MIRA INFORM REPORT
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Report Date : |
27.01.2014 |
IDENTIFICATION DETAILS
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Name : |
OCCASIONS TRADING COMPANY |
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Registered Office : |
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Country : |
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Date of Incorporation : |
23.10.1988 |
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Com. Reg. No.: |
2050033855, Dammam |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the provision
of stands, tents, buildings, flooring, machinery and structures for events. |
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No. of Employees : |
250 |
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
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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 : OCCASIONS TRADING COMPANY
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 23rd October 1988
Commercial Registration Number : 2050033855, Dammam
Chamber Membership Number : 130055
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Total Workforce : 250
Activities : Providers of stands, tents, buildings, flooring, machinery & structures
for events
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Ahmed Al Hunaity, Assistant General Manager
OCCASIONS TRADING
COMPANY
Registered &
Physical Address
Street : King Fahd Street
Area : Khalidayat Industrial Area
PO Box : 9691
Town : Dammam 31423
Country : Saudi Arabia
Telephone : (966-3) 8573595 / 8590292
Facsimile : (966-3) 8576152
Mobile : (966-55) 3553090
Email : a.asas@occasionme.com / info@occasionsme.com / a-hunaity@occasionme.com
Premises
Subject operates
from a large suite of offices and a warehouse that are rented and located in
the Industrial Area of Dammam.
Branch Office (s)
Location Description
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Riyadh Office
premises
Tel: (966-1) 2452456
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Jeddah Office
premises
Tel: (966-2) 6575508
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Street
No. 42 Office
premises
Dammam
Tel: (966-3) 8469228
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Street
No. 91 Office
premises
Dammam
Tel: (966-56) 5714286
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King
Faisal Street Office
premises
Ras Tanoura
Tel: (966-55) 2886126
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Khaldiah
Prince Nayef Street Office
premises
Ihssa
Tel: (966-54) 3433823
Name Position
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Yasser
Abdulaziz Mohamed Al Kadi Managing
Partner
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Riyad
Abdulaziz Mohamed Al Kadi Partner
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Abdulaziz
Mohamed Al Kadi Partner
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Baneder
Al Suhaimi General
Manager
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Ahmed Al Hunaity Assistant
General Manager
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Ahmed
Asas Commercial
Manager
Date of Establishment : 12/03/1409
Hijri (corresponding to 23rd October 1988)
Legal Form :
Limited Liability Partnership
Commercial Reg. No. : 2050033855,
Dammam
Chamber Member No. : 130055
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Name of Partner (s)
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Yasser
Abdulaziz Mohamed Al Kadi
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Riyad
Abdulaziz Mohamed Al Kadi
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Abdulaziz
Mohamed Al Kadi
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Al Kadi
Holding Group
Dammam
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Al Kadi Trading Co
Dammam
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Al Kadi Construction Co
Dammam
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Zajil Transportation Co
Dammam
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Hatex Transportation Co
Dammam
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Al Kadi Shedes
Dammam
Activities: Engaged in the provision of stands, tents,
buildings, flooring, machinery and structures for events.
Import
Countries: Europe and the
Far East.
Industrial Suppliers:
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Losburger Germany
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Beldman Germany
Subject has a workforce
of approximately 250 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.
·
National
Commercial Bank
PO Box: 13
Dammam 31411
Tel: (966-3) 8331188
Fax: (966-3) 8336058
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.18 |
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1 |
Rs.103.38 |
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Euro |
1 |
Rs.85.09 |
INFORMATION DETAILS
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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 |
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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 |
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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.