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Report No. : |
315753 |
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Report Date : |
03.04.2015 |
IDENTIFICATION DETAILS
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Name : |
AL SHAKHS TRADING COMPANY |
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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 : |
20.12.1988 |
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Com. Reg. No.: |
2062006385, Sihat |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Wholesale and retail of general foodstuffs. |
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No. of Employees : |
160 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 :
AL SHAKHS TRADING COMPANY
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Partnership
Registration Date :
20th December 1988
Commercial Registration Number :
2062006385, Sihat
Chamber Membership Number :
24041
Issued Capital : SR 2,000,000
Paid up Capital :
SR 2,000,000
Total Workforce :
160
Activities :
Wholesale and retail of general foodstuffs.
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed : Thamer Hashim Abdul Reda Al Shakhs, Partner
AL SHAKHS TRADING COMPANY
Registered &
Physical Address
Location : Abu Moosa Al Ansari Street (Cross
Mecca Street)
PO Box : 193
Town : Sihat 31972
Country :
Telephone : (966-3) 8500168
/ 8503125
Facsimile : (966-3)
8561178
Mobile : (966-50)
5865810
Email : ashakhs_est@hotmail.com
/ info@alshakhstrading.com
Premises
Subject operates from a medium sized suite of offices and a showroom
that are rented and located in the Central Business Area of Sihat.
Branch Office (s)
Location Description
King Faisal Street Rented
showroom premises
Dammam
Tel: (966-3) 8260392
Jeddah Rented
showroom premises
Tel: (966-50) 0128629
Riyadh Rented showroom
premises
Tel: (966-50) 6925786
Tabuk Rented
showroom premises
Qassim Rented
showroom premises
Arar Rented
showroom premises
Al Ahsa Rented
showroom premises
Name Position
Hashim Abdul Reda Al Shakhs Managing
Partner
Thamer Hashim Abdul Reda Al
Shakhs Partner
Yasser Hashim Abdul Reda Al
Shakhs Partner
Thamer Hashim Abdul Reda Al Shakhs General
Manager
Mohamed Mohamed Wafi Sales
Manager
Shehata Al Shahat Financial
Controller
Raju Shashrout Purchasing
Manager
Date of Establishment : 11/05/1409 Hijri (corresponding to 20th December 1988)
History : Subject started
in 1988 as a Sole Proprietorship, however in 2014 it re-registered as a
Limited Liability Company.
Legal Form : Limited Liability Company
Commercial Reg. No. : 2062006385, Sihat
Chamber Member No. : 24041
Issued Capital : SR 2,000,000
Paid up Capital : SR 2,000,000
Name of Partners
Hashim Abdul Reda Al Shakhs
Thamer Hashim Abdul Reda Al
Shakhs
Yasser Hashim Abdul Reda Al
Shakhs
Activities: Engaged in the wholesale and
retail of general foodstuffs, specialising in Thai
parboiled rice, Indian basmati and non basmati rice, cashew nuts, sesame seeds,
sugar, vegetable cooking oil, sugar, milk powder, oil and ghee.
Import Countries: India
and Sri Lanka
International
Suppliers:
Shiva Shah Ltd India
Mahavir Rice India
D D International India
Ram Dave Rice Mill India
Aroma Rice India
Brand Names: BUKHARY,
ALMIZA, AL DEERA, CRIPTAL, GOLDSTAR, AHLAN and NOOR
Operating Trend: Steady
Subject has a workforce of 160 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
208,750,000 SR 220,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Thamer Hashim Abdul Reda Al Shakhs, Partner
Arab National Bank (ANB)
King Street
PO Box: 18
Dammam 31411
Tel: (966-3) 8323440
Fax: (966-3) 8337829
Riyad Bank
Trade Finance Center
PO Box: 2090
Dammam 21431
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 company 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.62.59 |
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|
1 |
Rs.92.46 |
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Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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.