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Report Date : |
09.10.2014 |
IDENTIFICATION DETAILS
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Name : |
ZAMIL STEEL HOLDING COMPANY LIMITED |
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Formerly Known As : |
ZAMIL STEEL INDUSTRIES
CO LLC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
24.09.1998 |
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Com. Reg. No.: |
2050034116,
Dammam |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Manufacturers of
Steel Products. |
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No. of Employees : |
150 |
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
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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 : ZAMIL STEEL HOLDING COMPANY LIMITED
Country of Origin : Saudi
Arabia
Legal Form : Limited
Liability Company
Registration Date : 24th
September 1998
Commercial
Registration Number :
2050034116, Dammam
Chamber Membership
Number : 1874
Issued Capital : SR
253,000,000
Paid up Capital : SR
253,000,000
Total Workforce : 150
Activities :
Manufacturers of steel products
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : George Epen,
Finance Manager
ZAMIL STEEL HOLDING
COMPANY LIMITED
ZAMIL STEEL
INDUSTRIES CO LLC
Location : Zamil Street, Industrial Area,
Phase No. 1
PO Box : 877 & 270
Town : Dammam 31421
Country : Saudi Arabia
Telephone : (966-3) 8471840 / 8471844 / 8121120 /
8108254 / 8473333
Facsimile : (966-3) 8471291 / 8121281
Email : zamilsteel@zamil.com
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Dammam.
Name Position
·
Khalid
Abdullah Hamad Al Zamil Managing
Director
·
Ahmed
Abdullah Hamad Al Zamil Director
·
Nawaf
Al Zamil Assistant
General Manager
·
George
Oubrosi Marketing
Manager
·
Mohamed
Nabag Accounts
Manager
·
George
Epen Finance
Manager
·
Saeed
Al Qarni Administration
Manager
Date of Establishment : 02/06/1419
Hijri (corresponding to 24th September 1998)
History : Subject began in 1998 under the name “Zamil
Steel Industries Co LLC”. During 2013 it
changed its name to “Zamil Steel Holding”.
Legal Form :
Limited Liability Company
Commercial Reg. No. : 2050034116,
Dammam
Chamber Member No. : 1874
Issued Capital : SR 253,000,000
Paid up Capital : SR 253,000,000
·
Zamil
Industrial Investment (ZIIC) 100%
Dammam
CR No. 2050004215
Activities: Engaged in the manufacture of steel
products.
Import
Countries: Europe and the
Far East.
Subject has a workforce
of approximately 150 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.
·
National
Commercial Bank
PO Box: 13
Dammam 31411
Tel: (966-3) 8331188
Fax: (966-3) 8336058
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 company
is deemed 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.61.46 |
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1 |
Rs.98.77 |
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Euro |
1 |
Rs.77.65 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
NIT |
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.