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Report No. : |
337248 |
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Report Date : |
20.08.2015 |
IDENTIFICATION DETAILS
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Name : |
ARABIAN MINERALS
AND CHEMICALS CO LTD (AMC) |
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Registered Office : |
Street No.32,
Dammam Industrial Area 1, P O Box: 2231 & 22, Dammam 31451 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
10.02.1977 |
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Com. Reg. No.: |
2050004593,
Dammam |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of
Drilling Fluids and Related Chemicals. |
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No. of Employees : |
45 |
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 : ARABIAN
MINERALS AND CHEMICALS CO LTD (AMC)
Country of Origin : Saudi
Arabia
Legal Form : Limited
Liability Company
Registration Date : 10th
February 1977
Commercial
Registration Number :
2050004593, Dammam
Issued Capital : SR
6,800,000
Paid up Capital : SR
6,800,000
Total Workforce : 45
Activities :
Manufacturers of drilling fluids and related chemicals.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
ARABIAN MINERALS
AND CHEMICALS CO LTD (AMC)
Street : Street No. 32
Area : Dammam Industrial Area 1
PO Box : 2231 & 22
Town : Dammam 31451
Country : Saudi Arabia
Telephone : (966-13) 8472187
Facsimile : (966-13) 8473608 / 8473472
Subject operates from
a medium sized suite of offices and a factory that are rented and located in
the Industrial Area of Dammam.
Name Position
·
Abdullah
Rashed Al Rushaid Managing
Director
·
Doha
Abdul Hadial Qahtani Director
·
Haifa
Saleh Al Suqiar Director
·
Bruce
Olson General
Manager
·
Mohamed
Sharif Operations
Manager
·
Thomas
Shavin Finance
Manager
Date of Establishment : 10th
February 1977
Legal Form :
Limited Liability Company
Commercial Reg. No. : 2050004593,
Dammam
Issued Capital : SR 6,800,000
Paid up Capital : SR 6,800,000
·
Abdullah
Rashed Al Rushaid
·
Doha
Abdul Hadial Qahtani
·
Haifa
Saleh Al Suqiar
·
Management
& Engineering Resources Company
United States of America
Activities: Engaged in the manufacture of drilling
fluids and related chemicals.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a
workforce of 45 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 24,780,000 SR 25,300,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Al Bank
Al Saudi Al Fransi
PO Box: 754
Dammam
Tel: (966-13) 8985760
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.65.25 |
|
|
1 |
Rs.102.25 |
|
Euro |
1 |
Rs.72.20 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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 |
|
|
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.