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Report Date : |
06.11.2014 |
IDENTIFICATION DETAILS
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Name : |
NAIF BAJAD OTAIBI TRADING EST |
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Registered Office : |
Street No. 14, Al Souq Area, PO Box: 152 Dammam 31411 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
13.07.2009 |
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Com. Reg. No.: |
2050065955, Dammam |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of aluminium and steel for shade and car parking |
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No. of Employees : |
23 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 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 :
NAIF BAJAD OTAIBI TRADING EST
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
13th July 2009
Commercial Registration Number :
2050065955, Dammam
Invested Capital :
SR 25,000
Total Workforce :
23
Activities :
Distributors of aluminium and steel for shade and car parking
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
NAIF BAJAD OTAIBI TRADING EST
Registered &
Physical Address
Street : Street No.
14
Area : Al Souq Area
PO Box : 152
Town : Dammam 31411
Country : Saudi Arabia
Telephone : (966-13)
8350509
Facsimile : (966-13)
8337100
Mobile : (966-50)
8503366 / 1744927
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dammam.
Name Position
Naif Bajad Shuwaileh Al Otaibi Proprietor
& General Manager
Alaa Abu Omar Assistant
General Manager
Khalid Shamsuddine Sales
Manager
Date of Establishment : 21/07/1430 Hijri
(corresponding to 13th July 2009)
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 2050065955,
Dammam
Invested Capital : SR 25,000
Mr Naif Bajad Shuwaileh Al Otaibi is the sole proprietor of the
business.
Activities: Engaged in the import and distribution of aluminium and steel for shade
and car parking.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 23 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
12,880,000 SR
13,345,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Al Rajhi Banking & Investment Corporation
PO Box: 176
Dammam 31411
Tel: (966-13) 8328419
Fax: (966-13) 8331882
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.39 |
|
|
1 |
Rs.98.00 |
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Euro |
1 |
Rs.76.99 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
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.