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Report No. : |
352455 |
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Report Date : |
02.12.2015 |
IDENTIFICATION DETAILS
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Name : |
AL TAROUF TISSUE FACTORY CO LTD |
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Registered Office : |
Al Shifa District, PO Box 61449, Riyadh 11565 |
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Country : |
Saudi
Arabia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
01.03.2011 |
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Com. Reg. No.: |
1010303936 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the manufacture of tissues, napkins and paper pulp. |
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No. of Employees : |
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
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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, telecommunications, 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 :
AL TAROUF TISSUE FACTORY CO LTD
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Company
Registration Date :
1st March 2011
Commercial Registration Number :
1010303936, Riyadh
Membership Number :
247113
Issued Capital :
SR 500,000
Paid up Capital :
SR 500,000
Total Workforce :
65
Activities :
Manufacturer of tissues, napkins and paper pulp
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Osama Bashir Kassaji, General Manager
AL TAROUF TISSUE FACTORY CO LTD
Registered &
Physical Address
Location : Al Shifa
District
PO Box : 61449
Town : Riyadh 11565
Country : Saudi Arabia
Telephone : (966-11)
4190231
Facsimile : (966-11)
4190231
Mobile : (966-56)
9992224
Email : info@altarouf.com
Premises
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of Riyadh.
Name Position
Khaled Mohamed Al Modayhen Managing
Director
Osama Bashir Kassaji General
Manager
Date of Establishment : 1st
March 2011
Legal Form : Limited Liability
Company
Commercial Reg. No. : 1010303936,
Riyadh
Membership No. : 247113
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Name of Shareholder (s)
Khaled Mohamed Al Modayhen
Al Tarouf Tissue Co
Riyadh
Activities: Engaged in the manufacture of tissues, napkins and paper pulp.
Import Countries: Europe and the
Far East.
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
17,200,000 SR 18,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
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.
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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.66.52 |
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|
1 |
Rs.100.44 |
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Euro |
1 |
Rs.70.44 |
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SAR |
1 |
Rs.17.74 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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KAR |
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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.