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Report Date : |
02.01.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Petromin Street, Dawar Al Nojoom 52389, Jeddah 21563 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
06.06.1995 |
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Com. Reg. No.: |
4030112249 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the wholesale and retail of general foodstuff products, including cardamom, coffee, rice, tea, spices, pulses and sugar. |
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No. of Employee : |
8 |
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 : HASSAN ALI AL TOURI TRADING EST
Also Known As : AL FARSI AL ARABI
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 6th June 1995
Commercial Registration Number : 4030112249, Jeddah
Chamber Membership Number : 54534
Invested Capital : SR 100,000
Total Workforce : 8
Activities : Wholesalers and retailers of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME: HASSAN ALI AL TOURI TRADING EST
ALSO
KNOWN AS: AL
FARSI AL ARABI
Street : Petromin Street
Area : Dawar Al Nojoom
PO Box : 52389
Town : Jeddah 21563
Country : Saudi Arabia
Telephone : (966-2) 6380808 / 2685050
Facsimile : (966-2) 2685050
Email : altouri@zajil.net / mahmoudnasr.eldin@yahoo.com
Subject operates
from a small of offices and a showroom that are rented and located in the
Central Business Area of Jeddah.
Branch Office
(s)
Location Description
·
22
Mousali Building Rented
showroom premises
Bab Mecca
Jeddah
Tel: (966-2) 6439576 / 6439176
Fax: (966-2) 6421654
·
Madinah Rented showroom premises
Name Position
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Hassan
Ali Al Touri Proprietor
& General Manager
·
Fahd
Ali Al Touri Assistant
General Manager
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Mahmoud Nasr Eddine Sales
Manager
·
Hamed
Ali Sales
Executive
Date of Establishment : 08/01/1416
Hijri (corresponding to 6th June 1995)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030112249,
Jeddah
Chamber Member No. : 54534
Invested Capital
: SR 100,000
Mr Hassan Ali Al Touri is the sole proprietor of the business.
Activities: Engaged in the wholesale and retail of general
foodstuff products, including cardamom, coffee, rice, tea, spices, pulses and
sugar.
Import
Countries: Guatemala,
China, Ethiopia, Vietnam, Indonesia, India, Sri Lanka, Thailand, Syria, Sudan
and the United Arab Emirates.
International Suppliers:
·
Maskan Overseas India
·
Shree Ram International India
·
BTL India
·
Asia Food Industries India
Brand Names: AL FARS AL ARABI
Operating Trend: Steady
Subject has a
workforce of 8 employees.
Financial highlights
provided by local sources are given below:
Currency: Saudi
Riyals (SR)
Year
Ending 31/12/12: Year Ending
31/12/13:
Total Sales SR 13,800,000 SR 14,325,000
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
King Abdul Aziz Street
PO Box: 3555
Jeddah 21481
Tel: (966-2) 6446644
Fax: (966-2) 6446644
Acc No. 62211729000109
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.32 |
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1 |
Rs.98.63 |
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Euro |
1 |
Rs.76.59 |
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.