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Report No. : |
334163 |
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Report Date : |
05.08.2015 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL
METAL SOURCE TRADING EST |
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Registered Office : |
Prince Sultan Street, P O Box: 2083, 7062 and 10778, Jubail 31951 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
2002 |
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Com. Reg. No.: |
2055014275,
Jubail |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacture of
tubes and fittings, fabrication of system scaffolding, design and engineering
services. |
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No. of Employees : |
31 |
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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 |
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, 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 :
INTERNATIONAL METAL SOURCE TRADING EST
Country of Origin : Saudi
Arabia
Legal Form :
Sole Proprietorship
Registration Date : 2002
Commercial
Registration Number :
2055014275, Jubail
Invested Capital : SR 100,000
Total Workforce :
31
Activities :
Manufacture of tubes and fittings, fabrication of system scaffolding,
design and engineering services.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
INTERNATIONAL METAL
SOURCE TRADING EST
Location : Prince Sultan Street
PO Box : 2083, 7062 and 10778
Town : Jubail 31951
Country : Saudi Arabia
Telephone : (966-12) 3616889
Facsimile : (966-12) 3626281 / 3626289
Mobile : (966-56) 5360205 / 3423918
Email : info@imsest.com
Subject operates
from a medium sized suite of offices a warehouse and a workshop that are owned
and located in the Suburban Business Area of Jubail.
Name Position
·
Saeed
Hassan Al Mokhil Proprietor
& General Manager
·
Djamal
Aldin Marketing
Manager
Date of Establishment : 2002
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 2055014275,
Jubail
Invested Capital
: SR 100,000
Mr Saeed Hassan Al
Mokhil is the sole proprietor of the business.
Activities: Engaged in the manufacture of tubes and
fittings, fabrication of system scaffolding, design and engineering services.
Import
Countries: China, India and
United Arab Emirates
Export Countries: GCC countries
Operating Trend: Steady
Subject has a
workforce of 31 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 35,350,000 SR 38,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Saudi
British Bank
Main Branch
Jubail
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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.63.93 |
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|
1 |
Rs.99.82 |
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Euro |
1 |
Rs.70.05 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared by
: |
NIT |
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 |
-- |
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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.