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Report Date : |
10.01.2014 |
IDENTIFICATION DETAILS
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Name : |
BAHADI COMPANY FOR TRADING AND INDUSTRIES |
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Registered Office : |
King Faisal
Street, Petromin District, P O Box 19738, Jeddah 21445 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
25.06.1987 |
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Com. Reg. No.: |
4030057673, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
wholesaler and retailer of general foodstuff
products, including nuts, rice, spices and coffee. |
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No. of Employees : |
79 |
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 |
|
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 : BAHADI COMPANY FOR TRADING AND INDUSTRIES
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 25th June 1987
Commercial Registration Number : 4030057673, Jeddah
Chamber Membership Number : 26919
Issued Capital : SR 1,500,000
Paid up Capital : SR 1,500,000
Total Workforce : 79
Activities : Wholesalers and retailers of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Abdullah Abdul Wahab, Sales Manager
BAHADI COMPANY FOR
TRADING AND INDUSTRIES
Registered &
Physical Address
Street : King Faisal Street
Area : Petromin District
PO Box : 19738
Town : Jeddah 21445
Country : Saudi Arabia
Telephone : (966-2) 6442222 / 6355555 / 6428025 /
6448061
Facsimile : (966-2) 6432468 / 6380555
Email : alibahadi@hotmail.com / info@bahadi.com / ali@bahadi.com / bahadi@bahadi.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Central Business Area of Jeddah.
Branch Office (s)
Location Description
·
Bab
Mecca Street Office
premises
Jeddah
Tel: (966-12) 6431095
Fax: (966-12) 6380555
·
Riyadh Office
premises
Tel: (966-11) 4118887
Fax: (966-11) 4388349
Name Position
·
Ali
Obaid Saeed Bahadi Managing
Partner
·
Saeed Obaid Saeed Bahadi Partner
·
Mohamed
Obaid
Saeed Bahadi Partner
·
Mostafa Mohamed Ali Satti Finance
Manager
·
Abdullah
Abdul Wahab Sales
Manager
Date of Establishment : 28/10/1407
Hijri (corresponding to 25th June 1987)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030057673,
Jeddah
Chamber Member No. : 26919
Issued Capital : SR 1,500,000
Paid up Capital : SR 1,500,000
Name of Partner (s)
·
Ali
Obaid Saeed Bahadi
·
Saeed Obaid Saeed Bahadi
·
Mohamed Obaid Saeed Bahadi
Activities: Engaged in the wholesale and retail of
general foodstuff products, including nuts, rice, spices and coffee.
Import Countries: Spain, South America, India and the United
States of America.
International
Suppliers:
·
Herpo Spain
·
San
Lazaro Guatemala
·
Imexa Guatemala
·
Agrofood Brazil
·
Waterford United States of America
·
Comex United States of America
·
Maskan
Overseas India
·
Shri
Ram India
·
Mahavir
Rice Mill India
Brand Names: BAHADI
Operating Trend: Steady
Subject has a
workforce of 79 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 11,000,000 SR 11,920,000
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: (966-2) 6446644
Fax:
(966-2) 6446644
·
Arab
National Bank
Madinah Road
PO Box: 9463
Jeddah 21413
Tel: (966-2) 6600272
Fax:
(966-2) 6650202
No complaints regarding
subject’s payments have been reported.
Local sources
report that subject meets its payments in a timely manner and is considered to
be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.18 |
|
|
1 |
Rs.102.31 |
|
Euro |
1 |
Rs.84.50 |
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 |
|
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.