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Report Date : |
03.01.2014 |
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Tel. No.: |
+966 3 36672899 |
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Fax No.: |
+966 3 36680842 |
IDENTIFICATION DETAILS
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Name : |
RABEE SULAIMAN AL KHUZAYEM TRADING EST |
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Registered Office : |
King Street,
Rahima Area, P O Box 306, Ras Tanoura 31941 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
15.07.2007 |
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Com. Reg. No.: |
2054002270, Ras Tanoura |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject’s
operations are performed through the following divisions:- General Trading
Division Engaged in the import and distribution of general foodstuffs including, spices, sugar and milk powder. Contracting
Division Engaged as building maintenance and general contractors. Real Estate
Division Engaged in property rental, development and sale. |
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No. of Employees : |
20 |
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) |
|
Saudi Arabia |
a2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 |
Concern Name : RABEE SULAIMAN AL KHUZAYEM TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 15th July 2007
Commercial Registration Number : 2054002270, Ras Tanoura
Trade Licence Number : 4728
Membership Number : 79022
Invested Capital : SR 1,000,000
Total Workforce : 20
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
RABEE SULAIMAN AL
KHUZAYEM TRADING EST
Registered &
Physical Address
Street : King Street
Area : Rahima Area
PO Box : 306
Town : Ras Tanoura 31941
Country : Saudi Arabia
Telephone : (966-3) 6672899
Facsimile : (966-3) 6680842
Mobile : (966-50) 5864456 / (966-55) 8721601
Email : rabeea1khuzayem@yahoo.com / rskest@hotmail.com / rt_c10@hotmail.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Ras Tanoura.
Branch Offices
Location Description
·
Dammam Office
premises
Name Position
·
Rabee
Sulaiman Al Khuzayem Proprietor
& General Manager
·
Nawaz
Poyilil Sales
Manager
·
Akbar Ahmed
Kutti Assistant
Sales Manager
·
Sochil
Kumar Mandal Administration
Executive
Date of Establishment : 29/06/1428
Hijri (corresponding to 15th July 2007)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 2054002270,
Ras Tanoura
Trade Licence No. : 4728
Membership No. : 79022
Invested Capital
: SR 1,000,000
Mr Rabee Sulaiman
Al Khuzayem is the sole proprietor of the business.
Activities: Subject’s operations are performed through
the following divisions:
·
General Trading Division
Engaged in the import and
distribution of general foodstuffs including, spices, sugar and milk powder.
·
Contracting Division
Engaged as building
maintenance and general contractors.
·
Real Estate Division
Engaged in property rental, development and
sale.
Import
Countries: India and
Pakistan
International
Suppliers:
·
Poyilil
International Trading India
·
S N J
Trade Link Pvt Ltd India
·
Menma
Food Industries India
·
AROMA
Agro Tech Pvt Ltd India
·
Fordees
International Trading Pakistan
Operating Trend: Steady
Subject has a
workforce of 20 employees.
Financial
highlights provided by local sources are given below:
Currency: Saudi
Riyals (SR)
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Revenue SR
16,175,000 SR
16,810,000
Local sources
consider subject’s financial condition to be Fair.
·
National
Commercial Bank
PO Box: 13
Dammam 31411
Tel: (966-3) 8331188
Fax: (966-3) 8336058
·
Arab
National Bank (ANB)
King Street
PO Box: 18
Dammam 31411
Tel: (966-3) 8323440
Fax: (966-3) 8337829
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.61.90 |
|
|
1 |
Rs.102.74 |
|
Euro |
1 |
Rs.85.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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.