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Report No. : |
307599 |
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Report Date : |
18.02.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Salah El Din El Farsy, Al Maazar District, 1353 |
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Country : |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
01.09.2009 |
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Com. Reg. No.: |
1010279241, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import and distribution of carton boxes, plates and cake bases and cases, pizza and chip boxes and paper for butter. |
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No of Employees : |
10 |
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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 : AL TAJ SILVER PAPER PRODUCTS AND TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 1st September 2009
Commercial Registration Number : 1010279241, Riyadh
Invested Capital : SR 500,000
Total Workforce : 10
Activities : Distributors of carton boxes, plates and cake bases and cases, pizza
and chip boxes and paper for butter
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
AL TAJ SILVER PAPER
PRODUCTS AND TRADING EST
Location : Salah El Din El Farsy, Al Maazar
District
PO Box : 1353
Town : Riyadh 11471
Country :
Telephone : (966-11) 4831195
Facsimile : (966-11) 4417212 / 6532761
Mobile : (966-59) 9952677 / 9441095
Email : info@altajsilver.com
Subject operates
from a small suite of offices that are rented and located in the Suburban
Business Area of Riyadh.
Branch Office
(s)
Location Description
·
General
Street Office
premises
Om El Hammam District
Riyadh 11415
·
Jeddah Office
premises
Name Position
·
Raghad
Asnan El Saad Proprietor
& General Manager
·
Ashraf
Abu Baker Mohamed Finance
Manager
·
Ahmed
Adly Purchase
Manager
·
Mahmoud
Selim Branch
Manager
Date of Establishment : 1st
September 2009
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010279241,
Riyadh
Invested Capital
: SR 500,000
Mr Raghad Asnan El Saad
is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
carton boxes, plates and cake bases and cases, pizza and chip boxes and paper
for butter.
Import
Countries: China, Taiwan,
Lebanon and the United Arab Emirates
Local Suppliers:
·
Dar El
Sharq
Local Clients:
·
Al Musbah Group
Operating Trend: Steady
Subject has a
workforce of 10 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 7,910,000 SR 8,200,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local 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.
Local sources report
that the subject’s operating history is clear with payment obligations met in a
generally timely manner. The financial position is satisfactory and the
business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs. 62.20 |
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1 |
Rs. 95.99 |
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Euro |
1 |
Rs. 71.00 |
INFORMATION DETAILS
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Analysis Done by
: |
KRN |
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Report Prepared
by : |
DPT |
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 |
-- |
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.