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Report Date : |
10.06.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Dhahran Street,
31763 Al Khobar 31952 |
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Country : |
Saudi Arabia |
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Year of Establishment : |
2006 |
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Com. Reg. No.: |
2050100969 |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Engaged in the provision
of catering services |
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No of Employees : |
650 |
RATING & COMMENTS
|
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 – 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 |
|
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 |
Company Name : NATIONAL COMPANY FOR MANAGEMENT AND SERVICES LTD
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Company
Registration Date : 2006
Commercial Registration Number : 2050100969, Al Khobar
Issued Capital : SR 1,500,000
Paid up Capital : SR 1,500,000
Total Workforce : 650
Activities : Providers of catering services.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Belgacem Souissi, Financial Controller
NATIONAL COMPANY
FOR MANAGEMENT AND SERVICES LTD
Location : Dhahran Street
PO Box : 31763
Town : Al Khobar 31952
Country : Saudi Arabia
Telephone : (966-13) 8683592 / 8683582
Facsimile : (966-13) 8682522 / 8680929
Email : belgacem.souissi@ncms.com.sa /
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Al Khobar.
Branch Office
(s)
Location Description
·
Abu
Hadriya Road Warehouse
premises
Al Khobar
Tel: (966-13) 8083294 / 8083296
Fax: (966-13) 8682522
Name Nationality Position
·
Osma Zainy Saudi Chairman
·
Ahmed
Osma Zainy Saudi Managing
Director
·
Alan
Maurice - General
Manager
·
Haytham
Hassan - Accounts
Manager
·
Kumar
Padananavan - Operations
Manager
·
Belgacem
Souissi - Financial
Controller
Date of Establishment : 2006
Legal Form :
Limited Liability Company
Commercial Reg. No. : 2050100969,
Al Khobar
Issued Capital : SR 1,500,000
Paid up Capital : SR 1,500,000
·
Osma
Zainy 50%
·
Development
Co (Al Tanmiah) 50%
Dubai
United Arab Emirates
Activities: Engaged in the provision of catering
services.
Import
Countries: Europe and the
Far East
Subject has a
workforce of approximately 650 employees.
Companies
registered in Saudi Arabia are not legally required to make their accounts
public and no financial information was released by the company or submitted by
outside sources.
·
National
Commercial Bank
PO Box: 1
Al Khobar 31952
Tel: (966-13) 8949669
Fax: (966-13) 8646474
No complaints
regarding subject’s payments have been reported.
Local sources
report that the subject’s operating history is clear with payment obligations met
in a generally timely manner. The financial position is satisfactory and the
company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 59.06 |
|
|
1 |
Rs. 99.34 |
|
Euro |
1 |
Rs. 80.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.