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Report No. : |
351431 |
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Report Date : |
02.12.2015 |
IDENTIFICATION DETAILS
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Name : |
MOHAMED BINLADIN CO |
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Registered Office : |
Binladin Compound, Madinah Road, Km 40, PO Box 958, Jeddah 21421 |
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Country : |
Saudi
Arabia |
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Date of Incorporation : |
04.08.1990 |
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Com. Reg. No.: |
4031021734 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged as general construction contractors, specializing in the
construction and maintenance of roads, bridges and tunnels. |
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No. of Employees : |
400 |
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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Maximum Credit Limit : |
US$ 950,000 |
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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 |
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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 $100 per
barrel to balance its budget. Although the Kingdom can finance high deficits
for several years by drawing down its considerable foreign assets or borrowing,
it probably will begin to reduce capital spending if oil prices stay low
through the next year.
|
Source
: CIA |
Company Name :
MOHAMED BINLADIN CO
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Partnership
Registration Date :
4th August 1990
Commercial Registration Number :
4031021734, Jeddah
Chamber Membership Number :
126
Issued Capital :
SR 20,000,000
Paid up Capital :
SR 20,000,000
Total Workforce :
400
Activities :
General construction contractors
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Recommended Credit Limit :
US$ 950,000
MOHAMED BINLADIN CO
Registered &
Physical Address
Building : Binladin
Compound
Street : Madinah
Road, Km 40
PO Box : 958
Town : Jeddah 21421
Country : Saudi Arabia
Telephone : (966-12)
6879222 / 6993060 / 6993070 / 6200163 / 6995717
Facsimile : (966-12)
6890804 / 6993070
Email : mblco@awalnet.net.sa
Premises
Subject operates from a large suite of offices, a warehouse and workshop
that are owned and located in the Suburban Business Area of Jeddah.
Name Position
Yasser Mohamed Binladin Managing
Partner
Abdullah Mohamed Binladin Partner
Omar Mohamed Binladin Partner
Saeed Al Amoudi Technical
Manager
Shazad Khan Finance
Manager
Date of Establishment : 13/01/1411 Hijri
(corresponding to 4th August 1990)
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 4031021734,
Jeddah
Chamber Member No. : 126
Issued Capital : SR 20,000,000
Paid up Capital : SR 20,000,000
Name of Partner
(s)
Yasser Mohamed Binladin
Abdullah Mohamed Binladin
Omar Mohamed Binladin
Subject is a member of the well known Binladin Group of Companies whose
operations date back to 1931 when Mohamed Binladin founded the company. From
its humble beginnings as a general contractor the group has grown and
prospered. Over the years the company has been entrusted with many major
construction projects that have helped Saudi Arabia to develop its resources
and expand its infrastructure.
Under the leadership of the late Mohamed Binladin, the company
diversified into other areas and became an international conglomerate with
interests ranging from its traditional construction business through to
industrial and power projects, petroleum, chemicals and mining,
telecommunications, operations and maintenance, manufacturing and trading to
satellite communications.
The Binladin Group of Companies includes the following concerns:
Construction
Huta-Hegerfeld Saudi Ltd
National Company for Foundations
Project Management & Development Co
Binladin Contracting & Trading Co
Arabian Bemco Contracting Co Ltd
Manufacturing
Adhesive Manufacturing Company Limited
Art Company for Crystal Industry
Artificial Stone Factory
Al Salem Air Conditioning Co
Al Salem Light Industries
Jeddah Electrical Distribution Assemblies Ltd
Metal Artwork Saudi Co
Modern Factory for Casting Sanitary Fittings (MOFAC)
Mimar Industrial Group
A Metal
Casareen Contract Manufacturing
Palwa Beleuchtungs GmbH
Palwa Iberica SA
Precast Manufacturing Co
Saudi Company for Development
The Gypsum & Glass Reinforced Concrete
The Woodwork Factory
Drapery & Upholstery Factory
Marble & Granite International Company
United Spare Parts Co
Binladin Losinger Ltd
Binladin Saudi Marble Co Ltd
Binladin G.N.B. Ltd
Media
Dunia Multi Media
Hazar Media Group
Dar Al Reisha for Publishing & Distribution Co
Editions Hazar
Focus Press
Hazar Advertising & Hazar Graphics
Hazar Graphics
Hazar Licensing
Hazar Productions
Hazar Publishing Dar El Reisha
Morooj Advertising
Reisha Information Systems
Young Future Publishing
Operation &
Maintenance
United Saudi Maintenance & Services Co
Saudi Services Co Ltd
Retail
Casareen Retail International (Caj Shop)
The Studio
Services
Al Salem York Services Co
Arabian Elevator and Escalator Co (Areeco)
Forship Limited
Canareen Inc
United Transport Company
Lotus Residential Compounds
Salhia Lotus Beach Resort
Telecommunications
Binladin Telecommunication Company
Trading
Al Salem Agencies & Services Co
Al Salem for Industrial Kitchens
Building Products Company
General Food & Consumer Goods Sal (GFC)
International Food & Consumable Goods Co Ltd
Arrow Food Distribution
GFC Limited
International Co for Importing Food & Consumable Goods
United Foodstuffs & Catering Co Sal
United Foodstuffs & Consumer Products Co
Golden Fields Limited
Mimar Trading Group
Arabian Rootes Ltd for Trading
Mimar General Trading Ltd Sd
Mimar Trading
Mimar Sri
Kuala Lumpur
Sidra Trading
Unimar Trading
Binladin Brothers
Binladin Industrial Co Ltd
Petroleum,
Chemical and Mining
National Heavy Industries (Abraj)
Others
Al Mihdar Binladin Development Co Ltd
Al Fadl Binladin & J&P Ltd
Saudi Aircraft Services Ltd
Saudi Traffic Safety Co Ltd
BSW Electric Power Contracting Co Ltd
Binladin for Contracting and Trading Co
Saudi Ceramic Co
United Medical Group
Activities: Engaged as general construction contractors, specializing in the
construction and maintenance of roads, bridges and tunnels.
Import Countries: United States of America, Germany and Japan
Subject has a workforce of approximately 400 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.
National Commercial Bank
Industrial City Branch
PO Box: 18656
Jeddah 21425
Tel: (966-12) 6368224
Al Bank Al Saudi Al Hollandi
King Abdulaziz Street
PO Box: 67
Jeddah
Tel: (966-12) 6446849
Riyad Bank
Prince Fahad Street
PO Box: 9324
Jeddah 21413
Tel: (966-12) 6513333
No complaints regarding subject’s payments have been reported.
Recommended credit limit: US$
950,000
Please note that we were unable to contact the subject directly during
our investigation.
Established in 1990, Mohamed Binladin Co specialises in the construction
and maintenance of roads, bridges and tunnels.
The company is run in a professional manner and is a member of the
Binladin Group of Companies, which is a leading regional conglomerate.
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.66.52 |
|
|
1 |
Rs.100.44 |
|
Euro |
1 |
Rs.70.44 |
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SAR |
1 |
Rs.17.75 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
TRI |
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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.