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Report No. : |
307788 |
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Report Date : |
12.02.2015 |
IDENTIFICATION DETAILS
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Name : |
SAUDI READYMIX
CONCRETE CO LTD |
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Registered Office : |
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Country : |
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Year of Establishment : |
1978 |
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Com. Reg. No.: |
2051024902, Al
Khobar |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturers of
Ready Mix Concrete and Related Products. |
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No. of Employees : |
3,000 |
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) |
|
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.
|
Source
: CIA |
Company Name : SAUDI READYMIX CONCRETE CO LTD
Country of Origin : Saudi
Arabia
Legal Form :
Limited Liability Company
Start Date :
1978
Registration Date : 16th
August 2006
Commercial
Registration Number :
2051024902, Al Khobar
Issued Capital : SR
25,000,000
Paid up Capital : SR
25,000,000
Total Workforce : 3,000
Activities :
Manufacturers of ready mix concrete and related products.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
SAUDI READYMIX
CONCRETE CO LTD
Street : Prince Faysal Bin Fahd Street
Area : Al Bandaria Area
PO Box : 31839
Town : Al Khobar 31952
Country : Saudi Arabia
Telephone : (966-13) 8822373
Facsimile : (966-13) 8822037
Email : head.office@saudireadymix.com.sa
/ info@saudireadymix.com
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of Al Khobar.
Name Position
·
Rami
Khalid Abdulrahman Al Turki Managing
Director
·
Rasha
Khalid Abdulrahman Al Turki Director
·
Hatem
Al Jabr General
Manager
·
Wali
Delara Finance
Manager
·
Zaki Al
Touroti Accountant
·
Hussain
Talal Administration
Manager
Date of Establishment : 1978, however
subject was registered on 22/07/1427 Hijri (corresponding to 16th
August
2006)
Legal Form :
Limited Liability Company
Commercial Reg. No. : 2051024902,
Al Khobar
Issued Capital : SR 25,000,000
Paid up Capital : SR 25,000,000
·
Khalid
Ali Abdulrahman Al Turki & Sons
Al Khobar
Activities: Engaged in the manufacture of ready mix
concrete and related products. Subject operates over 550 truck mixers and 170
mobile and stationary pumps.
Subject has a
workforce of approximately 3,000 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
PO Box: 1
Al Khobar 31952
Tel: (966-13) 8949669
Fax: (966-13) 8646474
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
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.15 |
|
|
1 |
Rs.94.72 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
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Analysis Done by
: |
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.