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Report No. : |
302710 |
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Report Date : |
16.01.2015 |
IDENTIFICATION DETAILS
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Name : |
ACCURACY WORLD
TRADING EST |
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Registered Office : |
King Khaled Street, P O Box: 4038, Al Ahsa 31982 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
01.01.1995 |
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Com. Reg. No.: |
036843 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import,
Distribution and Installation of Household Electrical Equipment. |
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No. of Employees : |
50 |
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 |
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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
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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 : ACCURACY
WORLD TRADING EST
Country of Origin : Saudi
Arabia
Legal Form :
Sole Proprietorship
Registration Date : 1st
January 1995
Commercial
Registration Number : 036843
Invested Capital : SR 20,000
Total Workforce : 50
Activities :
Distribution and installation of household electrical equipment.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Person Interviewed : Mohamed Abd El
Rahman, Finance Manager
ACCURACY WORLD
TRADING EST
Location : King Khaled Street
PO Box : 4038
Town : Al Ahsa 31982
Country : Saudi Arabia
Telephone : (966-13) 5853366
Facsimile : (966-13) 5863318
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Al Ahsa.
Branch Offices
Location Distribution
·
Sharka Showroom
premises
·
Dammam Showroom
premises
·
Al
Khobar Showroom
premises
Name Position
·
Raed
Abo Ali Proprietor
·
Yasser
Fawzy General
Manager
·
Mohamed
Abd El Rahman Finance
Manager
·
Mohamed
Mohamed Fawzy Purchasing
Manager
Date of Establishment : 1st
January 1995
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 036843
Invested Capital
: SR 20,000
Mr Raed Abo Ali is
the sole proprietor of the business.
·
El
Madaras El Ahlih Company
Saudi Arabia
Activities: Engaged in the import, distribution and
installation of household electrical equipment. Subject owns and operates 25
vehicles.
Import
Countries: Germany, China
and the United States of America.
Local clients:
·
Extra
Company
·
Al Kifah
Holding
·
El Asakr
Company
Brand Names: KONKA and FEMAS
Operating Trend: Steady
Subject has a
workforce of 50 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 50,000,000 SR 60,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Mohamed Abd El Rahman, Finance Manager
·
Al
Rajhi Bank
Prince Nayif Street
Al Ahsa
Tel: (966-13) 5877071
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.61.76 |
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|
1 |
Rs.94.02 |
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Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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.