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Report Date : |
06.02.2014 |
IDENTIFICATION DETAILS
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Name : |
MULTI BRANDS FOR TRADING CO LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Year of Establishments: |
2006 |
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Com. Reg. No.: |
1010219558, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject’s
operations are performed through the following divisions: Retail Division Engaged in the retail of bakery products. Food Division Engaged in the import and distribution of general foodstuff products. Cosmetics Division Engaged in the
import and distribution of cosmetics. |
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No. of Employees : |
80 |
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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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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 17% 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 5 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 : MULTI BRANDS FOR TRADING CO LTD
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Company
Registration Date : 2006
Commercial Registration Number : 1010219558, Riyadh
Chamber Membership Number : 166767
Issued Capital : SR 1,000,000
Paid up Capital : SR 1,000,000
Total Workforce : 80
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Tariq Basheer, Finance Manager
MULTI BRANDS FOR
TRADING CO LTD
Registered &
Physical Address
Street : Istanbul Street, Exit 18
Area : Sulay Area
PO Box : 250325
Town : Riyadh 11391
Country : Saudi Arabia
Telephone : (966-1) 4717072 / 4717900 / 4717778
Facsimile : (966-1) 4712002
Email : info@multi-brands.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Central Business Area of Riyadh.
Branch Office
(s)
Location Description
·
Al Mina
Building, 1st Floor Office
premises
Mina Street
Hindawiah
Jeddah
Tel: (966-2) 6470442 / 6470443
Fax: (966-2) 6470447
Email: infoj@multi-brands.com
Name Position
·
Fawzan
Saud Abdulaziz Al Fawzan Managing
Director
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Bilal
Ahmed Al Khateeb General
Manager
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Tariq Basheer Finance
Manager
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Hassan
Jabek Commercial
Manager
Date of Establishment : 2006
Legal Form :
Limited Liability Company
Commercial Reg. No. : 1010219558,
Riyadh
Chamber Member No. : 166767
Issued Capital : SR 1,000,000
Paid up Capital : SR 1,000,000
Name of Shareholder
(s) Percentage
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Sedita
Holding 75%
Safat
Kuwait
·
Fawzan Saud
Abdulaziz Al Fawzan 25%
Activities: Subject’s operations are performed through
the following divisions:
·
Retail Division
Engaged in the retail of
bakery products.
·
Food Division
Engaged in the import and distribution
of general foodstuff products.
·
Cosmetics Division
Engaged in the import and distribution of cosmetics.
Import Countries: Europe and GCC countries.
Brand Names: ALDIA, MASTER MARTINI, PREGEL, DCL, DANA,
ELSADA, FREEZ, KASSATLY, COLD ALEX,
ONE FRY and FARM LAND
Operating Trend: Steady
Subject has a
workforce of 80 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 Revenue SR 26,000,000 SR 28,200,000
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
Malaz Branch
PO Box: 42536
Riyadh 11551
Tel: (966-11) 4776450
Fax: (966-11) 4769502
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.62.45 |
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1 |
Rs.102.00 |
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Euro |
1 |
Rs.84.35 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.