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Report No. : |
319149 |
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Report Date : |
28.04.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
King Faisal Street, Petromin District, 19738, Jeddah 21445 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
25.06.1987 |
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Com. Reg. No.: |
4030057673 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the wholesale and retail of general foodstuff products, including nuts, rice, spices and coffee. |
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No of Employees : |
79 |
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
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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, telecommuncations, 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.
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Source
: CIA |
Company Name : BAHADI COMPANY FOR TRADING AND INDUSTRIES
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 25th June 1987
Commercial Registration Number : 4030057673, Jeddah
Chamber Membership Number : 26919
Issued Capital : SR 1,500,000
Paid up Capital : SR 1,500,000
Total Workforce : 79
Activities : Wholesalers and retailers of general foodstuff products.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Abdullah Bahadi, Commercial Manager
BAHADI COMPANY FOR
TRADING AND INDUSTRIES
Street : King Faisal Street
Area : Petromin District
PO Box : 19738
Town : Jeddah 21445
Country : Saudi Arabia
Telephone : (966-12) 6442222 / 6355555 / 6428025
/ 6448061 / 6388400 / 6385231 / 6385211 / 6385212
Facsimile : (966-12) 6432468 / 6380555
Email : alibahadi@hotmail.com / info@bahadi.com / ali@bahadi.com / bahadi@bahadi.com
Subject operates
from a medium sized suite of offices and a warehouse that are rented and located
in the Central Business Area of Jeddah.
Branch Office
(s)
Location Description
·
Bab
Mecca Street Office
premises
Jeddah
Tel: (966-12) 6431095
Fax: (966-12) 6380555
·
Riyadh Office
premises
Tel: (966-11) 4118887
Fax: (966-11) 4388349
Name Position
·
Ali
Obaid Saeed Bahadi Managing
Partner
·
Saeed Obaid Saeed Bahadi Partner
·
Mohamed
Obaid
Saeed Bahadi Partner
·
Mostafa Mohamed Ali Satti Finance
Manager
·
Abdullah
Abdul Wahab Sales
Manager
·
Abdullah
Bahadi Commercial
Manager
Date of Establishment : 28/10/1407
Hijri (corresponding to 25th June 1987)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030057673,
Jeddah
Chamber Member No. : 26919
Issued Capital : SR 1,500,000
Paid up Capital : SR 1,500,000
·
Ali
Obaid Saeed Bahadi
·
Saeed Obaid Saeed Bahadi
·
Mohamed Obaid Saeed Bahadi
Activities: Engaged in the wholesale and retail of general
foodstuff products, including nuts, rice, spices and coffee.
Import
Countries: Spain, South
America, India and the United States of America.
International
Suppliers:
·
Herpo Spain
·
San
Lazaro Guatemala
·
Imexa Guatemala
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Agrofood Brazil
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BRF Global Brazil
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Waterford United States of America
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Comex United States of America
·
Maskan
Overseas India
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Shri
Ram India
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Mahavir
Rice Mill India
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Bola India
·
Paramount Farms United States of America
Brand Names: BAHADI
Operating Trend: Steady
Subject has a workforce
of 79 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 168,250,000 SR 180,000,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Abdullah Bahadi, Commercial Manager
·
National
Commercial Bank
King Abdul Aziz Street
PO Box: 3555
Jeddah 21481
Tel: (966-12) 6446644
Fax:
(966-12) 6446644
·
Arab National
Bank
Madinah Road
PO Box: 9463
Jeddah 21413
Tel: (966-12) 6600272
Fax:
(966-12) 6650202
No complaints
regarding subject’s payments have been reported.
Local sources report
that subject meets its payments in a timely manner and 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. 63.61 |
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|
1 |
Rs. 96.55 |
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Euro |
1 |
Rs. 69.18 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
DPT |
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.