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Report Date : |
02.10.2014 |
IDENTIFICATION DETAILS
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Name : |
MOHAMED YAHYA MUNSHI EST |
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Registered Office : |
Al Mohtasib Building, 2nd Floor, Office No. 6, Al Dhahab Street, Al Balad District, 20123 Jeddah 21455 |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
09.03.1979 |
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Com. Reg. No.: |
4030018094, Jeddah |
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Legal Form : |
Sole Proprietorship |
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LINE OF BUSINESS : |
ENGAGED IN THE WHOLESALE AND RETAIL OF LEATHER PRODUCTS,
READY MADE GARMENTS, FOOTWEAR AND IMITATION JEWELLERY AS WELL AS STATIONERY,
SCHOOL BAGS, PLASTIC UTENSILS AND GLASSWARE. |
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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
|
Source
: CIA |
Company Name : MOHAMED YAHYA MUNSHI EST
Country of Origin : Saudi
Arabia
Legal Form :
Sole Proprietorship
Registration Date : 9th
March 1979
Commercial
Registration Number : 4030018094, Jeddah
Chamber Membership
Number : 300149
Invested Capital : SR 50,000
Total Workforce : 15
Activities :
Wholesale and retail of leather products, ready made
garments, footwear and imitation jewellery as well as stationery, school bags,
plastic utensils and glassware.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Cheryan
Varghese, Administrative Executive
MOHAMED
YAHYA MUNSHI EST
Building : Al
Mohtasib Building, 2nd Floor, Office No. 6
Street : Al
Dhahab Street
Area : Al Balad District
PO Box : 20123
Town : Jeddah
21455
Country : Saudi Arabia
Telephone : (966-12) 6470563 / 6486536 / 6486527
/ 6472249
Facsimile : (966-12) 6470563
Mobile : (966-50) 5618465
Email : mymunshi@sol.net.sa / mymunshi@mymunshi.net
Please note that
subject’s previous address was, Al Mohtasib Building,
4th Floor, Office No. 11, Al Dhahab Street, Al Balad District,
Jeddah.
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Jeddah.
Branch Office
(s)
Location Description
·
Al Sanabel Centre Rented
showroom premises
Al
Hindawiya District
Jeddah
Tel: (966-12) 6478080
Name Position
·
Mohamed Yahya Abdul Shakoor Abdul Qadar Mushi Proprietor
& General Manager
·
Moazzam Mukhtar Ahmed Assistant
General Manager
·
Majaz Murtota Patel Commercial
Manager
·
Sunil
Varghes Sales
Manager
·
Cheryan
Varghese Administrative
Executive
Date of Establishment : 10/04/1399
Hijri (corresponding to 9th March 1979)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030018094, Jeddah
Chamber Member No. : 300149
Invested Capital
: SR 50,000
Mr Mohamed Yahya Abdul Shakoor Abdul Qadar Mushi is the
sole proprietor of the business.
Activities: Engaged in the wholesale and retail of leather products, ready made garments, footwear and
imitation
jewellery as well as stationery, school bags,
plastic utensils and glassware.
Import
Countries: India, Hong Kong
and Singapore
International
Suppliers:
·
Varoun
Industries India
·
Panjab
Stainless Steel India
·
Offcon India
·
Samrat India
·
Teckrawal India
·
Cillo
International Pvt Ltd India
·
Sun
Rise Containers Ltd India
·
Home
Make Furniture Co Hong Kong
·
Noural
Asia Pte Ltd Singapore
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 11,695,000 SR 12,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Commercial Bank
Palestine Square
PO Box: 7161
Jeddah 21462
Tel: (966-12) 6697384
Fax: (966-12) 6697388
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.75 |
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|
1 |
Rs.100.06 |
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Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared by
: |
PDT |
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 |
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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.