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Report No. : |
338111 |
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Report Date : |
26.08.2015 |
IDENTIFICATION DETAILS
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Name : |
ABDULWAHAB AL SABBAN EST |
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Registered Office : |
Al Dhabab Street, Bab Sharif District, PO Box : 24392, Jeddah 21446 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
01.03.1985 |
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Com. Reg. No.: |
4030048306, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged in the import and distribution of sewing machines
and accessories |
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No. of Employee : |
15 |
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 :
ABDULWAHAB AL SABBAN EST
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
1st March 1985
Commercial Registration Number :
4030048306, Jeddah
Chamber Membership Number :
22028
Invested Capital : SR 35,000
Total Workforce :
15
Activities :
Distributors of sewing machines and accessories.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
ABDULWAHAB AL
SABBAN EST
Street : Al Dhabab
Street
Area : Bab Sharif
District
PO Box : 24392
Town : Jeddah 21446
Country : Saudi Arabia
Telephone : (966-12)
6481900 / 6483827
Facsimile : (966-12)
6488232
Mobile : (966-50)
5685475
Email : abd@alsabbanest.com
Subject operates from a small suite of offices that are rented and
located in the Suburban Business Area of Jeddah.
Name Position
· Abdul Wahab Jawahr
Ibrahim Al Sabban Proprietor
& General Manager
· Nasr Sayed El
Sayed Sales
Executive
Date of
Establishment : 08/06/1405 Hijri
(corresponding to 1st March 1985)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 4030048306, Jeddah
Chamber Member No. : 22028
Invested Capital : SR 35,000
Mr Abdul Wahab Jawahr Ibrahim Al Sabban is the sole proprietor of the
business.
Activities: Engaged in the import and distribution of sewing machines and
accessories.
Import Countries: Europe and the Far East
Brand Names: SINGER and JAILOK
Operating Trend: Steady
Subject has a workforce of 15 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
9,140,000 SR 9,200,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Riyad Bank
Prince Fahad
Street
PO Box: 9324
Jeddah 21413
Tel: (966-12)
6513333
No complaints regarding subject’s payments have been reported.
Please note that the correct name of the subject is “Abdulwahab Al
Sabban Est” and not “Abdulwahabb Al Sabban Est”.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.71 |
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|
1 |
Rs.105.10 |
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Euro |
1 |
Rs.77.11 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
ASH |
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.