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Report Date : |
16.10.2014 |
IDENTIFICATION DETAILS
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Name : |
GERMAN METAL SURFACE TREATMENT CHEMICALS CO |
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Registered Office : |
Musad Bin Abdulaziz Street, P O Box: 2951, Riyadh 11461 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Year of Establishment : |
2006 |
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Com. Reg. No.: |
1010192912, Riyadh |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of pre-treatment
chemicals for anodizing and powder coating lines. |
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No. of Employees : |
22 |
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) |
|
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 : GERMAN
METAL SURFACE TREATMENT CHEMICALS CO
Country of Origin : Saudi
Arabia
Legal Form :
Limited Liability Company
Registration Date : 2006
Commercial
Registration Number : 1010192912,
Riyadh
Chamber Membership
Number : 140436
Issued Capital : SR
6,500,000
Paid up Capital : SR
6,500,000
Total Workforce : 22
Activities :
Manufacture of pre-treatment chemicals
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
GERMAN METAL
SURFACE TREATMENT CHEMICALS CO
Location : Musad Bin Abdulaziz Street
PO Box : 2951
Town : Riyadh 11461
Country : Saudi Arabia
Telephone : (966-11) 4647711
Facsimile : (966-11) 2170866
Email : khaiyani@rawabi.com.sa / info@rawabi.com.sa
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Riyadh.
Name Position
·
Saud
Mohamed Nasser Al Arifi Managing
Director
·
Matar
Saud Mohamed Nasser Al Arifi Director
·
Bandar
Saud Mohamed Nasser Al Arifi Director
·
Barakat
Saud Mohamed Nasser Al Arifi Director
·
Khalil
Turki Sulaiman Director
Date of Establishment : 2006
Legal Form :
Limited Liability Company
Commercial Reg. No. : 1010192912,
Riyadh
Chamber Member No. : 140436
Issued Capital : SR 6,500,000
Paid up Capital : SR 6,500,000
·
National Co For Sulphur Products 85%
Riyadh
Saudi Arabia
·
Khalil
Turki Sulaiman 15%
·
Rawabi Marketing
International (RMI)
Musaed Bin Abdul Aziz Street
PO Box: 2951
Riyadh 11461
Tel: (966-11) 4647711 / 4762735 / 4783986 / 2170865
Fax:
(966-11) 2170866 / 4774426
·
Scientific Medical Equipment House (SMH)
Riyadh
Saudi Arabia
Activities: Engaged in the manufacture of pre-treatment
chemicals for anodizing and powder coating lines.
Import
Countries: Germany and
India
Operating Trend: Steady
Subject has a
workforce of 22 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 10,400,000 SR 10,750,000
Local sources
consider subject’s financial condition to be Fair.
·
Riyad
Bank
King Abdul Aziz Road
PO Box: 22622
Riyadh 11416
Tel: (966-11) 4013030
·
Saudi
Investment Bank (SAIB)
PO Box: 3533
Riyadh 11481
Tel: (966-11) 4778433 / 4792851 / 4761580
Fax: (966-11) 4776781 /
4761976
No complaints
regarding subject’s payments have been reported.
Credit amount 60,000
Amount overdue 0
Payment terms 90
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
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.61.11 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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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.