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Report No. : |
337251 |
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Report Date : |
26.08.2015 |
IDENTIFICATION DETAILS
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Name : |
ATAD ENERGY COMPANY LIMITED |
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Registered Office : |
Abqaiq Industrial Area, PO Box 117, Abqaiq 31992 |
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Country : |
Saudi Arabia
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Date of Incorporation : |
24.04.2006 |
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Com. Reg. No.: |
2059001465 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the import and distribution of minerals |
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No. of Employees : |
5 |
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 :
ATAD ENERGY COMPANY LIMITED
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Company
Registration Date :
24th April 2006
Commercial Registration Number :
2059001465
Chamber Membership Number :
91139
Issued Capital : SR 500,000
Paid up Capital :
SR 500,000
Total Workforce :
5
Activities :
Distributors of minerals
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Mahmoud Najem, Financial Manager
ATAD ENERGY COMPANY LIMITED
Registered &
Physical Address
Location : Abqaiq
Industrial Area
PO Box : 117
Town : Abqaiq 31992
Country : Saudi Arabia
Telephone : (966-13)
5661002
Facsimile : (966-13)
5660422
Email : info@atadenergy.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Industrial Area of Abqaiq.
Name Position
Hadi Hamd Al Murri Managing
Director
Mahmoud Najem Financial
Manager
Date of Establishment : 24th
April 2006
Legal Form : Limited Liability
Company
Commercial Reg. No. : 2059001465
Chamber Member No. : 91139
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Name of Shareholder (s)
Hadi Hamd Al Murri
Members of Mr Hadi Hamd Al Murri’s family
Activities: Engaged in the import and distribution of minerals
Import Countries: Europe and the Far East
Clients:
Subject has a workforce of 5 employees.
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.
Arab National Bank (ANB)
King Faisal Street
PO Box: 56921
Riyadh 11564
Tel: (966-11) 4029000
Fax: (966-11) 4027747
No complaints regarding subject’s payments have been reported.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed 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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DIV |
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Report Prepared
by : |
TPT |
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.