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Report No. : |
304886 |
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Report Date : |
03.02.2015 |
IDENTIFICATION DETAILS
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Name : |
ARABIAN TEA HOUSE |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
05.10.2004 |
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Com. Reg. No.: |
4030151751 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importers, Distributors and Packers of Tea, Coffee, Related Materials, Equipment and Accessories. |
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No. of Employees : |
100 |
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
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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 : ARABIAN TEA HOUSE
Country of Origin :
Legal Form :
Sole Proprietorship
Registration Date : 5th
October 2004
Commercial Registration
Number : 4030151751
Invested Capital : SR
500,000
Total Workforce : 100
Activities : Importers, distributors and packers of tea, coffee, related materials,
equipment and accessories
Financial Condition : Fair
Payments : Nothing
detrimental uncovered
Operating Trend : Steady
ARABIAN TEA HOUSE
Street : Iskan Street
Area : Hay Al Waziriya
PO Box : 16908
Town : Jeddah 21482
Country : Saudi Arabia
Telephone : (966-12) 2300262 / 6361820
Facsimile : (966-12) 2300272
Email : info@daralshai.net
Subject operates
from a medium sized suite of offices, a warehouse and showroom that are rented and
located in the Central Business Area of Jeddah.
Branch Office
(s)
Location Description
·
El
Damam Rented
showroom premises
·
Skaka Rented
showroom premises
·
Jeddah Rented
showroom premises
·
El
Dwadmy Rented
showroom premises
Name Position
·
Fouad
Mohamed Abdullah Muhter Proprietor
& General Manager
·
Abo
Nwaf Administration
Manager
Date of Establishment : 5th
October 2004
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030151751
Invested Capital
: SR 500,000
Mr Fouad Mohamed
Abdullah Muhter is the sole proprietor of the business.
Activities: Engaged as importers, distributors and packers of tea, coffee, related materials, equipment and
accessories.
Import
Countries: Europe, Middle
East, and Far East
Brand Names: KBOUS TEA, AKWADOR, SEVEN STAR,
& MZARAA
Operating Trend: Steady
Subject has a
workforce of approximately 100 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 24,200,000 SR 26,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Riyad
Bank
Prince Fahad Street
PO Box: 9324
Jeddah 21413
Tel: (966-2) 6513333
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.88 |
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|
1 |
Rs.93.27 |
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Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
NIT |
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.