|
Report No. : |
302063 |
|
Report Date : |
08.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
TRACO INTERNATIONAL FOR MARBLE & CERAMIC CO LTD |
|
|
|
|
Registered Office : |
High |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
27.12.2011 |
|
|
|
|
Com. Reg. No.: |
4030177927, Jeddah |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Subject is engaged in the import and distribution of marble and
ceramics |
|
|
|
|
No. of Employees : |
200 |
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 : TRACO INTERNATIONAL FOR MARBLE & CERAMIC CO LTD
Country of Origin : Saudi Arabia
Legal Form : Joint Stock Company
Registration Date : 27th December 2011
Commercial Registration Number : 4030177927, Jeddah
Chamber Membership Number : 154637
Issued Capital : SR 20,000,000
Paid up Capital : SR 20,000,000
Total Workforce : 200
Activities : Distributors of marble and ceramics.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Samir Al Hamadi, Human Resources Manager
TRACO INTERNATIONAL FOR MARBLE & CERAMIC CO LTD
Location : High Express
Way
PO Box : 33472
Town : Jeddah 21448
Country : Saudi Arabia
Telephone : (966-12)
6293555 (Ext Nos. 111/340/313/122)
Facsimile : (966-12)
6293280
Email : traco-mac@hotmail.com / info@tracomac.com
Subject operates from a large suite of offices and a warehouse that are
rented and located in the Industrial Area of Jeddah.
Name Position
· Abdulrahman
Abdulaziz Bawareth Managing
Director
· Ghais Ibn Suhail
Al Nizami Director
· Mukthar Abdul
Majeed Abbar Director
· Huda Al Hafez Director
· Olaa Mukhtar Abbar Director
· Abeer Mukhtar Abbar Director
· Hussain Basundaw General Manager
· Bilal Tawakal Purchase
Manager
· Muneer Attasi Sales
Manager
· Samir Al Hamadi Human
Resources Manager
Date of
Establishment : 01/02/1433 Hijri
(corresponding to 27th December 2011)
Legal Form : Joint Stock
Company
Commercial Reg.
No. : 4030177927, Jeddah
Chamber Member No. : 154637
Issued Capital : SR 20,000,000
Paid up Capital : SR 20,000,000
· Abdulrahman
Abdulaziz Bawareth
· Ghais Ibn Suhail
Al Nizami
· Mukthar Abdul
Majeed Abbar
· Huda Al Hafez
· Olaa Mukhtar Abbar
· Abeer Mukhtar Abbar
· Traco Group
General Trading & Contracting Limited
· Saudi Maritime Holding Company Ltd
· Arabian International Maritime Company
· Bakhsh Kellog Saudi Arabia Ltd
· AIMCO Company Ltd
· Medscan Terminal Company
· National Pipe Company Ltd
Activities: Engaged in the import and distribution of marble and ceramics.
Import Countries: Europe, Brazil and India.
Operating Trend: Steady
Subject has a workforce of approximately 200 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
112,700,000 SR 116,500,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Samir Al Hamadi, Human Resources
Manager
·
National Commercial Bank
Al Balad Branch
King Abdulaziz
Street
PO Box: 5066
Jeddah 21422
Tel: (966-12)
6434777
Fax: (966-12)
6441686
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
|
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 : |
NIS |
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.