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Report Date : |
24.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
BEN HENDI FACTORY FOR SCAFFOLDING AND
CONSTRUCTION REQUISITES |
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|
|
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Registered Office : |
Bahra Industrial Area, PO Box :
46217, Jeddah 21532 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
19.10.1999 |
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Com. Reg. No.: |
4030128459, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacture of scaffolding products |
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No. of Employees |
125 |
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 |
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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 – March 31st, 2014
|
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 |
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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 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 :
BEN HENDI FACTORY FOR SCAFFOLDING AND CONSTRUCTION
REQUISITES
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
19th October 1999
Commercial Registration Number :
4030128459, Jeddah
Chamber Membership Number :
74038
Invested Capital :
SR 1,000,000
Total Workforce :
125
Activities :
Manufacture of scaffolding products
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
BEN HENDI FACTORY FOR SCAFFOLDING AND CONSTRUCTION REQUISITES
Registered &
Physical Address
Location : Bahra
Industrial Area
PO Box : 46217
Town : Jeddah 21532
Country : Saudi Arabia
Telephone : (966-2) 6204582
/ 6207194 / 6205982 / 6200613
Facsimile : (966-2)
6204582
Email : info@manar.com.sa
Please note that subject’s previous address was, Jawharah District,
Jeddah.
Premises
Subject operates from a large suite of offices and a factory that are
rented and located in the Industrial Area of Jeddah.
Branch Office (s)
Location Description
Kilo 8 Office
premises
Jeddah
Name Position
Salim Ben Hendi Mussallam Al Harbi Proprietor
& General Manager
Mohamed Salim Factory
Manager
Date of Establishment : 09/07/1420 Hijri
(corresponding to 19th October 1999)
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 4030128459,
Jeddah
Chamber Member No. : 74038
Invested Capital : SR 1,000,000
Mr Salim Ben Hendi Mussallam Al Harbi is the sole proprietor of the
business.
Manar Al Omran Co
Jeddah
Salem Ben Hendi & Partner Holding Co
Jeddah
Activities: Engaged in the manufacture of scaffolding products.
Subject has a workforce of 125 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.
Arab National Bank
Madinah Road
PO Box: 9463
Jeddah 21413
Tel: (966-2) 6600272
Fax: (966-2) 6650202
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.58.48 |
|
UK Pound |
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.79.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.