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Report Date : |
18.07.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
21.04.1992 |
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Com. Reg. No.: |
4030086324 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import and distribution of industrial equipment, tools and machinery |
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No of Employees : |
16 |
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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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate 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 : AL SAAD TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 21st April 1992
Commercial Registration Number : 4030086324, Jeddah
Chamber Membership Number : 6138
Invested Capital : SR 75,000
Total Workforce : 16
Activities : Distributors of industrial equipment, tools and machinery.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Shamseddin Abdul Qader, Commercial Manager
AL SAAD TRADING EST
Street : Bakashab Street
Area : Bab Makkah District
PO Box : 16993
Town : Jeddah 21474
Country : Saudi Arabia
Telephone : (966-2) 64330283 / 6422158 / 6422168
/ 6453001 / 2687463
Facsimile : (966-2) 64330283 / 6453006 / 2687293
Mobile : (966-50) 0640017 / 7447031
Email : alsaad_co@hotmail.com
Subject operates
from a small suite of offices and a warehouse that are rented and located in the
Central Business Area of Jeddah.
Name Position
·
Fahd
Ghaleb Mohsin Al Shadgami Proprietor
& General Manager
·
Shamseddin
Abdul Qader Commercial
Manager
Date of Establishment : 19/10/1412
Hijri (corresponding to 21st April 1992)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030086324,
Jeddah
Chamber Member No. : 6138
Invested Capital
: SR 75,000
Mr Fahd Ghaleb
Mohsin Al Shadgami is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
industrial equipment, tools and machinery.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 16 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 9,720,000 SR 10,635,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Commercial Bank
King Abdul Aziz Street
PO Box: 3555
Jeddah 21481
Tel: (966-2) 6446644
Fax: (966-2) 6446644
Acc No. SA 73 1000 0011 6142 3400 0108
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
|
Indian Rupees |
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US Dollar |
1 |
Rs. 60.14 |
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1 |
Rs. 103.00 |
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Euro |
1 |
Rs. 81.33 |
INFORMATION DETAILS
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Analysis Done by
: |
KRN |
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Report Prepared
by : |
DPT |
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 |
-- |
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.