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Report No. : |
307463 |
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Report Date : |
17.02.2015 |
IDENTIFICATION DETAILS
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Name : |
BIN FADEL TRADING
EST |
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Registered Office : |
Aswaq Al Quds, Ground
Floor, Shop No. 69, Riyadh |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
19.01.1982 |
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Com. Reg. No.: |
1010039383, Riyadh |
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Legal Form : |
Sole Proprietorship Concern |
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Line of Business : |
Engaged in the
wholesale and retail of textiles, readymade garments and perfumes [NOTE: We tried to confirm / obtain the detailed activity but the same is not available from any sources.] |
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No of Employees : |
03 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
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 |
Concern Name : BIN FADEL TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 19th January 1982
Commercial Registration Number : 1010039383, Riyadh
Invested Capital : SR 40,000
Total Workforce : 3
Activities : Wholesalers and retailers of textiles, readymade garments and
perfumes
Financial Condition : Undetermined
Payments : Unknown
BIN FADEL TRADING EST
Registered &
Physical Address
Location : Aswaq Al Quds, Ground Floor, Shop
No. 69
Town : Riyadh
Country : Saudi Arabia
Telephone : (966-11) 4580407 / 4122710
Facsimile : (966-11) 4581568
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Riyadh.
Branch Offices
Location Distribution
·
Al
Shifa District Warehouse
premises
Riyadh
Name Position
·
Aidha
Bin Saleh Bin Fadl Ba Al Obaid Proprietor
·
Abdalla
Fahed General
Manager
·
Jehan
Allah Sales
Executive
Date of Establishment : 19th
January 1982
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010039383,
Riyadh
Invested Capital
: SR 40,000
Aidha Bin Saleh Bin
Fadl Ba Al Obaid is the sole proprietor of the business.
Activities: Engaged in the wholesale and retail of
textiles, readymade garments and perfumes.
Import
Countries: India
Subject has a
workforce of 3 employees.
Companies
registered in Saudi Arabia are not legally required to make their accounts
public and no financial information was released by the concern or submitted by
outside sources.
·
Al Rajhi
Banking & Investment Corporation
PO Box: 28
Riyadh 11411
Tel: (966-11) 4054647 / 4054244
Fax: (966-11) 4044753 / 4052950
Unknown
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.62.20 |
|
UK Pound |
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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|
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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 |
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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.