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Report Date : |
22.02.2014 |
IDENTIFICATION DETAILS
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Name : |
AL KONE TYPICAL EQUIPMENT SUPPLIES CO LTD |
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Registered Office : |
Al Rehaily Main Road, Tayba District, PO Box : 6390, Jeddah 23441 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
19.02.2012 |
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Com. Reg. No.: |
4030223345, 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 car
carpets, upholstery and industrial cleaning equipment. |
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No. of Employees : |
25 |
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 :
AL KONE TYPICAL EQUIPMENT SUPPLIES CO LTD
Also Known As :
AL KONE SUPER CLEAN CO LTD
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Partnership
Registration Date :
19th February 2012
Commercial Registration Number :
4030223345, Jeddah
Chamber Membership Number :
167207
Issued Capital :
SR 500,000
Paid up Capital :
SR 500,000
Total Workforce : 25
Activities :
Distributors of car carpets, upholstery and industrial cleaning equipment.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Person Interviewed :
Nabeel Y Hamza, Managing Partner
AL KONE TYPICAL
EQUIPMENT SUPPLIES CO LTD
ALSO KNOWN AS: AL KONE SUPER
CLEAN CO LTD
Registered &
Physical Address
Street : Al Rehaily
Main Road
Area : Tayba
District
PO Box : 6390
Town : Jeddah 23441
Country : Saudi Arabia
Telephone : (966-12)
2062607
Facsimile : (966-12)
6687424
Mobile : (966-59)
1008032 / (966-56) 442814
Email : sales@superclean.com
/ adnansuperclean@gmail.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Jeddah.
Name Position
Nabeel Y Hamza Managing
Partner
Adnan Abbass Partner
Date of Establishment : 26/03/1433 Hijri (corresponding to 19th
February 2012)
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 4030223345, Jeddah
Chamber Member No. : 167207
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Name of Partner
(s)
Nabeel Y Hamza
Adnan Abbass
Activities: Engaged in the import and
distribution of car carpets, upholstery and industrial cleaning equipment.
Import Countries: Europe
and the Far East
Subject has a workforce of 25 employees.
Financial highlights provided by local sources are given below:
Currency: Saudi Riyals (SR)
Year Ending 31/12/13:
Total Sales SR
8,300,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Riyad Bank
Prince Fahad Street
PO Box: 9324
Jeddah 21413
Tel: (966-12) 6513333
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.62.16 |
|
|
1 |
Rs.103.44 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.