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Report No. : |
335253 |
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Report Date : |
08.08.2015 |
IDENTIFICATION DETAILS
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Name : |
SAOUD &
NASSER AL HAZMI CO LTD |
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Registered Office : |
Bin Yaqoob Complex Al Nakheel District 2449 Jeddah 21451 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
03.11.1995 |
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Com. Reg. No.: |
4030117260,
Jeddah |
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Legal Form : |
Limited Liability
Partnership |
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Line of Business : |
Subject is engaged in the
wholesale and retail of sanitary ware, ceramics, glass and steel products |
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No. of Employee : |
65 |
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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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.
|
Source
: CIA |
Company Name : SAOUD
& NASSER AL HAZMI CO LTD
Country of Origin : Saudi
Arabia
Legal Form : Limited
Liability Partnership
Registration Date : 3rd
November 1995
Commercial
Registration Number :
4030117260, Jeddah
Chamber Membership
Number : 59057
Issued Capital : SR
5,000,000
Paid up Capital : SR
5,000,000
Total Workforce :
65
Activities :
Wholesalers and retailers of sanitary ware, ceramics, glass and steel
products.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ahmed Abdo,
Accountant
SAOUD & NASSER AL HAZMI CO LTD
Location : Bin Yaqoob Complex
Area : Al Nakheel District
PO Box : 2449
Town : Jeddah 21451
Country : Saudi Arabia
Telephone : (966-12) 6293333 / 6293577
Facsimile : (966-12) 6293588 / 6293833
Mobile : (966-56) 3318484
Email : snhazmi@yahoo.com
Subject operates
from a medium sized suite of offices and a showroom that are rented and located
in the Central Business Area of Jeddah.
Branch Offices
Location Description
·
Riyadh Showroom
premises
Tel: (966-11)
4774480
·
Dammam Showroom
premises
Tel: (966-13)
8146333
·
Madinah Showroom premises
Tel: (966-14) 8697693
·
Jizan Showroom
premises
Tel: (966-17)
3263333
·
Qassim Showroom
premises
Tel: (966-16)
3232367
·
Khamis Mushait Showroom
premises
Tel: (966-17)
2351818
Name Position
·
Saoud
Abdulrahman Al Hazmi Managing
Partner
·
Nasser
Abdulrahman Al Hazmi Partner
·
Bassem
Saoud Abdulrahman Al Hazmi General
Manager
·
Abdulaziz
Mohamed Eid Public
Relations Officer
·
Ibrahim
Sulaiman Financial
Manager
·
Ahmed
Abdo Accountant
Date of Establishment : 09/06/1416
Hijri (corresponding to 3rd November 1995)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030117260,
Jeddah
Chamber Member No. : 59057
Issued Capital : SR 5,000,000
Paid up Capital : SR 5,000,000
·
Saoud
Abdulrahman Al Hazmi
·
Nasser
Abdulrahman Al Hazmi
Activities: Engaged in the wholesale and retail of
sanitary ware, ceramics, glass and steel products.
Import
Countries: Europe and the
Far East
International Suppliers:
·
Duri Italy
·
GS Italy
·
OM Italy
·
Saudi Italian Factory Saudi Arabia
·
Al Bader Factory Saudi
Arabia
·
Saudi Kazaf Saudi
Arabia
·
LESCO Egypt
Operating Trend: Steady
Subject has a
workforce of 65 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 42,800,000 SR 44,120,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Commercial Bank
King Abdul Aziz Street
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
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.81 |
|
|
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.69.66 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
|
|
|
|
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 |
|
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 |
|
<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.