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Report No. : |
302067 |
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Report Date : |
13.01.2015 |
IDENTIFICATION DETAILS
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Name : |
RASLAN TRADING EST |
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Registered Office : |
Palestine Street, Mushrifah District, PO Box 30971 & 15076, Jeddah
21444 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
08.09.1989 |
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Com. Reg. No.: |
4030066872 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the wholesale and retail of ceramics,
marble, granite and other building materials. |
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No. of Employee : |
20 |
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
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Saudi Arabia |
A2 |
A2 |
|
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.
|
Source
: CIA |
Company Name :
RASLAN TRADING EST
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
8th September 1989
Commercial Registration Number :
4030066872, Jeddah
Chamber Membership Number :
31809
Invested Capital :
SR 60,000
Total Workforce :
20
Activities :
Wholesale and retail of ceramics, marble,
granite and other building
materials.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
RASLAN TRADING EST
Registered &
Physical Address
Street : Palestine
Street
Area : Mushrifah
District
PO Box : 30971 &
15076
Town : Jeddah 21444
Country : Saudi Arabia
Telephone : (966-12)
6737373 / 6739178
Facsimile : (966-12)
6737373 / 6701871
Mobile : (966-50)
04682197
Email : muradhoms@gmail.com
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Jeddah.
Branch Office (s)
Location Description
East Express Highway Rented
showroom premises
Jeddah
Tel: (966-12) 6292282 / 6520776
Fax: (966-12) 6292213
West High Express Rented
showroom premises
Jeddah
Tel: (966-12) 6402979
Name Position
Azza Bint Wasel Shafiq Raslan Proprietor
Mohamed Hisham Al Dorubi General
Manager
Tamer Al Jedie Commercial
Manager
Mohamed Amer Murad Marketing
Manager
Musad El Bili Finance
Manager
Labib Tabakh Sales
Manager
Date of Establishment : 07/02/1410 Hijri
(corresponding to 8th September 1989)
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 4030066872,
Jeddah
Chamber Member No. : 31809
Invested Capital : SR 60,000
Azza Bint Wasel Shafiq Raslan is the sole
proprietor of the business.
Activities: Engaged in the wholesale and retail of ceramics, marble,
granite and other building materials.
Import Countries: Europe and GCC countries.
International Suppliers:
Kunial Italy
BICA Italy
Tugnana Italy
Tecmar Turkey
Operating Trend: Steady
Subject has a workforce of 20 employees.
Financial highlights provided by local sources are given below:
Currency: Saudi Riyals (SR)
Year Ending 31/12/13: Year Ending 31/12/14:
Total Sales SR
7,850,000 SR
8,100,000
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
Fax: (966-12) 6446644
No complaints regarding subject’s payments have been reported.
Please note that the subject’s correct name is “Raslan Trading Est” and
not “Ruslan Trading Est”.
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.62.16 |
|
|
1 |
Rs.94.28 |
|
Euro |
1 |
Rs.73.73 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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 |
|
<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.