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Report Date : |
02.10.2014 |
IDENTIFICATION DETAILS
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Name : |
AMEEN NAJI SULTAN EST |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
10.06.1985 |
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Com. Reg. No.: |
4030050304 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged in the wholesale and retail of furniture materials
and products, bed sheets and covers, throws and carpets. |
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No of Employees : |
15 |
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.
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Source
: CIA |
Company Name : AMEEN NAJI SULTAN EST
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
10th June 1985
Commercial Registration Number :
4030050304, Jeddah
Chamber Membership Number :
2416
Invested Capital :
SR 65,000
Total Workforce :
15
Activities :
Wholesale and retail of furniture materials and products, bed sheets and
covers, throws and carpets.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
AMEEN NAJI SULTAN EST
Registered &
Physical Address
Building : Ameen Naji
Building
Street : Dhahab
Street
Area : Bab Sharif
Area
PO Box : 17456
Town : Jeddah 21484
Country : Saudi Arabia
Telephone : (966-2) 6477674
/ 6477418 / 6478854 / 6481065
Facsimile : (966-2)
6485329
Premises
Subject operates from a small suite of offices and a showroom that are owned
and located in the Central Business Area of Jeddah.
Name Position
Ameen Naji Abdul Jalil Sultan Proprietor
& General Manager
Abdul Qader Sales
Manager
Date of Establishment : 21/09/1405 Hijri
(corresponding to 10th June 1985)
Legal Form :
Sole
Proprietorship
Commercial Reg. No. : 4030050304,
Jeddah
Chamber Member No. : 2416
Invested Capital : SR 65,000
Mr Ameen Naji Abdul Jalil Sultan is the sole proprietor of the business.
Activities: Engaged in the wholesale and retail of furniture materials and
products, bed sheets and covers, throws and carpets.
Import Countries: Europe and GCC countries.
Operating Trend: Steady
Subject has a workforce of 15 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
16,725,000 SR
17,300,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
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.
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
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
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|
1 |
Rs.100.07 |
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Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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.