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Report Date : |
17.09.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Sari Street Al Faisaliah District |
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Country : |
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Date of Incorporation : |
09.08.2009 |
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Com. Reg. No.: |
4030192482, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged in the import and distribution of general foodstuffs, including frozen and fresh meat and
vegetables. |
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No. of Employees |
03 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 :
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
9th August 2009
Commercial Registration Number :
4030192482, Jeddah
Membership Number :
139788
Invested Capital :
SR 30,000
Total Workforce :
3
Activities :
Distributors of general foodstuffs
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
AL SAUDIA AL
SHAMIQA EST FOR TRADING
Street : Sari Street
Area :
Al Faisaliah District
PO Box : 42093 &
12155
Town : Jeddah 21322
Country : Saudi Arabia
Telephone : (966-12)
6970613
Facsimile : (966-12)
6989069
Mobile : (966-50)
4642107
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Jeddah.
Name Position
· Ahmed Saeed Al Gharbiah Al Zahrani Proprietor
& General Manager
Date of
Establishment : 18/08/1430 Hijri
(corresponding to 9th August 2009)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 4030192482, Jeddah
Membership No. : 139788
Invested Capital : SR 30,000
Mr Ahmed Saeed Al Gharbiah Al Zahrani is the sole
proprietor of the business.
Activities: Engaged in the import and distribution of general foodstuffs, including frozen and fresh meat and
vegetables.
Subject has a workforce of 3 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
King Abdul Aziz
Street
PO Box: 3555
Jeddah 21481
Tel: (966-2)
6446644
Fax: (966-2)
6446644
Unknown
Please note that we were unable to contact the subject directly during
our investigation.
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.61.10 |
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1 |
Rs.99.04 |
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Euro |
1 |
Rs.79.03 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIS |
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.