MIRA INFORM REPORT

Report No. :	353384
Report Date :	08.12.2015

IDENTIFICATION DETAILS

Name :	EBAA HOUSE FOR CERAMIC & MARBLE TRADING COMPANY LTD

Registered Office :	East Express Highway, Al Nakheel District, 22028, Jeddah 21495

Country :	Saudi Arabia

Financials (as on) :	31.12.2014

Date of Incorporation :	Subject’s operations date back to 1984, however it was registered on 6^th March 2005

Legal Form :	Limited Liability Partnership

Line of Business :	Subject engaged in the processing and shaping of marble and ceramic stone and the distribution of sanitary ware, tiles and bathroom accessories.

No. of Employee :	320

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good

Payment Behaviour :	Regular

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

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
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

SUMMARY

Company Name : EBAA HOUSE FOR CERAMIC & MARBLE TRADING COMPANY LTD

Also Known As : EBAA HOUSE TRADING

Country of Origin : Saudi Arabia

Legal Form : Limited Liability Partnership

Start Date : 1984

Registration Date : 6^th March 2005

Commercial Registration Number : 4030160680, Jeddah

Chamber Membership Number : 109237

Issued Capital : SR 1,000,000

Paid up Capital : SR 1,000,000

Total Workforce : 320

Activities : Processing and shaping of marble and ceramic stone and the

distribution of sanitary ware, tiles and bathroom accessories.

Financial Condition : Fair

Payments : Regular

Operating Trend : Steady

Person Interviewed : Manhal Sawi, Administration Manager

COMPANY NAME

EBAA HOUSE FOR CERAMIC & MARBLE TRADING COMPANY LTD

ALSO KNOWN AS: EBAA HOUSE TRADING

ADDRESS

Registered & Physical Address

Street : East Express Highway

Area : Al Nakheel District

PO Box : 22028

Town : Jeddah 21495

Country : Saudi Arabia

Telephone : (966-12) 6047600 / 2274081 / 6293356 / 6193773 / 6293257 / 6293271 / 6737373

Facsimile : (966-12) 6047676 / 6194050 / 2274071 / 2240510 / 6293356 / 6293128 / 6701871

Email : ebaa@ebaahouse.com / fax@ebaahouse.com

Premises

Subject operates from a medium sized suite of offices that are rented and located in the Suburban Business Area of Jeddah.

Branch Office (s)

Location Description

· Palestine Street Workshop premises

Jeddah

Tel: (966-12) 6405046 / 6407602 / 6293271

Fax: (966-12) 6293128 / 6205552

· Al Kharj Road Office & warehouse

Riyadh

Tel: (966-11) 4951425 / 4951327 / 2820286

Fax: (966-11) 4951327

· Dammam Office & warehouse

· Madinah Office & warehouse

· Khamis Mushait Office & warehouse

KEY PRINCIPALS

Name Position

· Dr Essam Al Shawaf Managing Partner

· Nabil Abdul Moeen Hakimi Partner

· Hayel Abdul Moeen Hakimi Partner

· Manhal Sawi Administration Manager

· Essam Ayoub Commercial Manager

· Ahmed Nabil Salem Finance Manager

· Manhal Sawi Administration Manager

LEGAL FORM & OWNERS

Date of Establishment : Subject’s operations date back to 1984, however it was registered on 6^th March 2005

Legal Form : Limited Liability Partnership

Commercial Reg. No. : 4030160680, Jeddah

Chamber Member No. : 109237

Issued Capital : SR 1,000,000

Paid up Capital : SR 1,000,000

Name of Partner (s)

· Dr Essam Al Shawaf

· Nabil Abdul Moeen Hakimi

· Hayel Abdul Moeen Hakimi

AFFILIATED COMPANIES

· Mawafaq Thamer Al Mulhem & Partner Co

Express Highway

PO Box: 22028

Jeddah 21495

Tel: (966-12) 6293580 / 6293620

Fax: (966-12) 6292580 / 6194050

Email: factory@almulhem.com

· Al Mulhem Elegant Marble Co

Old Al Kharj Road

PO Box: 1832

Riyadh 11392

Tel: (966-11) 4380101 / 4628432

Fax: (966-11) 2820443

Email: almulhem@hotmail.com

OPERATIONS

Activities: Engaged in the processing and shaping of marble and ceramic stone and the distribution of sanitary ware, tiles and bathroom accessories.

Import Countries: Italy, Spain, Turkey, United Arab Emirates and China

International Suppliers:

· Dado Ceramica Srl Italy

· Ceramiche Caesar SpA Italy

· ARAN Cucin Italy

· Euro Rama Italy

· Coen Ceramica Italy

· Toprak Sermik Turkey

· Emigres S.L. Spain

· Inalco Ceramica Spain

· Matteo Spain

· Vlixi Spain

Brand Names: TBA, HANSA, NOBILI, BLUBLUE, GEBETI, LUBE and GEDY

Operating Trend: Steady

Subject has a workforce of approximately 320 employees.

FINANCIAL DATA

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 88,000,000 SR 90,300,000

Local sources consider subject’s financial condition to be Fair.

The above financial figures are based on estimations by our local sources.

BANKERS

· National Commercial Bank

King Abdul Aziz Street

PO Box: 3555

Jeddah 21481

Tel: (966-12) 6446644

· Arab National Bank (ANB)

Madinah Road

PO Box: 9463

Jeddah 21413

Tel: (966-12) 6600272

Fax: (966-12) 6650202

PAYMENT HISTORY

Regular

GENERAL COMMENTS

Ebaa House Co for Ceramic & Marble Ltd has activities dating back to 1984 and is engaged in the processing and shaping of marble and ceramic stones. It has made steady progress in the local market, operating branches in Jeddah and Riyadh.

The business is run in a professional manner and enjoys a good reputation for the quality of its work.

The operating history is clear with payment obligations met in a generally timely manner. As such the company is deemed a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.63
UK Pound	1	Rs.100.65
Euro	1	Rs.72.40
SAR	1	Rs.17.79

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	KAR

Report Prepared by :	TRU

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
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
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
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
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
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

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%)

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