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Report No. : |
302066 |
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Report Date : |
08.01.2015 |
IDENTIFICATION DETAILS
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Name : |
AL EMARA
SPECIALIZED CO TBM |
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Formerly Known as : |
EMARAT JEDDAH EST |
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Registered Office : |
East Express
Road, P O Box 52869, Jeddah 21573 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
22.07.2000 |
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Com. Reg. No.: |
4030130505, Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the import and distribution of Building Materials, Ceramic and Tiles [We tried to confirm / obtain the detailed activity but the same is not available from any sources.] |
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No of Employees : |
45 |
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 : AL EMARA SPECIALIZED CO TBM
Previously Known As : EMARAT JEDDAH EST
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Partnership
Registration Date : 22nd July 2000
Commercial Registration Number : 4030130505, Jeddah
Chamber Membership Number : 75479
Issued Capital : SR 150,000
Paid up Capital : SR 150,000
Total Workforce : 45
Activities : Distributors of building materials, ceramic and tiles.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Musaab Al Bittar, Commercial Manager
AL EMARA SPECIALIZED CO TBM
EMARAT JEDDAH EST
Registered &
Physical Address
Location : East Express Road
PO Box : 52869
Town : Jeddah 21573
Country : Saudi Arabia
Telephone : (966-12) 6293514 / 6298888
Facsimile : (966-12) 6293645
Email : emart08@gmail.com
Note:
Please note that the
correct PO Box number is 52869 and not 52669.
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Jeddah.
Branch Offices
Location Description
·
Al
Kharj Road Office
premises
Riyadh
Tel: (966-11) 4950877
Name Position
·
Abdulrahman
Bin Abdulaziz Bin Abdullah Bawareth Managing
Partner
·
Fasial
Abdullah Al Jaber Partner
·
Abdullah
Al Mualem Financial
Manager
·
Musaab
Al Bittar Commercial
Manager
Date of Establishment : 22nd
July 2000
History : Subject began in 2000 under the name
“Emarat Jeddah Est” and Commercial Registration No. 4030130871. However it re-registered
under the new name of “Al Emara Specialized Co TBM” in 2009.
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030130505,
Jeddah
Chamber Member No. : 75479
Issued Capital : SR 150,000
Paid up Capital : SR 150,000
Name of Partner (s)
·
Abdulrahman
Bin Abdulaziz Bin Abdullah Bawareth
·
Fasial
Abdullah Al Jaber
Activities: Engaged in the import and distribution of
building materials, ceramic and tiles.
Import
Countries: Spain and China
International Suppliers:
·
Argenta Spain
·
Secogres Spain
· Foshan Ceramic China
Operating Trend: Steady
Subject has a
workforce of 45 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 Revenue SR 13,420,000 SR 14,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Musaab Al Bittar, Commercial Manager
·
Arab
National Bank
Madinah Road
PO Box: 9463
Jeddah 21413
Tel: (966-12) 6600272
Fax: (966-12) 6650202
·
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.
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
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.45 |
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UK Pound |
1 |
Rs.95.99 |
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Euro |
1 |
Rs.75.28 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
MNL |
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 |
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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.