|
Report No. : |
301944 |
|
Report Date : |
08.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
MOHAMED A AL
MUDEHISH TRADING ESTABLISHMENT |
|
|
|
|
Registered Office : |
King Fahd Road,
Al Quds Market, P O Box: 30498, Riyadh 11477 |
|
|
|
|
Country : |
Saudi Arabia |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Year of Establishment : |
1992 |
|
|
|
|
Com. Reg. No.: |
1010045703,
Riyadh |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Wholesalers and Retailers
of Readymade Garments and Textiles |
|
|
|
|
No. of Employees : |
3 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 : MOHAMED A
AL MUDEHISH TRADING ESTABLISHMENT
Country of Origin : Saudi
Arabia
Legal Form :
Sole Proprietorship
Registration Date : 1992
Commercial
Registration Number :
1010045703, Riyadh
Invested Capital : SR 30,000
Total Workforce : 3
Activities :
Wholesalers and retailers of readymade garments and textiles
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
MOHAMED A AL
MUDEHISH TRADING ESTABLISHMENT
Street : King Fahd Road
Area : Al Quds Market
PO Box : 30498
Town : Riyadh 11477
Country : Saudi Arabia
Telephone : (966-11) 4111200 / 4510448
Mobile : (966-50) 2828617
Subject operates
from a small suite of offices that are rented and located in the Suburban
Business Area of Riyadh.
Name Position
·
Mohamed
Abdullah Al Mudehish Proprietor
& General Manager
Date of Establishment : 1992
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010045703,
Riyadh
Invested Capital
: SR 30,000
Mr Mohamed Abdullah
Al Mudehish is the sole proprietor of the business.
·
Romance
Trading Est
PO Box: 30498
Riyadh 11477
Tel: (966-11) 4575072
Fax: (966-11) 4575072
Activities: Engaged in the wholesale and retail of
readymade garments and textiles.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 3 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 7,100,000 SR 7,250,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Saudi
American Bank
PO Box: 833
Riyadh 11471
Tel: (966-11) 4774770
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.45 |
|
|
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.75.28 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
|
|
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 |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
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.