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Report Date : |
08.02.2014 |
IDENTIFICATION DETAILS
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Name : |
SAADEDDIN PASTRY |
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Registered Office : |
Olaya District, PO Box : 59541, |
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Country : |
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Date of Incorporation : |
1976 |
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Com. Reg. No.: |
1010144993, |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject is engaged in the manufacture and retail of Arabic sweets, chocolate
and pastries. |
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No. of Employees : |
1,500 |
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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 :
SAADEDDIN PASTRY
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Partnership
Start Date :
1976
Registration Date :
14th February 1993
Commercial Registration Number :
1010144993, Riyadh
Chamber Membership Number :
48773
Issued Capital :
SR 500,000
Paid up Capital :
SR 500,000
Total Workforce :
1,500
Activities :
Manufacturers and retailers of Arabic sweets, chocolate and pastries.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
SAADEDDIN PASTRY
Registered &
Physical Address
Location : Olaya
District
PO Box : 59541
Town : Riyadh 11535
Country : Saudi Arabia
Telephone : (966-1) 2412334
/ 2654334
Facsimile : (966-1) 2654744
Premises
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Riyadh.
Branch Office (s)
Subject has approximately 65 branches located throughout Saudi Arabia.
Name Position
Ali Mohamed Ali Saadeddine Managing
Partner
Omar Mohamed Ali Saadeddine Partner
Khalid Mohamed Ali Saadeddine Partner
Date of Establishment : 1976, however subject was registered
on 14th February 1993
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 1010144993, Riyadh
Chamber Member No. : 48773
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Name of Partner
(s)
Ali Mohamed Ali Saadeddine
Omar Mohamed Ali Saadeddine
Khalid Mohamed Ali Saadeddine
Activities: Engaged in the manufacture and retail of Arabic sweets, chocolate and
pastries.
Subject has a workforce of approximately 1,500 employees.
Companies registered in Saudi Arabia are not legally required to make
their accounts public and no financial information was released by the company
or submitted by outside sources.
National Commercial Bank
Airport Road
PO Box: 2800
Riyadh 11461
Tel: (966-11) 4772281
Fax: (966-11) 4730322
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.32 |
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|
1 |
Rs.101.78 |
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Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.