MIRA INFORM REPORT

Report Date :

04.07.2014

IDENTIFICATION DETAILS

Name :	RASLAN TRADING EST

Registered Office :	Palestine Street, Mushrifah District, P O Box 30971, Jeddah 21487

Country :	Saudi Arabia

Financials (as on) :	31.12.2013 (Estimated)

Date of Incorporation :	08.09.1989

Com. Reg. No.:	4030066872, Jeddah

Legal Form :	Sole Proprietorship

Line of Business :	wholesaler and retailer of Ceramics, Marble, Granite and Other Building Materials.

No of Employees :	20

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	No Complaints

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

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Saudi Arabia

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderate Low Risk	B1
Moderate Risk	B2
Moderate High Risk	C1
High Risk	C2
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.

Source : CIA

SUMMARY

Concern Name : RASLAN TRADING EST

Country of Origin : Saudi Arabia

Legal Form : Sole Proprietorship

Registration Date : 8^th September 1989

Commercial Registration Number : 4030066872, Jeddah

Chamber Membership Number : 31809

Invested Capital : SR 60,000

Total Workforce : 20

Activities : Wholesale and retail of ceramics, marble, granite and other building

materials.

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

CONCERN NAME

RASLAN TRADING EST

concern ADDRESS

Registered & Physical Address

Street : Palestine Street

Area : Mushrifah District

PO Box : 30971

Town : Jeddah 21487

Country : Saudi Arabia

Telephone : (966-2) 6737373 / 6739178

Facsimile : (966-2) 6737373 / 6701871

Mobile : (966-50) 04682197

Email : muradhoms@gmail.com

Premises

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

· East Express Highway Rented showroom premises

Jeddah

Tel: (966-2) 6292282

Fax: (966-2) 6292213

KEY PRINCIPALS

Name Position

· Azza Bint Wasel Shafiq Raslan Proprietor

· Mohamed Hisham Al Dorubi General Manager

· Tamer Al Jedie Commercial Manager

· Mohamed Amer Murad Marketing Manager

· Musad El Bili Finance Manager

· Labib Tabakh Sales Manager

LEGAL FORM & OWNERS

Date of Establishment : 07/02/1410 Hijri (corresponding to 8^th September 1989)

Legal Form : Sole Proprietorship

Commercial Reg. No. : 4030066872, Jeddah

Chamber Member No. : 31809

Invested Capital : SR 60,000

Mr. Azza Bint Wasel Shafiq Raslan is the sole proprietor of the business.

OPERATIONS

Activities: Engaged in the wholesale and retail of ceramics, marble, granite and other building materials.

Import Countries: Europe and GCC countries.

International Suppliers:

· Kunial Italy

· BICA Italy

Operating Trend: Steady

Subject has a workforce of 20 employees.

FINANCIAL DATA

Financial highlights provided by local sources are given below:

Currency: Saudi Riyals (SR)

Year Ending 31/12/12: Year Ending 31/12/13:

Total Revenue SR 7,480,000 SR 7,850,000

Local sources consider subject’s financial condition to be Fair.

The above financial figures are based on estimations by our local sources.

BANKERS

· National Commercial Bank

King Abdul Aziz Street

PO Box: 3555

Jeddah 21481

Tel: (966-2) 6446644

Fax: (966-2) 6446644

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

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.59.72
UK Pound	1	Rs.102.45
Euro	1	Rs.81.54

INFORMATION DETAILS

Analysis Done by :	KAR

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
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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.