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Report Date : |
28.03.2014 |
IDENTIFICATION DETAILS
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Name : |
AL DIMIKHI TRADING EST |
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Formerly Known as: |
MOHAMED HUSSEIN
AL JUHANI TRADING |
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Registered Office : |
Al Balad
District, P O Box 526, Yanbu |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
06.02.2012 |
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Com. Reg. No.: |
4700006736, Yanbu |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
importer and distributor of electrical and
electronic equipment |
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No. of Employees |
10 |
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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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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 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.
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Source : CIA |
Concern Name : AL DIMIKHI TRADING EST
Previously Known As : MOHAMED HUSSEIN AL JUHANI TRADING
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 6th February 2012
Commercial Registration Number : 4700006736, Yanbu
Invested Capital : SR 30,000
Total Workforce : 10
Activities : Distributors of electrical and electronic equipment.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
AL DIMIKHI TRADING
EST
MOHAMED HUSSEIN AL JUHANI TRADING
Registered &
Physical Address
Location : Al Balad District
PO Box : 526
Town : Yanbu
Country : Saudi Arabia
Telephone : (966-14) 3904487
Facsimile : (966-14) 3222057
Email : dimikhi.est@gmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Yanbu.
Name Position
·
Moufaq
Ayash Salem Al Dimikhi Proprietor
& General Manager
·
Faisal
Salem Sales
Manager
Date of Establishment : 13/03/1433
Hijri (corresponding to 6th February 2012)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4700006736,
Yanbu
Invested Capital
: SR 30,000
Mr. Moufaq Ayash
Salem Al Dimikhi is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
electrical and electronic equipment.
Import
Countries: Europe and the
Far East
Subject has a workforce
of 10 employees.
Financial
highlights provided by local sources are given below:
Currency: Saudi
Riyals (SR)
Year
Ending 31/12/13:
Total Revenue SR
6,800,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Arab
National Bank
Madinah Road
PO Box: 9463
Jeddah 21413
Tel: (966-12) 6600272
Fax: (966-12) 6650202
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 business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.60.13 |
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UK Pound |
1 |
Rs.99.65 |
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Euro |
1 |
Rs.82.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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 |
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-- |
NB |
New Business |
-- |
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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.