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Report No. : |
315338 |
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Report Date : |
07.04.2015 |
IDENTIFICATION DETAILS
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Name : |
AL NAMLAH &
CO FOR TRADING AND SERVICES LTD |
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Registered Office : |
Al Nokhba
Commercial Center, North Tower, 2nd Floor, Hail Street, Al Ruwais
District, P O Box: 40737, Jeddah 21511 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
30.05.1988 |
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Com. Reg. No.: |
4030061076,
Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and
Distribution of General Foodstuffs, Including Pulses, Rice, Grain, Beans and
Sugar as well as animal feed. |
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No. of Employees : |
55 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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 : AL NAMLAH
& CO FOR TRADING AND SERVICES LTD
Country of Origin : Saudi
Arabia
Legal Form :
Limited Liability Partnership
Registration Date : 30th
May 1988
Commercial
Registration Number : 4030061076, Jeddah
Chamber Membership
Number : 29168
Issued Capital : SR
3,000,000
Paid up Capital : SR
3,000,000
Total Workforce : 55
Activities :
Distributors of general foodstuffs.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Abdul Moniem
Gabari, Finance Manager
AL NAMLAH & CO
FOR TRADING AND SERVICES LTD
Building : Al Nokhba Commercial Center, North
Tower, 2nd Floor
Street : Hail Street
Area : Al Ruwais District
PO Box : 40737
Town : Jeddah 21511
Country : Saudi Arabia
Telephone : (966-12) 6517778 / 6430416
Facsimile : (966-12) 6533432
Mobile : (966-50) 0023448
Email : namlaco@icc.net.sa / namlacoo-re@hotmail.com
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Jeddah.
Branch Office
(s)
Location Description
·
Hayer
Street Office
premises
PO Box: 281899
Riyadh 11392
Tel: (966-11) 2135011
Fax: (966-11) 2134490
Name Position
·
Abdulaziz
Abdulrahman Abdulaziz Al Abdullah Al Namlah Managing Partner
·
Sulaiman
Abdulrahman Abdulaziz Al Abdullah Al Namlah Partner
·
Ali Abdulrahman
Abdulaziz Al Abdullah Al Namlah Partner
·
Emad Al Sharawi Sales
Manager
·
Abdul
Moniem Gabari Finance
Manager
Date of Establishment : 14/10/1408
Hijri (corresponding to 30th May 1988)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030061076, Jeddah
Chamber Member No. : 29168
Issued Capital : SR 3,000,000
Paid up Capital : SR 3,000,000
·
Abdulaziz
Abdulrahman Abdulaziz Al Abdullah Al Namlah
·
Sulaiman
Abdulrahman Abdulaziz Al Abdullah Al Namlah
·
Ali
Abdulrahman Abdulaziz Al Abdullah Al Namlah
Activities: Engaged in the import and distribution of
general foodstuffs, including pulses, rice, grain, beans and sugar as well as
animal feed.
Import
Countries: Europe,
Southeast Asia and Mexico.
Brand Names: ABU SEIF
Operating Trend: Steady
Subject has a
workforce of 55 employees.
Financial
highlights provided by local sources are given below:
Currency: Saudi
Riyals (SR)
Year Ending 31/12/13: Year Ending 31/12/14:
Total Sales SR 19,650,000 SR 20,500,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Commercial Bank
PO Box: 3555
Jeddah 21481
Tel: (966-12) 6446644
Fax: (966-12) 6446644
·
Saudi
American Bank
Madinah Road
PO Box: 490
Jeddah 21411
Tel: (966-12) 6603993
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.16 |
|
|
1 |
Rs.92.73 |
|
Euro |
1 |
Rs.68.23 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>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 |
|
|
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 |
|
|
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 |
|
|
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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
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.