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Report Date : |
31.12.2014 |
IDENTIFICATION DETAILS
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Name : |
THIMAR AL BUSTAN TRADING & CONTRACTING CO
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 (Estimated) |
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Date of Incorporation : |
26.12.2005 |
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Com. Reg. No.: |
1010212534, |
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Legal Form : |
Limited Partnership |
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Line of Business : |
Engaged in the import and distribution of rice in quantities of between 1Kg to 40Kg. |
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No. of Employees |
15 |
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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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
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.
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Source
: CIA |
Company Name : THIMAR AL BUSTAN TRADING & CONTRACTING CO
Country of Origin : Saudi Arabia
Legal Form : Limited Partnership
Registration Date : 26th December 2005
Commercial Registration Number : 1010212534, Riyadh
Chamber Membership Number : 163164
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Total Workforce : 15
Activities : Distributors of rice.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
THIMAR AL BUSTAN TRADING & CONTRACTING
CO
Registered &
Physical Address
Street : South Ring Road
Area : Al Azizya District
PO Box : 43070
Town : Riyadh 11561
Country : Saudi Arabia
Telephone : (966-1) 2134646 / 2134846
/ 4984087
Facsimile : (966-1) 4383180 / 4982383
Mobile : (966-50) 6877030 / 4217205 / (966-55) 8480430
Email : thimaralbustan@yahoo.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Riyadh.
Name Position
·
Abdul Mohsin Saleh Aba Hussain Managing
Partner
·
Saleh Abdul Mohsin
Saleh Aba Hussain Partner
·
Mohamed
Asif Accountant
Date of Establishment : 26th
December 2005
Legal Form :
Limited Partnership
Commercial Reg. No. : 1010212534,
Riyadh
Chamber Member No. : 163164
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Name of Partner (s)
·
Abdul Mohsin Saleh Aba Hussain
·
Saleh Abdul Mohsin
Saleh Aba Hussain
Activities: Engaged in the import and distribution of
rice
in quantities of between 1Kg to 40Kg.
Import
Countries: Sri Lanka, India
and Pakistan.
International
Suppliers:
·
Merchant Jagdish Export Ltd India
·
Oryza (Pvt) Ltd Pakistan
Operating Trend: Steady
Subject has a
workforce of 15 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 8,135,000 SR 8,400,000
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 (ANB)
King Faisal Street
North Morabbaa
PO Box: 56921
Riyadh 11564
Tel: (966-1) 4029000
Fax: (966-1) 4027747
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.75 |
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UK Pound |
1 |
Rs.99.88 |
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Euro |
1 |
Rs.77.32 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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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.