MIRA INFORM REPORT
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Report No. : |
315414 |
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Report Date : |
10.04.2015 |
IDENTIFICATION DETAILS
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Name : |
ASIA HUSSAIN
SAILANY TRADING EST |
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Registered Office : |
Imam Abdullah Bin Saud Bin Abdul Aziz Road Al Yarmouk Area 245 Riyadh 11382 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
25.10.2008 |
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Com. Reg. No.: |
1010257255,
Riyadh |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Engaged in the import
and distribution of readymade garments, perfumes, cosmetics and beauty
products. |
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No. of Employee : |
4 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
SUMMARY
Company Name : ASIA
HUSSAIN SAILANY TRADING EST
Country of Origin : Saudi
Arabia
Legal Form :
Sole Proprietorship
Registration Date : 25th
October 2008
Commercial
Registration Number :
1010257255, Riyadh
Membership Number : 206104
Invested Capital : SR 10,000
Total Workforce : 4
Activities :
Distributors of readymade garments, perfumes, cosmetics and beauty
products
Financial Condition : Undetermined
Payments :
Unknown
COMPANY
NAME
ASIA HUSSAIN
SAILANY TRADING EST
ADDRESS
Registered & Physical
Address
Street : Imam Abdullah Bin Saud Bin
Abdul Aziz Road
Area : Al Yarmouk Area
PO Box : 245
Town : Riyadh 11382
Country : Saudi Arabia
Telephone : (966-11) 4777720
Facsimile : (966-11) 4092255
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Riyadh.
KEY
PRINCIPALS
Name Position
·
Mrs
Asia Hussain Abdul Rab Sailany Proprietor
& General Manager
LEGAL
FORM & OWNERS
Date of Establishment : 25th
October 2008
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010257255,
Riyadh
Membership No. : 206104
Invested Capital
: SR 10,000
Mrs Asia Hussain
Abdul Rab Sailany is the sole proprietor of the business.
AFFILIATED
COMPANIES
·
Asia
Hussain Sailany Trading Est
Jeddah
CR No. 4030165457
OPERATIONS
Activities: Engaged in the import and distribution of
readymade garments, perfumes, cosmetics and beauty products.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 4 employees.
FINANCIAL
DATA
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.
BANKERS
·
National
Commercial Bank
Batha Branch
PO Box: 34
Tel: (966-11) 4010076 / 4025084
Fax: (966-11) 4034625
PAYMENT
HISTORY
Unknown
GENERAL
COMMENTS
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.26 |
|
|
1 |
Rs.92.49 |
|
Euro |
1 |
Rs.66.99 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ANK |
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 |
-- |
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.