|
Report No. : |
305829 |
|
Report Date : |
05.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
AL EMAR
INTERNATIONAL FOR AGRO CHEMICAL VETERINARY CO |
|
|
|
|
Registered Office : |
Akariya Building
No. 2, Office No. 605, Mousa Bin Naseer Road, P O Box 53845, Riyadh 11593,
62168, Riyadh 11585, Riyadh 11593 |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
05.12.2004 |
|
|
|
|
Com. Reg. No.: |
1010187604, |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Engaged in the
import and distribution of agro-chemicals, veterinary products and seeds |
|
|
|
|
No of Employees : |
145 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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) |
|
Saudi Arabia |
A2 |
A2 |
|
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. 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.
|
Source
: CIA |
Company Name : AL EMAR INTERNATIONAL FOR AGRO CHEMICAL VETERINARY
CO
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Company
Registration Date : 5th December 2004
Commercial Registration Number : 1010187604, Riyadh
Chamber Membership Number : 140499
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Total Workforce : 145 (Approximately)
Activities : Distributors of agro-chemicals, veterinary products and seeds.
Financial Condition : Undetermined
Payments : No Complaints
Person Interviewed : Osama Sidiq Mudather , Agro Products Manager
AL EMAR INTERNATIONAL FOR AGRO CHEMICAL
VETERINARY CO
Registered &
Physical Address
Building : Akariya Building No. 2, Office
No. 605
Street : Mousa Bin Naseer Road
PO Box : 53845, Riyadh 11593
62168, Riyadh 11585
Town : Riyadh 11593
Country : Saudi Arabia
Telephone : (966-11) 2610000 / 2612222 /
2612342 / 2612334 / 2612384
Facsimile : (966-11) 2612221
Mobile : (966-50) 5166042
Email : m.osama@arasco.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Riyadh.
Branch Office (s)
Subject has branch offices located in Jeddah, Dammam, Al Khobar, Madinah
and Makkah.
Name Position
·
Abdulaziz
Al Mussad President
·
Osama
Sidiq Mudather Agro
Products Manager
·
Dr Al
Zein Abdulrahman Al Zein Veterinary
Products Manager
·
Saeed
Khalil Abdulrahman Financial
Manager
·
Shabir
Choudary Purchasing
Manager
Date of Establishment : 5th
December 2004
Legal Form :
Limited Liability Company
Commercial Reg. No. : 1010187604,
Riyadh
Chamber Member No. : 140499
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Name of Shareholder
(s) Percentage
·
Arabian
Agricultural Services Co (ARASCO) 100%
PO Box: 53845
Riyadh 11593
Tel: (966-11) 4191933
Fax: (966-11) 4191520
·
Middle
East Food Solution Co (MEFSCO)
Riyadh
Activities: Engaged in the import and distribution of
agro-chemicals, veterinary products and seeds.
Import
Countries: Lebanon and the
United Kingdom
International Suppliers:
·
Agri
Nova Sal Lebanon
·
Grower United Kingdom
Subject has a
workforce of approximately 145 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
Airport Road
PO Box: 2800
Riyadh 11461
Tel: (966-11) 4772281
Fax: (966-11) 4730322
No complaints regarding
subject’s payments have been reported.
Amount overdue 0
Payment terms 30
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
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.61.68 |
|
UK Pound |
1 |
Rs.93.53 |
|
Euro |
1 |
Rs.70.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.