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Report Date : |
02.07.2014 |
IDENTIFICATION DETAILS
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Name : |
ABDULLAH MASHOUR HAIL AL SHALAAN TRADING EST |
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Formerly Known As : |
HAIL AL SHALAAN TRADING EST |
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Registered Office : |
Express Highway, PO Box : 35442, Jeddah 21488 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
06.08.2008 |
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Com. Reg. No.: |
4030181657, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged in the wholesale and retail of marble,
ceramics, tiles and sanitary ware products. |
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No. of Employees : |
35 |
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 – March 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
SAUDI ARABIA - ECONOMIC OVERVIEW
Saudi Arabia has an oil-based economy with strong government controls over major economic activities. It possesses about 16% 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 6 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 :
ABDULLAH MASHOUR HAIL AL SHALAAN TRADING EST
Previously Known As : HAIL AL SHALAAN TRADING EST
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
6th August 2008
Commercial Registration Number :
4030181657, Jeddah
Chamber Membership Number :
133312
Invested Capital :
SR 50,000
Total Workforce :
35
Activities :
Wholesale and retail of marble, ceramics, tiles and sanitary ware products
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Abdullah Khalil, Finance Manager
ABDULLAH MASHOUR
HAIL AL SHALAAN TRADING EST
PREVIOUSLY KNOWN
AS: HAIL AL SHALAAN TRADING EST
Registered &
Physical Address
Location : Express
Highway
PO Box : 35442
Town : Jeddah 21488
Country : Saudi Arabia
Telephone : (966-2) 6403046
Facsimile : (966-2)
6401855
Mobile : (966-50)
4336504 / 7292516
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Jeddah.
Branch Offices
Location Description
Old Makkah Road, Kilo 10 Office
premises
Jeddah
Tel: (966-12) 2800978
Fax: (966-12) 6234471
Name Position
Abdullah Mashour Hail Al Shalaan Proprietor
& General Manager
Mostafa Mohamed Burhan Sales Manager
Abdullah Khalil Finance
Manager
Zayad Al Shami Commercial
Manager
Mohamed Mostafa Administration
Executive
Date of Establishment : 03/08/1429 Hijri (corresponding to 6th
August 2008)
History : Subject began in
2008 under the name “Hail Al Shalaan Trading Est”. However in
2011 it changed
its name to “Abdullah Mashour Hail Al Shalaan Trading Est”.
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 4030181657, Jeddah
Chamber Member No. : 133312
Invested Capital : SR 50,000
Mr Abdullah Mashour Hail Al Shalaan is the sole proprietor of the
business.
Activities: Engaged in the
wholesale and retail of marble, ceramics, tiles and sanitary ware products.
Import Countries: Europe
and GCC countries
Operating Trend: Steady
Subject has a workforce of 35 employees.
Financial highlights provided by local sources are given below:
Currency: Saudi Riyals (SR)
Year Ending 31/12/12: Year Ending 31/12/13:
Total Sales SR
9,450,000 SR
10,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Arab National Bank
Madinah Road
PO Box: 9463
Jeddah 21413
Tel: (966-12) 6600272
Fax: (966-12) 6650202
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.14 |
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|
1 |
Rs.102.83 |
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Euro |
1 |
Rs.82.28 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
NNA |
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.