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Report No. : |
305754 |
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Report Date : |
04.02.2015 |
IDENTIFICATION DETAILS
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Name : |
ABDULILAH MOHAMED
AL SHAREEDAH FOR TRADING & CONTRACTING EST |
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Registered Office : |
Al Rakhi Building,
King Khalid Road, Rabua, P O Box 3782, Buraidah 51481 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2014 (Estimated) |
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Date of Incorporation : |
02.03.2008 |
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Com. Reg. No.: |
1131025635, Buraidah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject’s
operations are performed through the following divisions: ·
Contracting Division Engaged as general building,
maintenance and cleaning contractors. ·
Foodstuff Division Engaged in the import and distribution of general foodstuffs. |
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No of Employees : |
45 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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. Riyadh has substantially boosted spending on
job training and education, most recently with the opening of the King Abdallah
University of Science and Technology - Saudi Arabia's first co-educational
university. As part of its effort to attract foreign investment, Saudi Arabia
acceded to the WTO in 2005. The government has begun establishing six
"economic cities" in different regions of the country to promote
foreign investment and plans to spend $373 billion between 2010 and 2014 on
social development and infrastructure projects to advance Saudi Arabia's economic
development.
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Source
: CIA |
Company Name : ABDULILAH MOHAMED AL SHAREEDAH FOR TRADING &
CONTRACTING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 2nd March 2008
Commercial Registration Number : 1131025635, Buraidah
Invested Capital : SR 200,000
Total Workforce : 45
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : No Complaints
Person Interviewed : Mohamed Sobhi Ali, Accountant
ABDULILAH MOHAMED AL SHAREEDAH FOR TRADING
& CONTRACTING EST
Registered &
Physical Address
Building : Al Rakhi Building
Street : King Khalid
Road
Area : Rabua
PO Box : 3782
Town : Buraidah 51481
Country : Saudi Arabia
Telephone : (966-16) 3247373
Facsimile : (966-16) 3247400
Mobile : (966-11) 2133312
Email : shereedahco3@gmail.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Buraidah.
Name Position
·
Abdulilah
Mohamed Al Shareedah Proprietor
& General Manager
·
Fadel
Abdul Salam Assistant
General Manager
·
Mohamed
Sobhi Ali Accountant
Date of Establishment : 24/02/1429
Hijri (corresponding to 2nd March 2008)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1131025635,
Buraidah
Invested Capital
: SR 200,000
Mr Abdulilah Mohamed
Al Shareedah is the sole proprietor of the business.
Activities: Subject’s operations are performed through
the following divisions:
·
Contracting Division
Engaged as general building,
maintenance and cleaning contractors.
·
Foodstuff Division
Engaged in the import and distribution of general foodstuffs.
Import
Countries:
Operating Trend: Steady
Subject has a
workforce of 45 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 Revenue SR 17,200,000 SR 17,890,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Riyad
Bank
King Saud Road
Buraidah
No complaints
regarding subject’s payments have been reported.
Please note that
the correct name of the subject is “Abdulilah Mohamed Al Shareedah For Trading
& Contracting Est” and not “Abdulila Mohammed Abdulla Al Shareedah Trading
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.74 |
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UK Pound |
1 |
Rs.92.71 |
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Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
MNL |
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.