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Report Date : |
28.11.2014 |
IDENTIFICATION DETAILS
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Name : |
AL QARYAN GROUP FOR TRADING INDUSTRY & CONTRACTING |
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Formerly Known As : |
MOHAMED QARYAN AL QAHTANI AND PARTNERS GROUP FOR TRADING INDUSTRY
& CONTRACTING |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.10.2014 |
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Date of Incorporation : |
14.05.2000 |
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Com. Reg. No.: |
2050036333, Dammam |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
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No of Employees : |
530 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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) |
|
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 :
AL QARYAN 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
AL QARYAN GROUP FOR TRADING INDUSTRY & CONTRACTING
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
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.
Name Position
· Mohamed Qaryan
Fahid Al Qahtani Managing
Partner
· Hamoud Qaryan Al
Qahtani Partner
· Fahid Qaryan Al
Qahtani Partner
· Abdul Rahman Fahd
Al Qaryan 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
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
· Abdul Rahman Fahd
Al Qaryan
· Al Qaryan Steel
Company
Industrial Area
PO Box: 2718 &
3703
Dammam 21481
Saudi Arabia
Tel: (966-13)
8226969
Fax: (966-13)
8223939
· Fahid Qaryan Al Qahtani Est
Dammam
Saudi Arabia
Activities: Engaged in the processing and export of scrap metal (both ferrous and
non ferrous), including cable
recycling and metal recycling.
Subject is also engaged in the wholesale and retail of machinery,
hardware, tools and batteries.
Import Countries: Europe and GCC countries
Suppliers:
·
Rajdani Refinery Pvt Ltd India
·
Abora Metals United
Arab Emirates
·
Sharif Metals United
Arab Emirates
·
Sapphire Marble &
Building Materials LLC United
Arab Emirates
Operating Trend: Steady
Subject has a workforce of approximately 530 employees.
Financial highlights provided by local sources are given below:
Currency: Saudi Riyals (SR)
Year Ending
31/12/12: Year Ending
31/12/13: Period
01/01/14-31/10/14:
Total Sales SR 1,607,167,814 SR 2,000,000,000 SR 1,950,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Afroz Ahmed,
Finance Manager
·
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
Regular
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.61.86 |
|
|
1 |
Rs.97.69 |
|
Euro |
1 |
Rs.77.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
SMN |
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 |
|
-- |
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.