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Report Date : |
01.01.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Port Area, 14804 & 14238, Jeddah 21434 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
26.09.1978 |
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Com. Reg. No.: |
4030144087 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subjects operations are performed through the following divisions: · Forwarding and Clearing Division Engaged in the
provision of freight forwarding and clearing services, warehousing and
distribution, packing, crating and transit insurance. · Trading Division Engaged in the import and distribution of
animal feed and grain. · Contracting Division Engaged as general
power and telecommunication contractors. |
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No. of Employee : |
150 |
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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 : MANSOUR AL MOSAID COMPANY
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 26th September 1978
Commercial Registration Number : 4030144087, Jeddah
Chamber Membership Number : 96036
Issued Capital : SR 2,000,000
Paid up Capital : SR 2,000,000
Total Workforce : 150
Activities : Subject operates several divisions (see below for details)
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
MANSOUR AL MOSAID
COMPANY
Location : Port Area
PO Box : 14804 & 14238
Town : Jeddah 21434
Country : Saudi Arabia
Telephone : (966-12) 6511532 / 6511293 / 6523150 / 6523162 / 6759104
Facsimile : (966-12) 6491967 / 6523156
Mobile : (966-50)
5500550 / (966-59) 5862684
Email : info@mmgroup.com.sa / mm@mmgroup.com.sa
Subject operates
from a large suite of offices that are rented and located in the Port Area of
Jeddah.
Branch Office
(s)
Location Description
·
Jeddah
Tower Building, 1st Floor, Suite No. 105 Office premises
Jeddah
·
Mina Road Office
premises
Jeddah
Tel: (966-12)
6492862 / 6492863
Name Position
·
Sheikh
Mansour Al Mosaid Al Sudairy Managing Partner
·
Hafiz
Yaseen Abdul Karim Partner
·
Emad
Ibrahim Al Majali Commercial
Manager
·
Abdullatif
Hussain Bukhary Administration
Manager
·
Mahmoud
Al Baloushi Administration
Executive
·
Jawad Hussain Finance
Manager
·
Sayed Hussaini Country
Manager
Date of Establishment : 24/10/1398
Hijri (corresponding to 26th September 1978)
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030144087,
Jeddah
Chamber Member No. : 96036
Issued Capital : SR 2,000,000
Paid up Capital : SR 2,000,000
Name of Partner (s)
·
Sheikh
Mansour Al Mosaid Al Sudairy
·
Hafiz
Yaseen Abdul Karim
·
Mansour
Al Mosaid Trading & Contracting Co
Jeddah
Tel: (966-12) 6511532
Activities: Subjects operations are performed through
the following divisions:
· Forwarding
and Clearing Division
Engaged in the provision of freight
forwarding and clearing services, warehousing and distribution, packing,
crating and transit insurance.
· Trading
Division
Engaged in the import and distribution of animal feed and grain.
· Contracting
Division
Engaged as general power and
telecommunication contractors.
Import
Countries: Europe and GCC
countries.
Subject has a
workforce of 150 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
King Abdul Aziz Street
PO Box: 3555
Jeddah 21481
Tel: (966-12) 6446644
Fax: (966-12) 6446644
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 company
is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.33 |
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|
1 |
Rs.98.58 |
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Euro |
1 |
Rs.77.00 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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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.