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Report Date : |
11.02.2014 |
IDENTIFICATION DETAILS
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Name : |
AL HADEEL DISTINCTIVE (HD) MEDICAL SUPPLIES |
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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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Date of Incorporation : |
18.05.2000 |
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Com. Reg. No.: |
4030130269, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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LINE OF BUSINESS : |
SUBJECT
IS ENGAGED IN THE IMPORT AND DISTRIBUTION OF MEDICAL PRODUCTS |
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No. of Employees : |
11 |
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
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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 :
AL HADEEL DISTINCTIVE (HD) MEDICAL SUPPLIES
Country of Origin :
Legal Form :
Limited Liability Partnership
Registration Date :
18th May 2000
Commercial Registration Number :
4030130269, Jeddah
Membership Number :
103608
Issued Capital :
SR 500,000
Paid up Capital :
SR 500,000
Total Workforce :
11
Activities :
Distributors of medical products
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
AL HADEEL
DISTINCTIVE (HD) MEDICAL SUPPLIES
Registered &
Physical Address
Building : Medical
Tower, (Al Badriya Tower)
Street : Al Rawdhah
Street
Area : Al Khaldiyah
PO Box : 4342
Town : Jeddah 21491
Country : Saudi Arabia
Telephone : (966-12)
6060666
Facsimile : (966-12)
6066057
Mobile : (966-50)
5471257
Email : layth_mimish@hotmail.com
Premises
Subject operates from a small suite of offices that are rented and located
in the Central Business Area of Jeddah.
Name Position
Dr Osama Mimish Managing
Partner
Ahmed Mimish Partner
Dr Heba Mimish Partner
Nada Mimish Partner
Layth Mimish General
Manager
Dr Zaki Gawas Commercial
Manager
Date of Establishment : 13/02/1421 Hijri (corresponding to 18th
May 2000)
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 4030130269, Jeddah
Membership No. : 103608
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Name of Partner
(s)
Dr Osama Mimish
Ahmed Mimish
Dr Heba Mimish
Nada Mimish
Activities: Engaged in the
import and distribution of medical products.
Import Countries: Europe
and the Far East.
Operating Trend: Steady
Subject has a workforce of 11 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
13,880,000 SR
14,200,000
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
King Abdul Aziz Street
PO Box: 3555
Jeddah 21481
Tel: (966-12) 6446644
Fax: (966-12) 6446644
Acc No. 13112081000109
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.19 |
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|
1 |
Rs.102.14 |
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Euro |
1 |
Rs.84.74 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.