MIRA INFORM REPORT

 

 

Report No. :

336336

Report Date :

19.08.2015

 

IDENTIFICATION DETAILS

 

Name :

MANSOUR AL MOSAID CO FOR TRADING & CONTRACTING

 

 

Registered Office :

Shop 43-45, Markaz Suhaili 14238 Jeddah 21424

 

 

Country :

Saudi Arabia

 

 

Date of Incorporation :

01.01.2003

 

 

Com. Reg. No.:

4030144087, Jeddah

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Subject is engaged as general building contractors for residential, commercial, industrial, institutional building and related works.

 

 

No. of Employee :

3,000

 

 

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 – 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

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, 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

 

SUMMARY

 

Company Name                                    : MANSOUR AL MOSAID CO FOR TRADING & CONTRACTING

Country of Origin                                   : Saudi Arabia

Legal Form                                           : Limited Liability Company

Start Date                                             : 1978

Registration Date                                  : 1st January 2003

Commercial Registration Number           : 4030144087, Jeddah

Membership Number                             : 96036

Issued Capital                                       : SR 2,000,000

Paid up Capital                                     : SR 2,000,000

Total Workforce                                     : 3,000

Activities                                               : General building contractors.

Financial Condition                                : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

 

 

COMPANY NAME

 

MANSOUR AL MOSAID CO FOR TRADING & CONTRACTING

 

 

ADDRESS

 

Registered & Physical Address

 

Location           : Shop 43-45, Markaz Suhaili

 

PO Box                        : 14238

Town                : Jeddah 21424

Country : Saudi Arabia

 

Telephone         : (966-12) 6635617 / 6511532

Facsimile          : (966-12) 6652223

 

 

Premises

 

Subject operates from a large suite of offices and a showroom that are rented and located in the Central Business Area of Jeddah.

 

 

Branch Offices

 

     Location                                                                                          Description

 

·       Al Borj Tower, Office No. 204                                                                        Office premises

Madinah Road

     PO Box: 23025

Jeddah

 

·       Yanbu                                                                                              Office premises

 

·       Al Khobar                                                                                         Office premises

 

·       Jizan                                                                                                Office premises

 

·       Riyadh                                                                                             Office premises

 

 

KEY PRINCIPALS

 

 

     Name                                                                                               Position

 

·       Mansour Mosaid Ahmed Al Sadri                                                      Managing Director

 

·       Asrar Mansour Mosaid Ahmed Al Sadri                                              Director

 

·       Hanouf Mansour Mosaid Ahmed Al Sadri                                           Director

 

·       Lula Mansour Mosaid Ahmed Al Sadri                                               Director

 

·       Ahmed Mansour Mosaid Ahmed Al Sadri                                           Director

 

·       Hafez Abdul Kareem                                                             General Manager

 

·       Ahmed Idriss                                                                                    Finance Manager

 

 

LEGAL FORM & OWNERS

 

 

Date of Establishment  : 1978

 

History                         : Subject began in 1978 as a Sole Proprietorship, however on 1st January 2003 it re-

                          registered as a Limited Liability Company.

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.   : 4030144087, Jeddah

 

Membership No.           : 96036

 

Issued Capital              : SR 2,000,000

 

Paid up Capital            : SR 2,000,000

 

 

Name of Shareholder (s)

 

·       Mansour Mosaid Ahmed Al Sadri

 

·       Asrar Mansour Mosaid Ahmed Al Sadri

 

·       Hanouf Mansour Mosaid Ahmed Al Sadri

 

·       Lula Mansour Mosaid Ahmed Al Sadri

 

·       Ahmed Mansour Mosaid Ahmed Al Sadri

 

 

AFFILIATED COMPANIES

 

 

·       Mansour Al Mosaid Company

Port Area

14804 & 14238

Jeddah 21434

Tel: (966-12) 6511532 / 6511293 / 6523150 / 6523162 / 6759104

Fax: (966-12) 6491967 / 6523156

 

 

OPERATIONS

 

Activities: Engaged as general building contractors for residential, commercial, industrial, institutional building and

     related works.

 

Import Countries: Europe, the Far East and the United States of America.

 

Subject has a workforce of approximately 3,000 employees.

 

 

FINANCIAL DATA

 

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.

 

 

BANKERS

 

·       Arab National Bank

Madinah Road

PO Box: 9463

Jeddah 21413

Tel: (966-12) 6600272

Fax: (966-12) 6650202

 

 

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.65.22

UK Pound

1

Rs.102.23

Euro

1

Rs.72.39

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ANK

 

 

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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