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Report Date : |
28.03.2014 |
IDENTIFICATION DETAILS
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Name : |
AL YAFIE TRADING COMPANY |
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Registered Office : |
Al Habib Commercial Centre, King Abdulaziz Street, Bab Sharif District,
PO Box: 23705 Jeddah 21436 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
06.05.2006 |
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Reg. No.: |
4030161505, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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LINE OF BUSINESS : |
WHOLESALERS
AND RETAILERS OF READY MADE GARMENTS. |
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No. of Employees : |
25 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
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.
|
Source
: CIA |
Company Name :
AL YAFIE TRADING COMPANY
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Partnership
Registration Date :
6th May 2006
Commercial Registration Number :
4030161505, Jeddah
Chamber Membership Number :
110146
Issued Capital :
SR 250,000
Paid up Capital :
SR 250,000
Total Workforce :
25
Activities :
Wholesalers and retailers of ready made garments.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
AL YAFIE TRADING COMPANY
Registered &
Physical Address
Building :
Al Habib Commercial Centre
Street : King
Abdulaziz Street
Area : Bab Sharif
District
PO Box : 23705
Town : Jeddah 21436
Country : Saudi Arabia
Telephone : (966-2) 6441601
Facsimile : (966-2)
6442933
Email : eltegani@gmail.com
Premises
Subject operates from a medium sized suite of offices and a showroom that
are rented and located in the Central Business Area of Jeddah.
Branch Office (s)
Location Description
Al Sharbatli Building Rented
showroom premises
Bab Sharif District
Jeddah
Tel: (966-2) 6470047
Fax: (966-2) 6488824
Name Position
Saleh Hassan Al Yafie Managing
Partner
Adel Saleh Hassan Al Yafie Partner
Nabeel Hussain Al Yafie General
Manager
Hussain Al Yafie Sales
Manager
Magid Al Rushaid Commercial
Manager
Haytham Al Tegani Accountant
Date of Establishment : 08/04/1427 Hijri
(corresponding to 6th May 2006)
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 4030161505,
Jeddah
Chamber Member No. : 110146
Issued Capital : SR 250,000
Paid up Capital : SR 250,000
Name of Partner
(s)
Saleh Hassan Al Yafie
Adel Saleh Hassan Al Yafie
Activities: Engaged in the wholesale and retail of men’s, women’s and children’s
ready made garments.
Import Countries: Europe and the Far East.
Brand Names: ITERLON, GOFANA, NICKLINE and KERNODS
Operating Trend: Steady
Subject has a workforce of 25 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 Sales SR
16,230,000 SR
16,700,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Saudi British Bank
PO Box: 19513
Jeddah 21411
Tel: (966-2) 6512121
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 company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.13 |
|
|
1 |
Rs.99.65 |
|
Euro |
1 |
Rs.82.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.