MIRA INFORM REPORT

 

 

Report Date :

19.05.2014

 

IDENTIFICATION DETAILS

 

Name :

AL QARYAN GROUP FOR TRADING INDUSTRY & CONTRACTING

 

 

Formerly Known As :

MOHAMED QARYAN AL QAHTANI AND PARTNERS GROUP FOR TRADING INDUSTRY & CONTRACTING

 

 

Registered Office :

Dammam Khobar Highway, Abu Hadriyah Road, Plot No. 71, Dallah Industrial Area, P O Box 3703, Dammam 31481

 

 

Country :

Saudi Arabia

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

14.05.2000

 

 

Com. Reg. No.:

2050036333, Dammam

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

·         Engaged in the processing and exporting of scrap metal (both ferrous and non-ferrous), including cable recycling and metal recycling.

Subject is also engaged in the wholesaler and retailer of machinery, hardware, tools and batteries.

 

 

No of Employees :

530 (Approximately)

 

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 – 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

 

SUMMARY

 

Company Name                                     : AL QARYAN GROUP FOR TRADING INDUSTRY & CONTRACTING

Previously Known As                              : MOHAMED QARYAN AL QAHTANI AND PARTNERS GROUP FOR

  TRADING INDUSTRY & CONTRACTING

Country of Origin                                    : Saudi Arabia

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 14th May 2000

Commercial Registration Number            : 2050036333, Dammam

Chamber Membership Number                : 23703

Issued Capital                                        : SR 2,000,000

Paid up Capital                                      : SR 2,000,000

Total Workforce                                     : 530

Activities                                               : Processing and export of scrap metal

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Person Interviewed                                 : Afroz Ahmed, Finance Manager

 

COMPANY NAME

 

AL QARYAN GROUP FOR TRADING INDUSTRY & CONTRACTING

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Dammam Khobar Highway, Abu Hadriyah Road, Plot No. 71

Area                 : Dallah Industrial Area

PO Box             : 3703

Town                 : Dammam 31481

Country             : Saudi Arabia

Telephone         : (966-3) 8226969

Facsimile          : (966-3) 8223939

Mobile               : (966-50) 3500068 / 3534000

Email                : info@alqaryan.com / alhabshi@alqaryan.com

 

Premises

Subject operates from a large suite of offices and a warehouse that are rented and located in the Industrial Area of Dammam.

 

Branch Offices

Subject has branch offices located in Nabiyah, Dammam, Jubail, Riyadh, Abqaiq, Yanbu, Alkhafgi, Alhafoof, Hafer Albatin and Buraidah.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

·       Mohamed Qaryan Fahid Al Qahtani                                                    Managing Partner

·       Hamoud Qaryan Al Qahtani                                                                Partner

·       Fahid Qaryan Al Qahtani                                                                    Partner

·       Faraj Abdul Hadi Al Qahtani                                                               Partner

·       Yasser Abdul Jawad                                                                          Operations Manager

·       Murli Daren                                                                                       Human Resources Manager

·       Afroz Ahmed                                                                                     Finance Manager

·       Javid Ahmed                                                                                     Commercial Manager

·       Omar Al Habshi                                                                                Public Relations Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 11/02/1421 Hijri (corresponding to 14th May 2000)

 

History                         : Subject was previously called “Mohamed Qaryan Al Qahtani And Partners Group For

  Trading Industry & Contracting”. However in January 2012 it changed its name to “Al

  Qaryan Group For Trading Industry & Contracting”.

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 2050036333, Dammam

 

Chamber Member No. : 23703

 

Issued Capital              : SR 2,000,000

 

Paid up Capital            : SR 2,000,000

 

 

Name of Partner (s)

·       Mohamed Qaryan Fahid Al Qahtani

·       Hamoud Qaryan Al Qahtani

·       Fahid Qaryan Al Qahtani

·       Faraj Abdul Hadi Al Qahtani

 

 

AFFILIATED COMPANIES

 

·       Fahid Qaryan Al Qahtani Est

Dammam

 

 

OPERATIONS

 

Activities: Engaged in the processing and exporting of scrap metal (both ferrous and non-ferrous), including cable recycling and metal recycling.

 

Subject is also engaged in the wholesaler and retailer of machinery, hardware, tools and batteries.

 

Import Countries: Europe and GCC countries

 

Operating Trend: Steady

 

Subject has a workforce of approximately 530 employees.

 

 

FINANCIAL DATA

 

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 1,607,167,814                      SR 1,759,487,005

 

Local sources consider subject’s financial condition to be Good.

 

The above figures were provided by Mr. Afroz Ahmed, Finance Manager

 

 

BANKERS

 

·       National Commercial Bank

PO Box: 13

Dammam 31411

Tel: (966-3) 8331188

       Fax: (966-3) 8336058

 

·       Saudi British Bank

PO Box: 1618

Dammam 31411

Tel: (966-3) 8331553

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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.58.86

UK Pound

1

Rs.98.82

Euro

1

Rs.80.72

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.