|
Report Date : |
26.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
MANAR AL OMRAN CO FOR TRADING & INDUSTRY |
|
|
|
|
Formerly Known As : |
SALIM BIN HENDI AL HARBI EST |
|
|
|
|
Registered Office : |
Makkah Road PO Box 46218 Jeddah 21532 |
|
|
|
|
Country : |
Saudi Arabia |
|
|
|
|
Date of Incorporation : |
15.09.1988 |
|
|
|
|
Com. Reg. No.: |
4030177499, Jeddah |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business : |
Subjects operations are performed through the following divisions: ·
Trading Division ·
Contracting Division ·
Manar Al Omran
Scaffolding Factory ·
Manar Al Omran Real
Estate |
|
|
|
|
No. of Employees : |
3,400 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
|
Source
: CIA |
Company Name : MANAR AL OMRAN CO FOR TRADING & INDUSTRY
Previously Known As : SALIM BIN HENDI AL HARBI EST
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 15th September 1988
Commercial Registration Number : 4030177499, Jeddah
Chamber Membership Number : 128222
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Total Workforce : 3,400
Activities : Subject operates several divisions (see below for details)
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Abdulrahman Akram, Public Relations Manager
MANAR AL OMRAN CO FOR TRADING & INDUSTRY
SALIM BIN HENDI AL
HARBI EST
Location : Makkah Road
PO Box :
46218
Town : Jeddah 21532
Country : Saudi Arabia
Telephone : (966-12)
6200777 / 6209541 / 6200613 / 6244450
Facsimile : (966-2)
6205043
Mobile : (966-55)
6655275 / 3330225
Email : info@manar.com.sa
/ benhendi_est@hotmail.com
Subject operates from a large suite of offices and a warehouse that are
rented and located in the Commercial Business Area of Jeddah.
Name Position
· Salim Bin Hendi Al
Harbi Managing
Partner
· Abdullah Salim Bin
Hendi Al Harbi Partner
· Saleem Salim Bin
Hendi Al Harbi Partner
· Maher Salim Al
Harbi General
Manager
· Feras Al Akhras Accounts
Manager
· Abdulrahman Akram Public
Relations Manager
· Ahmed Al Ghamdi Human
Resources Manager
Date of Establishment : 03/02/1409 Hijri (corresponding to 15th
September 1988) Subject changed from Sole
Proprietorship on 23rd March 2008
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 4030177499, Jeddah
Chamber Member No. : 128222
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
· Salim Bin Hendi Al
Harbi
· Abdullah Salim Bin
Hendi Al Harbi
· Saleem Salim Bin
Hendi Al Harbi
· Salim Bin Hendi
Holding Co
Old Makkah Road
Tel: (966-12)
6200613 / 6244450
PO Box: 46218
Jeddah 21532
· Abdullah Salim Bin
Hendi Al Harbi Est
Old Makkah Road
Tel: (966-12)
6208422 / 6200777
Fax: (966-12)
620543
· Manar Al Omran Co
Jeddah
Activities: Subjects operations are performed through the following divisions:
·
Trading Division
Engaged in the
import and distribution of building materials, ceramic, tiles and plumbing
products
·
Contracting Division
Engaged as
electromechanical contractors.
·
Manar Al Omran Scaffolding Factory
Engaged in
the manufacture of scaffolding products and materials.
·
Manar Al Omran Real Estate
Engaged in the provision of real estate
services, letting, selling, buying and development.
Import Countries: Europe and the Far East.
Brand Names: HS, DOGLAR and DONER
Subject has a workforce of approximately 3,400 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.
·
Al Rajhi Banking & Investment Corporation
Al Mahjar Road
Jeddah
Tel: (966-12)
6377810
No complaints regarding subject’s payments have been reported.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.98 |
|
|
1 |
Rs.103.31 |
|
Euro |
1 |
Rs.85.14 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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 |
|
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 |
|
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.