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Report Date : |
18.02.2014 |
IDENTIFICATION DETAILS
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Name : |
TATRA MANUFACTURING FOR RUG & UPHOLSTERY
TEXTILE |
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Registered Office : |
Industrial Area, Phase
4, P O Box 20231, Jeddah 21455 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
30.04.2001 |
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Com. Reg. No.: |
4030133566, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
manufacturer of
rugs and textile fabrics. |
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No. of Employees : |
35 |
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
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
Concern Name : TATRA MANUFACTURING FOR RUG & UPHOLSTERY TEXTILE
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 30th April 2001
Commercial Registration Number : 4030133566, Jeddah
Membership Number : 68699
Invested Capital : SR 13,950,000
Total Workforce : 35
Activities : Manufacturers of rugs and textile fabrics.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Person Interviewed : Yahya Fakhouri, Financial Controller
TATRA MANUFACTURING
FOR RUG & UPHOLSTERY TEXTILE
Registered &
Physical Address
Location : Industrial Area, Phase 4
PO Box : 20231
Town : Jeddah 21455
Country : Saudi Arabia
Telephone : (966-12) 6080832 / 6080833 / 6429934
Facsimile : (966-12) 6080818
Mobile : (966-50) 4608267
Email : tatrarug@saudionline.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Jeddah.
Name Position
·
Abdul
Matee Raef Al Kasab Al Bediwi Proprietor
& General Manager
·
Amar
Abdul Matee Raef Al Kasab Al Bediwi Assistant
General Manager
·
Yahya
Fakhouri Financial
Controller
Date of Establishment : 06/02/1422
Hijri (corresponding to 30th April 2001)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030133566,
Jeddah
Membership No. :
68699
Invested Capital
: SR 13,950,000
Mr Abdul Matee Raef
Al Kasab Al Bediwi is the sole proprietor of the business.
Activities: Engaged in the manufacture of rugs and
textile fabrics.
Import
Countries: Europe and the
Far East.
Brand Names: TATRA
Operating Trend: Steady
Subject has a
workforce of 35 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 7,100,000 SR 8,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Yahya Fakhouri, Financial Controller
·
National
Commercial Bank
King Abdul Aziz Street
PO Box: 3555
Jeddah 21481
Tel: (966-2) 6446644
Fax: (966-2) 6446644
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.61.95 |
|
|
1 |
Rs.104.02 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
<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.