MIRA INFORM REPORT

 

 

Report No. :

316870

Report Date :

15.04.2015

 

IDENTIFICATION DETAILS

 

Name :

CABRITO RESTAURANTS

 

 

Registered Office :

Khalid Ibn Waleed Street, Al Andalus District, PO Box 10595, Riyadh

 

 

Country :

Saudi Arabia

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

13.01.2003

 

 

Com. Reg. No.:

1010183526

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Engaged as operators of restaurants and fast food outlets.

 

 

No. of Employees :

40

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

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

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. In 2014 the Kingdom ran its first budget deficit since 2009, and faces budget deficits for the foreseeable future because it requires an oil price greater than $100 per barrel to balance its budget. Although the Kingdom can finance high deficits for several years by drawing down its considerable foreign assets or borrowing, it probably will begin to reduce capital spending if oil prices stay low through the next year.

 

Source : CIA

 

 

SUMMARY

 

Company Name                                    : CABRITO RESTAURANTS

Country of Origin                                   : Saudi Arabia

Legal Form                                           : Limited Liability Company

Registration Date                                  : 13th January 2003

Commercial Registration Number           : 1010183526, Riyadh

Membership Number                             : 130088

Issued Capital                                       : SR 500,000

Paid up Capital                                     : SR 500,000

Total Workforce                         : 40

Activities                                               : Operators of restaurants and fast food outlets

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

 

COMPANY NAME

 

CABRITO RESTAURANTS

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Khalid Ibn Waleed Street

Area                 : Al Andalus District

PO Box            : 10595

Town                : Riyadh

Country : Saudi Arabia

Telephone         : (966-11) 2357070

Facsimile          : (966-11) 2357070

Mobile              : (966-55) 0487070 / 7487070

Email                : cabritorestaurant@gmail.com

 

Premises

 

Subject operates from a medium sized suite of offices, a warehouse and a restaurant that are rented and located in the Central Business Area of Riyadh.

 

Branch Offices

 

Location                                                                                               Description

 

Al Badiyah                                                                                            Restaurant

Riyadh

 

Rawdah                                                                                                Restaurant

Riyadh

 

Salahuddin                                                                                            Restaurant

PO Box: 104777

Riyadh 11636

 

Ishbiliyah                                                                                              Restaurant

Riyadh

 

 

KEY PRINCIPALS

 

Name                                                                                                   Position

 

Abdul Aziz Ali Malek                                                                              Managing Director

 

Fahd Hamad Al Malek                                                                            Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 13th January 2003

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.   : 1010183526, Riyadh

 

Membership No.           : 130088

 

Issued Capital              : SR 500,000

 

Paid up Capital            : SR 500,000

 

Name of Shareholder (s)

 

Abdul Aziz Ali Malek

 

Fahd Hamad Al Malek

 

 

OPERATIONS

 

Activities: Engaged as operators of restaurants and fast food outlets.

 

Import Countries: Europe and GCC countries.

 

Operating Trend: Steady

 

Subject has a workforce of 40 employees.

 

 

FINANCIAL DATA

 

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 21,300,000                           SR 22,475,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

Riyad Bank

King Abdul Aziz Road

PO Box: 22622

Riyadh 11416

Tel: (966-11) 4013030

 

Al Rajhi Banking & Investment Corporation

PO Box: 28

Riyadh 11411

Tel: (966-11) 4054647 / 4054244

Fax: (966-11) 4044753 / 4052950

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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.62.39

UK Pound

1

Rs.91.05

Euro

1

Rs.66.16

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TPT

 

               


 

RATING EXPLANATIONS

 

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

 

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

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.