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Report Date : |
23.12.2014 |
IDENTIFICATION DETAILS
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Name : |
ABDUL KARIM YAHYA
MUNSHI EST |
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Registered Office : |
Zamani Building, Al Dhahab Street, Al Balad
District, P O Box: 3077, Jeddah
21471 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
25.10.1977 |
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Com. Reg. No.: |
4030013281, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesalers and
retailers of electrical equipment, batteries, lamps, biomedical tools,
medical and scientific equipment. |
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No. of Employees : |
45 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 : ABDUL
KARIM YAHYA MUNSHI EST
Country of Origin : Saudi
Arabia
Legal Form :
Sole Proprietorship
Registration Date : 25th
October 1977
Commercial
Registration Number : 4030013281,
Jeddah
Membership Number : 3563
Invested Capital :
SR 150,000
Total Workforce : 45
Activities :
Wholesalers and retailers of electrical equipment, batteries, lamps,
biomedical tools, medical and scientific
equipment.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Abdul
Karim Yahya Munshi, Proprietor
& General Manager
ABDUL KARIM YAHYA
MUNSHI EST
Building : Zamani Building
Street : Al Dhahab Street
Area : Al Balad District
PO Box : 3077
Town : Jeddah 21471
Country : Saudi Arabia
Telephone : (966-2) 6477401 / 6477273 / 6690455
Facsimile : (966-2) 6481221 / 6676068
Mobile : (966-50) 5623994
Email : akymest@gmail.com / info@arabentgrp.com
Subject operates
from a medium sized suite of offices and a showroom that are rented and located
in the Central Business Area of Jeddah.
Branch Offices
Location Description
·
Al Tahlia Office
premises
Jeddah
Tel: (966-2) 6721883
·
Al Sitteen Street Office
premises
Jeddah
Tel: (966-2) 6690455
·
Macca Road, Kilo 4 Office
premises
Jeddah
Tel: (966-2)
6024010
·
Riyadh Office
premises
Tel: (966-1) 4741847
·
Dammam Office
premises
Tel: (966-3) 8676056
Name Position
·
Abdul Karim Yahya Munshi Proprietor
& General Manager
·
Rayyan Abdul Karim Yahya Munshi Assistant
General Manager
·
Mohamed Qaiser Sales
Manager
Date of Establishment : 12/11/1397
Hijri (corresponding to 25th October 1977)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030013281,
Jeddah
Membership No. : 3563
Invested Capital
: SR 150,000
Mr Abdul
Karim Yahya Munshi is the sole
proprietor of the business.
Activities: Engaged in the wholesale and retail of
electrical equipment, batteries, lamps, biomedical tools, medical and
scientific equipment.
Import
Countries: Japan, China and
the United States of America.
Agencies Held:
·
Techno Bulb United
States of America
·
Peacock Hirdai Japan
·
Nikai China
Operating Trend: Steady
Subject has a
workforce of 45 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 18,550,000 SR 18,915,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Arab
National Bank
Madinah Road
PO Box: 9463
Jeddah 21413
Tel: (966-2) 6600272
Fax: (966-2) 6650202
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.63.18 |
|
|
1 |
Rs.98.85 |
|
Euro |
1 |
Rs.77.42 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
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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 |
|
|
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.