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Report Date : |
22.09.2014 |
IDENTIFICATION DETAILS
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Name : |
FARIS AL KHALEEJ 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 : |
16.12.1957 |
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Com. Reg. No.: |
4031001595, Makkah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and retail of general foodstuff products. |
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No. of Employees : |
12 |
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.
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 : FARIS AL KHALEEJ EST
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
16th December 1957
Commercial Registration Number :
4031001595, Makkah
Chamber Membership Number :
4056
Invested Capital :
SR 50,000
Total Workforce :
12
Activities :
Wholesale and retail of general foodstuff products.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed :
Osama Al Habal, Assistant General Manager
FARIS AL KHALEEJ EST
Registered &
Physical Address
Street : Al Halka Al Kadimah Street, Jarwal Street
Area : Souq Area
PO Box : 8861
Town : Makkah
Country : Saudi Arabia
Telephone : (966-2) 5429055
/ 5463544
Facsimile : (966-2)
5429221
Mobile : (966-50)
5508414
Email : farisalkhaleej@hotmail.com
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Makkah.
Name Position
Saif Abdo Al Yamani Proprietor
& General Manager
Osama Al Habal Assistant
General Manager
Belal Osama Al Habal Commercial
Manager
Date of Establishment : 24/05/1377 Hijri
(corresponding to 16th December 1957)
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 4031001595,
Makkah
Chamber Member No. : 4056
Invested Capital : SR 50,000
Mr Saif Abdo Al Yamani is the sole proprietor of the business.
Activities: Engaged in the wholesale and retail of general foodstuff products.
Import Countries: India and Sri Lanka
International Suppliers:
Anmar Export Sri
Lanka
Ali Askar Co United
Arab Emirates
Dana Trading United
Arab Emirates
Operating Trend: Steady
Subject has a workforce of 12 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
10,800,000 SR
12,200,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Osama Al Habal,
Assistant General Manager
National Commercial Bank
Masfalah Branch
Makkah
Tel: (966-2) 5367051
Fax: (966-2) 5345457
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.60.81 |
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1 |
Rs.100.06 |
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Euro |
1 |
Rs.78.47 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
SDA |
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.