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Report No. : |
302883 |
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Report Date : |
17.01.2015 |
IDENTIFICATION DETAILS
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Name : |
MUHAMMAD HUSSAIN MUHAMMAD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
11.04.1994 |
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Com. Reg. No.: |
4031017067 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the wholesale and retail of textiles and readymade garments |
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No. of Employees : |
03 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 - 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 : MUHAMMAD HUSSAIN MUHAMMAD AL SHARIF
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 11th April 1994
Commercial Registration Number : 4031017067
Chamber Membership Number : 56218
Invested Capital : SR 25,000
Total Workforce : 3
Activities : Wholesalers and retailers of textiles and readymade garments.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Muhammad Hussain Muhammad Al Sharif, Proprietor & General Manager
MUHAMMAD HUSSAIN MUHAMMAD AL SHARIF
Building : Farah Moassisa Abdul Latif Building
Area : Bab Sharif
Town : Jeddah
Country : Saudi Arabia
Telephone : (966-12)
6654371
Facsimile : (966-12)
6654371
Mobile : (966-50)
6607969 / 8753650
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Jeddah.
Name Position
· Muhammad Hussain Muhammad Al Sharif Proprietor
& General Manager
· Abdulaziz Mohamed Sales
Executive
Date of
Establishment : 29/10/1414 Hijri (corresponding to 11th April 1994)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 4031017067
Chamber Member No. : 56218
Invested Capital : SR 25,000
Mr Muhammad Hussain
Muhammad Al Sharif is the sole proprietor of the
business.
Activities: Engaged in the wholesale and retail of textiles and readymade garments.
Import Countries: Europe and the Far East.
Subject has a workforce of 3 employees.
Companies registered in Saudi Arabia are not legally required to make
their accounts public and no financial information was released by the company
or submitted by outside sources.
·
Arab National Bank
Madinah Road
PO Box: 9463
Jeddah 21413
Tel: (966-12) 6600272
Fax: (966-12) 6650202
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.89 |
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1 |
Rs.93.92 |
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Euro |
1 |
Rs.72.01 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
NIS |
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.