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Report No. : |
302065 |
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Report Date : |
08.01.2015 |
IDENTIFICATION DETAILS
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Name : |
EBAA HOUSE FOR
CERAMIC & MARBLE TRADING COMPANY LTD |
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|
|
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Registered Office : |
East Express Highway, Al Nakheel District, P O Box 22028, Jeddah 21495 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Year of Establishment : |
1984 |
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Com. Reg. No.: |
4030160680,
Jeddah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Processing and
shaping of marble and ceramic stone and the distribution of sanitary ware,
tiles and bathroom accessories. |
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No. of Employees : |
320 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
Company Name : EBAA HOUSE
FOR CERAMIC & MARBLE TRADING COMPANY LTD
Also Known As :
EBAA HOUSE TRADING
Country of Origin : Saudi
Arabia
Legal Form :
Limited Liability Partnership
Start Date :
1984
Registration Date : 6th
March 2005
Commercial
Registration Number : 4030160680, Jeddah
Chamber Membership
Number : 109237
Issued Capital : SR
1,000,000
Paid up Capital :
SR 1,000,000
Total Workforce : 320
Activities :
Processing and shaping of marble and ceramic stone and the distribution of
sanitary ware, tiles and bathroom accessories.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Manhal Sawi,
Administration Manager
EBAA HOUSE FOR
CERAMIC & MARBLE TRADING COMPANY LTD
EBAA HOUSE TRADING
Street : East Express Highway
Area : Al Nakheel
District
PO Box : 22028
Town : Jeddah 21495
Country : Saudi Arabia
Telephone : (966-12) 6047600 / 2274081 / 6293356
/ 6193773 / 6293257 / 6293271 / 6737373
Facsimile : (966-12) 6194050 / 2274071 / 2240510
/ 6293356 / 6293128 / 6701871
Email : ebaa@ebaahouse.com / fax@ebaahouse.com
Subject operates
from a medium sized suite of offices that are rented and located in the Suburban
Business Area of Jeddah.
Branch Office
(s)
Location Description
·
Palestine
Street Workshop
premises
Jeddah
Tel: (966-12) 6405046 /
6407602 / 6293271
Fax: (966-12) 6293128 /
6205552
·
Al
Kharj Road Office
& warehouse
Riyadh
Tel: (966-11) 4951425 /
4951327 / 2820286
Fax: (966-11) 4951327
·
Dammam Office
& warehouse
·
Madinah Office
& warehouse
·
Khamis
Mushait Office
& warehouse
Name Position
·
Dr
Essam Al Shawaf Managing
Partner
·
Nabil Abdul Moeen Hakimi Partner
·
Hayel Abdul Moeen Hakimi Partner
·
Manhal Sawi Administration
Manager
·
Essam
Ayoub Commercial
Manager
·
Ahmed
Nabil Salem Finance
Manager
·
Manhal
Sawi Administration
Manager
Date of Establishment : Subject’s
operations date back to 1984, however it was registered on 6th March
2005
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 4030160680, Jeddah
Chamber Member No. : 109237
Issued Capital : SR 1,000,000
Paid up Capital : SR 1,000,000
·
Dr
Essam Al Shawaf
·
Nabil Abdul Moeen Hakimi
·
Hayel Abdul Moeen Hakimi
·
Mawafaq Thamer Al Mulhem & Partner Co
Express Highway
PO
Box: 22028
Jeddah
21495
Tel:
(966-12) 6293580 / 6293620
Fax:
(966-12) 6292580 / 6194050
Email: factory@almulhem.com
·
Al
Mulhem Elegant Marble Co
Old Al Kharj Road
PO Box: 1832
Riyadh 11392
Tel: (966-11) 4380101 / 4628432
Fax: (966-11) 2820443
Email: almulhem@hotmail.com
Activities: Engaged in the processing and shaping of
marble and ceramic stone and the distribution of sanitary ware, tiles and
bathroom accessories.
Import Countries: Italy, Spain, Turkey, United Arab Emirates
and China
International
Suppliers:
·
Dado
Ceramica Srl Italy
·
Ceramiche Caesar SpA Italy
· ARAN Cucin Italy
·
Euro
Rama Italy
·
Coen
Ceramica Italy
·
Toprak
Sermik Turkey
·
Emigres S.L. Spain
·
Inalco Ceramica Spain
·
Matteo Spain
·
Vlixi Spain
Brand Names: TBA, HANSA, NOBILI, BLUBLUE, GEBETI, LUBE
and GEDY
Operating Trend: Steady
Subject has a
workforce of approximately 320 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 86,700,000 SR 88,000,000
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: (966-12) 6446644
·
Arab
National Bank (ANB)
Madinah Road
PO Box: 9463
Jeddah 21413
Tel: (966-12) 6600272
Fax: (966-12) 6650202
No complaints
regarding subject’s payments have been reported.
Credit amount 369,355 353,570
Amount overdue 0 0
Payment terms 60
days 60
days
Payment Method Letters
of Credit Letters of Credit
Paying record No
Complaints No
Complaints
Currency Canadian
Dollars Canadian
Dollars
Ebaa House Co for
Ceramic & Marble Ltd has activities dating back to 1984 and is engaged in
the processing and shaping of marble and ceramic stones. It has made steady
progress in the local market, operating branches in Jeddah and Riyadh.
The business is run
in a professional manner and enjoys a good reputation for the quality of its
work.
The operating
history is clear with payment obligations met in a generally timely manner. As
such the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.45 |
|
|
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.75.28 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
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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 |
|
|
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 |
|
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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 |
|
|
<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.