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Report Date : |
04.06.2014 |
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IDENTIFICATION DETAILS
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Name : |
BRANCH OF SALEM
SALEH SUWAID TRADING EST |
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Registered Office : |
Jamieha Market,
Dhabab Street, Bjanb Al Talaea Vs Al Tahil, Jeddah |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
14.05.2014 |
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Com. Reg. No.: |
4030084744, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
wholesaler and retailer of textiles and fabrics |
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No of Employees : |
06 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New business |
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Payment Behaviour : |
Unknown |
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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
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 |
|
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 |
Concern Name : BRANCH OF SALEM SALEH SUWAID TRADING EST
Trade Name : AL SALEM FOR TRADING TEXTILE
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 14th May 2014
Commercial Registration Number : 4030084744, Jeddah
Chamber Membership Number : 125352
Invested Capital : SR 20,000
Total Workforce : 6
Activities : Wholesale and retail of textiles and fabrics
Financial Condition : Undetermined
Payments : Unknown
Person Interviewed : Haza Thabet Ahmed, Commercial Manager
BRANCH OF SALEM
SALEH SUWAID TRADING EST
AL SALEM FOR TRADING
TEXTILE
Registered & Physical
Address
Building : Jamieha Market
Street : Dhabab Street
Area : Bjanb Al Talaea Vs Al Tahil
Town : Jeddah
Country : Saudi Arabia
Telephone : (966-12) 6428173
Facsimile : (966-12) 6428173
Mobile : (966-50) 6998914
Email : hazaoth@hotmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Jeddah.
Name Position
·
Salah
Salem Al Suwaid Proprietor
& General Manager
·
Haza
Thabet Ahmed Commercial
Manager
Date of Establishment : 14/07/1435
Hijri (corresponding to 14th May 2014)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030084744,
Jeddah
Chamber Member No. : 125352
Invested Capital
: SR 20,000
Mr. Salah Salem Al
Suwaid is the sole proprietor of the business.
Activities: Engaged in the wholesale and retail of
textiles and fabrics.
Import
Countries: Europe and the
Far East
Subject has a
workforce of 6 employees.
Subject is a newly
formed business and as a result financial information is not currently
available.
·
National
Commercial Bank
Al Balad Branch
King Abdulaziz Street
PO Box: 5066
Jeddah 21422
Tel: (966-2) 6434777
Fax: (966-2) 6441686
Unknown
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.21 |
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|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.80.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
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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 |
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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.