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Report Date : |
13.06.2014 |
IDENTIFICATION DETAILS
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Name : |
RWEHA TRADING EST
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|
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Registered Office : |
Wholesale Market,
Atiqa Area, P O Box 5579, Riyadh 11432 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Year of Establishment : |
1998 |
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Com. Reg. No.: |
1010010764, Riyadh |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
wholesaler and retailer of general foodstuffs, including
rice, lentils, dairy products, spices, edible oils, pickles and frozen foods. |
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No of Employees : |
120 |
RATING & COMMENTS
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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 |
Concern Name : RWEHA TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 1998
Commercial Registration Number : 1010010764, Riyadh
Chamber Membership Number : 7646
Invested Capital : SR 500,000
Total Workforce : 120
Activities : Wholesale and retail of general foodstuffs.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Ali, Sales Manager
RWEHA TRADING EST
Registered &
Physical Address
Location : Wholesale Market, Atiqa Area
PO Box : 5579
Town : Riyadh 11432
Country : Saudi Arabia
Telephone : (966-1) 4588801 / 4588802 / 4588803
Facsimile : (966-1) 4590473
Mobile : (966-50) 2386936
Email : info@meezanfood.com
Premises
Subject operates from
a medium sized suite of offices and a shop that are rented and located in the
Central Business Area of Riyadh.
Branch Office (s)
Location Description
·
Dammam Warehouse
& showroom premises
·
Aziziyah
District Warehouse
& showroom premises
Riyadh
·
Deira
District Warehouse
& showroom premises
Riyadh
·
Rabwah
District Warehouse
& showroom premises
Riyadh
Name Position
·
Hassan Bin Eid Bin Al Abood Yaslam Proprietor
& General Manager
·
Mohamed
Ali Sales
Manager
·
Kashif
Mohamed Financial
Manager
Date of Establishment : 1998
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010010764,
Riyadh
Chamber Member No. : 7646
Invested Capital
: SR 500,000
Mr. Hassan Bin Eid Bin Al Abood Yaslam is the
sole proprietor of the business.
·
Rweha
Food Factory
Riyadh
·
Loving Commercial House
Riyadh
·
Bait Al
Ruz
Riyadh
·
Red
Onion Restaurant
Riyadh
·
Rweha
Trading Est
Riyadh
·
Faisal
Hassan Est
Riyadh
·
Waleed
Hassan Yaslem Est
Riyadh
Activities: Engaged in the wholesale and retail of
general foodstuffs, including rice, lentils, dairy products, spices,
edible oils, pickles and
frozen foods.
Import
Countries: Europe, India and
Pakistan.
Principal
Suppliers:
·
Binzaqar
Uni Lever Saudi
Arabia
·
Al Rabie Saudi Food Co Ltd Saudi Arabia
·
National Food Industries Saudi Arabia
·
SADAFCO Saudi Arabia
·
Saeed Ahmed Al Mahroos & Sons Co Saudi Arabia
·
Cholayil Pvt Ltd India
·
Karnatka Soaps & Detergents Ltd India
·
Vicco Lab India
·
SV Products India
·
N Ranga Rao & Sons India
·
United Trading & Manufacturing Pvt Ltd Pakistan
Operating Trend: Steady
Subject has a
workforce of 120 employees.
Financial highlights
provided by local sources are given below:
Currency: United
States Dollars (US$)
Year
Ending 31/12/12: Year Ending
31/12/13:
Total Revenue US$ 306,000,000 US$ 310,000,000
Local sources
consider subject’s financial condition to be Good.
·
National
Commercial Bank
Airport Road
PO Box: 2800
Riyadh 11461
Tel: (966-1) 4772281
Fax: (966-1) 4730322
·
Saudi
American Bank
Malaz Branch
PO
Box: 3388
Riyadh 11471
Tel: (966-1) 4774770
·
Al
Rajhi Banking & Investment Corporation
PO Box: 28
Riyadh 11411
Tel: (966-1) 4054647 / 4054244
Fax: (966-1) 4044753 / 4052950
·
Arab
National Bank (ANB)
King Faisal Street
PO Box: 56921
Riyadh 11564
Tel: (966-1) 4029000
Fax: (966-1) 4027747
·
Al Bank
Al Saudi Al Fransi
Mather Road
PO Box: 56006
Riyadh 11554
Tel: (966-1) 4042222
Fax: (966-1) 4042311
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.33 |
|
|
1 |
Rs.99.68 |
|
Euro |
1 |
Rs.80.30 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.