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Report Date : |
05.12.2014 |
IDENTIFICATION DETAILS
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Name : |
GULF STAR NET TRADING EST |
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Registered Office : |
Prince Mohammed Bin Fahd Street, PO Box 35019, Dammam 31488 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
22.09.2008 |
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Com. Reg. No.: |
2050062267 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import and distribution of general foodstuffs and
merchandise. |
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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 |
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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 :
GULF STAR NET TRADING EST
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
22nd September 2008
Commercial Registration Number :
2050062267, Dammam
Membership Number :
123484
Invested Capital :
SR 55,000
Total Workforce :
8
Activities :
Distributors of general foodstuffs and merchandise
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Person Interviewed :
Amin Makki Amin Al Talib, Proprietor & General Manager
GULF STAR NET TRADING EST
Registered &
Physical Address
Location : Prince
Mohammed Bin Fahd Street
PO Box : 35019
Town : Dammam 31488
Country : Saudi Arabia
Telephone : (966-13)
8331555 / 8341081
Facsimile : (966-13)
8343500
Mobile : (966-50)
5871253
Email : aminaltalib@hotmail.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dammam.
Name Position
Amin Makki Amin Al Talib Proprietor
& General Manager
Date of Establishment : 22nd
September 2008
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 2050062267,
Dammam
Membership No. : 123484
Invested Capital : SR 55,000
Mr Amin Makki Amin Al Talib is the sole proprietor of the business.
Activities: Engaged in the import and distribution of general foodstuffs and
merchandise.
Import Countries: Europe and the Far East.
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 9,375,000 SR 9,800,000
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: 13
Dammam 31411
Tel: (966-13) 8331188
Fax: (966-13) 8336058
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.61.88 |
|
|
1 |
Rs.97.02 |
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Euro |
1 |
Rs.76.13 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
TPT |
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 |
-- |
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.