|
Report No. : |
307545 |
|
Report Date : |
14.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
ESAM HAZA THABIT
TRADING EST |
|
|
|
|
Registered Office : |
Al Bitterji Building, 3rd Floor, Room No. 14 Wadi Al Amareya, Al Balad 104805 Jeddah 21331 |
|
|
|
|
Country : |
Saudi Arabia |
|
|
|
|
Date of Incorporation : |
08.01.2008 |
|
|
|
|
Legal Form : |
Sole
Proprietorship |
|
|
|
|
Line of Business : |
Engaged in the import,
distribution, wholesale and retail of rice, sugar, general foodstuff
products, garments, auto spare parts and related accessories. |
|
|
|
|
No. of Employee : |
85 |
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 : ESAM HAZA
THABIT TRADING EST
Country of Origin : Saudi
Arabia
Legal Form :
Sole Proprietorship
Registration Date : 8th
January 2008
Commercial Registration
Number : 4030175091, Jeddah
Invested Capital : SR 200,000
Total Workforce : 85
Activities :
Import, distribution, wholesale and retail of rice, sugar, general foodstuff
products, garments, auto spare parts and
related accessories
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
ESAM HAZA THABIT TRADING EST
Building : Al Bitterji Building, 3rd Floor,
Room No. 14
Area : Wadi Al Amareya, Al Balad
PO Box : 104805
Town : Jeddah 21331
Country : Saudi Arabia
Telephone : (966-12) 63252720 / 6453101
Facsimile : (966-12) 6453101
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Jeddah.
Branch Office
(s)
Location Description
·
Al
Balad Al Maleka, 1st Floor, Showroom No. 86 Rented showroom premises
Jeddah
·
Al
Balad Awqaf Al Basha Rented
showroom premises
Jeddah 21463
·
King
Abdel Aziz Awqaf Al Basha, Tower D Rented
showroom premises
Al Balad District
Jeddah
·
King
Abdel Aziz Al Maleka, 1st Floor, Showroom No. 53/54 Rented showroom premises
Jeddah
·
Seclya
Center Rented
showroom premises
Al Balad District
·
King Abdel
Aziz Rented
showroom premises
Al Balad District
Jeddah
·
General
Street Rented
showroom premises
El Hameed
El Hegaz Village
Name Position
·
Esam
Haza Abdel Wahab Thabit Proprietor
& General Manager
·
Amar Selim Finance
Manager
·
Abu
Nabil Khan Purchasing
Manager
Date of Establishment : 8th
January 2008
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030175091,
Jeddah
Invested Capital
: SR 200,000
Mr Esam Haza Abdel
Wahab Thabit is the sole proprietor of the business.
Activities: Engaged in the import, distribution,
wholesale and retail of rice, sugar, general foodstuff products,
garments, auto spare parts
and related accessories.
Import
Countries: China, Spain and
Italy
Operating Trend: Steady
Subject has a
workforce of 85 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 Sales SR 28,300,000 SR 32,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Al
Rajhi Banking & Investment Corporation
Palestine Street
PO Box: 4514
Jeddah
Tel: (966-12) 6724554
Fax: (966-12) 6723805
·
Riyad
Bank
Prince Fahad Street
PO Box: 9324
Jeddah 21413
Tel: (966-12) 6513333
·
Al Bank
Al Saudi Al Fransi
Al Sharafiya Branch
Madinah Road
PO Box: 7888
Jeddah 21472
Tel: (966-12) 6605863
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.62.14 |
|
|
1 |
Rs.95.78 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
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.