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Report Date : |
22.05.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Gulf Centre, 2nd Floor, Office No. 210, Al Madinah Road, 11830 Jeddah 21463 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
28.02.1986 |
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Com. Reg. No.: |
4030053798 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the provision of IT products and services, including smart education, web development and email hosting |
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No of Employees : |
65 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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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Maximum Credit Limit : |
US$ 250,000 |
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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 (30.09.2013) |
Current Rating (01.12.2013) |
|
Saudi Arabia |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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 $373
billion between 2010 and 2014 on social development and infrastructure projects
to advance Saudi Arabia's economic development.
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Source
: CIA |
Company Name : INTERNATIONAL COMPUTER COMPANY LTD
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 28th February 1986
Commercial Registration Number : 4030053798, Jeddah
Chamber Membership Number : 24980
Issued Capital : SR 4,000,000
Paid up Capital : SR 4,000,000
Total Workforce : 65
Activities : Provision of IT products and services
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 250,000
INTERNATIONAL
COMPUTER COMPANY LTD
Building : Gulf Centre, 2nd
Floor, Office No. 210
Street : Al Madinah Road
PO Box : 11830
Town : Jeddah 21463
Country : Saudi Arabia
Telephone : (966-12) 6644446 / 6643824
Facsimile : (966-12) 6671469 / 6602724
Email : info@icc.net.sa
Please note that
subject’s previous address was, Khalid Bin Walid Street, Sharafiyah District,
Jeddah.
Subject operates from
a medium sized suite of offices that are rented and located in the Central
Business Area of Jeddah.
Branch Office
(s)
Location Description
·
Swilem
Building, 5th Floor Office
premises
Dhabab Street
PO Box: 336
Riyadh 11351
Tel: (966-11) 4057505
Fax: (966-11) 4057013
·
PO Box:
20182 Office
premises
Al Khobar 31952
Tel: (966-13) 8991084
Fax: (966-13) 8651058
·
PO Box:
20088 Office
premises
Makkah 21955
Tel: (966-12) 5485135
Fax: (966-12) 5485139
Name Position
·
Akram
Elias Managing
Partner
·
Baker
Salha Commercial
Manager
·
Abdullah
Al Amoodi Technical
Manager
·
Salman
Al Dakhiri Accounts
Manager
Date of Establishment : 18/06/1406
Hijri (corresponding to 28th February 1986)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030053798,
Jeddah
Chamber Member No. : 24980
Issued Capital : SR 4,000,000
Paid up Capital : SR 4,000,000
·
Akram
Elias
·
Mrs
Akram Elias
Activities: Engaged in the provision of IT products and
services, including smart education, web development and email hosting.
Import
Countries: Europe and the
Far East
Brand Names: SONICWALL, CISCO, EMC, HUAWEI, APPLIANSYS
and HP
Subject has a
workforce of 65 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.
·
National
Commercial Bank
PO Box: 3555
Jeddah 21481
Tel: (966-12) 6446644
Fax: (966-12) 6446644
No complaints
regarding subject’s payments have been reported.
Recommended credit limit: US$
250,000
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. 58.77 |
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|
1 |
Rs. 99.01 |
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Euro |
1 |
Rs. 80.56 |
INFORMATION DETAILS
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Analysis Done by
: |
KRN |
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Report Prepared
by : |
DPT |
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 |
-- |
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.