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Report Date : |
22.01.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
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Country : |
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Date of Incorporation : |
18.02.2013 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesaler and retailer of readymade garments and textiles |
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No of Employees : |
7 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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 :
TAREK SALEH BAWARETH TRADING EST
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
18th February 2013
Commercial Registration Number :
4030241067, Jeddah
Chamber Membership Number :
180297
Invested Capital :
SR 60,000
Total Workforce :
7
Activities :
Wholesalers and retailers of readymade garments and textiles
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
TAREK SALEH
BAWARETH TRADING EST
Street : Bab Shareef
Street
Area : Al Balad
District
PO Box : 19523
Town : Jeddah 21445
Country : Saudi Arabia
Telephone : (966-12)
6270112 / 6479668
Facsimile : (966-12)
6471924
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Jeddah.
Name Position
·
Tarek
Saleh Abdullah Bawareth Proprietor
& General Manager
·
Saleh
Abdullah Bawareth Assistant
General Manager
·
Ahmed
Al Hakimi Accountant
·
Fouzi
El Masry Sales
Executive
Date of
Establishment : 07/04/1934 Hijri
(corresponding to 18th February 2013)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 4030241067, Jeddah
Chamber Member No. : 180297
Invested Capital : SR 60,000
Mr. Tarek Saleh Abdullah Bawareth is the sole proprietor of the
business.
Activities: Engaged in the wholesale and retail of readymade garments and textiles.
Import Countries: Europe and the Far East
Subject has a workforce of 7 employees.
Subject is a newly
formed business and as a result financial information is not currently
available.
·
National
Commercial Bank
Al Balad Branch
PO Box: 5066
Jeddah 21422
Tel: (966-2) 6434777
Fax: (966-2) 6441686
Unknown
In view of subject’s infancy, extensive payment and financial are not
available, therefore dealings are recommended to be on secured terms, and a
close monitoring of subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.53 |
|
|
1 |
Rs. 101.08 |
|
Euro |
1 |
Rs. 83.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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 |
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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.