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Report Date : |
30.01.2014 |
IDENTIFICATION DETAILS
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Name : |
AL MAMOUN
EXHIBITION |
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Registered Office : |
Bab Shareef
Commercial Centre, 1st Floor, Office No.108 / 110, Bab Shareef,
18134 Jeddah 21415 |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
18.04.2009 |
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Com. Reg. No.: |
4030188838, Jeddah |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Engaged in the
wholesale and retail of ready made garments and textiles for men. |
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No. of Employees : |
26 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – December 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 : AL MAMOUN EXHIBITION
Country of Origin : Saudi
Arabia
Legal Form :
Sole Proprietorship
Start Date :
1974
Registration Date : 18th
April 2009
Commercial
Registration Number :
4030188838, Jeddah
Chamber Membership
Number : 136716
Invested Capital : SR
500,000
Total Workforce : 26
Activities :
Wholesalers and retailers of ready made garments and textiles for men.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
AL MAMOUN
EXHIBITION
Building : Bab Shareef Commercial Centre, 1st
Floor, Office No.108 / 110
Area : Bab Shareef
PO Box : 18134
Town : Jeddah 21415
Country : Saudi Arabia
Telephone : (966-2) 6447830 / 6444937
Facsimile : (966-2) 6452443
Mobile : (966-50) 5622811
Email : mamoun@icc.ne.sa / almamoun1001@gmail.com
Subject operates from
a medium sized suite of offices that are rented and located in the Central
Business Area of Jeddah.
Branch Office
(s)
Location Description
·
Al
Mansouri Building Rented
showroom premises
Bab Shareef
Jeddah
Tel: (966-2) 6473877
Name Position
·
Saleh
Bin Abdulrahman Al Matrie Proprietor
& General Manager
·
Ahmed
Hussain Abdullah Assistant
General Manager
·
Mohsin
Abdo Rabo Sales
Manager
Date of Establishment : 1974, however
subject was registered on 23/04/1430 Hijri (corresponding to 18th
April 2009)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030188838,
Jeddah
Chamber Member No. : 136716
Invested Capital
: SR 500,000
Mr Saleh Bin
Abdulrahman Al Matrie is the sole proprietor of the business.
Activities: Engaged in the wholesale and retail of
ready made garments and textiles for men.
Import
Countries: Spain, India and
Asia.
Brand Names:
CARDINAL, RIVERLAND, PIRELLI and SURPRISE
Operating Trend: Steady
Subject has a
workforce of 26 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 Sales SR 18,000,000 SR 18,550,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Saudi
British Bank
PO Box: 109
Jeddah 21411
Tel: (966-2) 6512121
·
National
Commercial Bank
Al Balad Branch
King Abdulaziz Street
PO Box: 5066
Jeddah 21422
Tel: (966-2) 6434777
Fax: (966-2) 6441686
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.62.73 |
|
|
1 |
Rs.103.86 |
|
Euro |
1 |
Rs.85.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.