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Report Date : |
15.03.2014 |
IDENTIFICATION DETAILS
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Name : |
AL SADHAN TRADING COMPANY |
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Registered Office : |
Omar Ibn Abdulaziz Street Al Rabwa District |
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Country : |
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Date of Incorporation : |
12.11.1971 |
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Com. Reg. No.: |
1010006014, |
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Legal Form : |
Closed Shareholding Company |
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Line of Business : |
Engaged in the wholesale and retail of general foodstuffs, beverages and
consumable goods. |
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No. of Employees : |
1,000 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
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 SADHAN TRADING COMPANY
Country of Origin : Saudi Arabia
Legal Form : Closed Shareholding Company
Registration Date : 12th November 1971
Commercial Registration Number : 1010006014, Riyadh
Chamber Membership Number : 1688
Issued Capital : SR 2,560,000
Paid up Capital : SR 2,560,000
Total Workforce : 1,000
Activities : Wholesale and retail of general foodstuffs, beverages and consumable
goods
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
AL SADHAN TRADING COMPANY
Street : Omar Ibn
Abdulaziz Street
Area : Al Rabwa
District
PO Box : 945
Town : Riyadh 11421
Country : Saudi Arabia
Telephone : (966-11)
2085555
Facsimile : (966-11)
4454618
Email : al-sadhan@al-sadhan.com
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Riyadh.
Branch Office (s)
Subject operates 8 retail stores and supermarkets
throughout Riyadh.
Name Position
· Mohamed Abdulaziz
Al Sadhan Chairman
· Turki
Abdulaziz Al Sadhan Vice
Chairman
· Bader Abdulaziz Al
Sadhan Managing
Director
· Majid Abdulaziz Al
Sadhan Director
· Ahmed Abdulaziz Al
Sadhan Director
· Maha Abdulaziz Al
Sadhan Director
· Amal Abdulaziz Al
Sadhan Director
· Hessa Al Subaiei Director
· Hamza Bilal Accountant
Date of
Establishment : 23/09/1391 Hijri
(corresponding to 12th November 1971)
Legal Form : Closed
Shareholding Company
Commercial Reg.
No. : 1010006014, Riyadh
Chamber Member No. : 1688
Issued Capital : SR 2,560,000
Paid up Capital : SR 2,560,000
· Mohamed Abdulaziz
Al Sadhan
· Turki
Abdulaziz Al Sadhan
· Bader Abdulaziz Al
Sadhan
· Majid Abdulaziz Al
Sadhan
· Ahmed Abdulaziz Al
Sadhan
· Maha Abdulaziz Al
Sadhan
· Amal Abdulaziz Al
Sadhan
· Hessa Al Subaiei
Activities: Engaged in the wholesale and retail of general foodstuffs, beverages
and consumable goods.
Import Countries: Europe and the Far East
Subject has a workforce of approximately 1,000 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.
·
Riyad Bank
King Abdul Aziz Road
PO Box: 22622
Riyadh 11416
Tel: (966-1)
4013030
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.61.52 |
|
|
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.85.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
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 |
|
-- |
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.