|
Report Date : |
18.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
DARWAZAT AL KHALEEJ TRADING EST |
|
|
|
|
Registered Office : |
King Fahd
Street, Conference
District, Olaya District, P O
Box 385377, Riyadh 11355 |
|
|
|
|
Country : |
Saudi Arabia |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
21.08.2006 |
|
|
|
|
Com. Reg. No.: |
1010217519, Riyadh |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Subject’s operations are performed through the following divisions:- Trading Division Engaged in the
import and distribution of machinery
and oil field products. Contracting Division Engaged as
building maintenance contractors. Foodstuff Division Engaged in the
import and distribution of general foodstuffs, including dairy products and
cakes. Plastic Division Engaged in the
import and distribution of plastic containers, cups, plates and polyurethane
products. |
|
|
|
|
No. of Employees |
65 |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 17% 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 5 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 : DARWAZAT AL KHALEEJ TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 21st August 2006
Commercial Registration Number : 1010217519, Riyadh
Chamber Membership Number : 165180
Invested Capital : SR 500,000
Total Workforce : 65
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
DARWAZAT AL KHALEEJ
TRADING EST
Registered &
Physical Address
Street : King Fahd Street
Area : Conference
District, Olaya District
PO Box : 385377
Town : Riyadh 11355
Country : Saudi Arabia
Telephone : (966-11) 4624359
Facsimile : (966-11) 4625219
Email : darwazat.al.khaleej2010@hotmail.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Riyadh.
Branch Offices
Location Description
·
Al Hayer Street Office
premises
Al Mustawadat
District
Riyadh
Tel: (966-11)
4389131
Fax: (966-11)
4389121
Name Position
·
Khalid Omar Hamid Al Rabiyahn Proprietor
& General Manager
·
Khalid Mohamed Abdulrahman Assistant
General Manager
·
Ghazhiyah Khalil Chamoun Marketing
Manager
·
Badereddine Al Rasheed Financial
Controller
·
Khalid Mohamed Administrative
Officer
Date of Establishment : 26/07/1427
Hijri (corresponding to 21st August 2006)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010217519,
Riyadh
Chamber Member No. : 165180
Invested Capital
: SR 500,000
Mr. Khalid Omar Hamid
Al Rabiyahn is the sole
proprietor of the business.
Activities: Subject’s operations are performed through
the following divisions:
· Trading Division
Engaged
in the import and distribution of machinery and oil field products.
· Contracting Division
Engaged
as building maintenance contractors.
· Foodstuff Division
Engaged
in the import and distribution of general foodstuffs, including dairy products
and cakes.
· Plastic Division
Engaged
in the import and distribution of plastic containers, cups, plates and polyurethane
products.
Import
Countries: United States of
America and Asia
Operating Trend: Steady
Subject has a
workforce of 65 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 Revenue SR 17,225,000 SR 18,100,000
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
Batha Branch
PO Box: 34
Riyadh 11411
Tel: (966-11) 4010076 / 4025084
Fax: (966-11) 4034625
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.61.52 |
|
|
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.85.23 |
INFORMATION DETAILS
|
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.