar.
Name Position
·
Ms
Mahmoudah Mohamed Rafiq Ali Proprietor
·
Adnan
Qamar General
Manager
·
Arshad
Khan Operations
Manager
Date of Establishment : 26th
October 2010
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 2051044037,
Al Khobar
Chamber Member No. : 147037
Invested Capital
: SR 20,000
Ms Mahmoudah
Mohamed Rafiq Ali is the sole proprietor of the business.
Activities: Subjects operations are performed through
the following divisions:
·
General
Trading Division
Engaged in the import and distribution of
construction materials, aluminium, PVC & PU pipe, paints, glass and doors.
·
Contracting
Division
Engaged in the provision of information technology, communication and
security system installation and networking.
Import
Countries: Europe and GCC
countries.
Local Suppliers:
·
Ali Al
Otail IT Co Saudi Arabia
·
Al
Faris Trading Saudi
Arabia
·
Al
Mabani Steel Co Saudi Arabia
·
Compubound Saudi Arabia
Operating Trend: Steady
Subject has a
workforce of 17 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 9,380,000 SR 10,100,000
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
PO Box: 1
Al Khobar 31952
Tel: (966-13) 8949669
Fax: (966-13) 8646474
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
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 |
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|
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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 |
|
|
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 |
|
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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.