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Report No. : |
319148 |
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Report Date : |
29.04.2015 |
IDENTIFICATION DETAILS
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Name : |
TAWABEL AL MAJEED
TRADING EST |
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Registered Office : |
General Street, Petromin District, Dawar Al Nojoom, P O Box: 10409, Jeddah 21331 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
01.03.2013 |
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Com. Reg. No.: |
4030255270,
Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and
Distribution of Vegetables and Spices. |
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No. of Employees : |
10 |
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
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, 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.
|
Source
: CIA |
Company Name : TAWABEL AL
MAJEED TRADING EST
Country of Origin : Saudi
Arabia
Legal Form : Sole
Proprietorship
Registration Date : 1st
March 2013
Commercial
Registration Number :
4030255270, Jeddah
Invested Capital : SR 20,000
Total Workforce : 10
Activities :
Distributors of vegetables and spices.
Financial Condition : Undetermined
Payments : Unknown
Person Interviewed : Waleed Abbos,
General Manager
TAWABEL AL MAJEED
TRADING EST
Street : General Street
Area : Petromin District, Dawar Al Nojoom
PO Box : 10409
Town : Jeddah 21331
Country : Saudi Arabia
Telephone : (966-12) 6366458 / 6438267
Facsimile : (966-12) 6366458
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Jeddah.
Name Position
·
Mohamed
Ali Mohamed Al Ayash Al Zahrani Proprietor
·
Waleed
Abbos General
Manager
·
Mahfouz
Abdel Rahman Sales
Manager
Date of Establishment : 1st
March 2013
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030255270,
Jeddah
Invested Capital
: SR 20,000
Mr Mohamed Ali
Mohamed Al Ayash Al Zahrani is the sole proprietor of the business.
·
Mohamed
Ali Al Zahrani Establishment
Jeddah
·
Dana Al
Tamar Trading
Jeddah
CR No. 4030216700
Activities: Engaged in the import and distribution of
vegetables and spices.
Import
Countries: Turkey, Egypt,
Syria, India, China and Indonesia.
Local Suppliers:
·
Ahmed A
Bin Afif Trading Co Ltd
·
Astra
Industries
·
Alhalees
Group
Subject has a
workforce of 10 employees.
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.
·
Al
Rajhi Banking & Investment Corporation
Al Mahjar Road
Jeddah
Tel: (966-12) 6377810
·
National
Commercial Bank
PO Box: 3555
Jeddah 21481
Tel: (966-12) 6446644
Fax: (966-12) 6446644
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.33 |
|
|
1 |
Rs.96.52 |
|
Euro |
1 |
Rs.68.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
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Report Prepared
by : |
NIT |
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 |
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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.