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Report No. : |
303527 |
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Report Date : |
22.01.2015 |
IDENTIFICATION DETAILS
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Name : |
KADI TRADING
COMPANY |
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Registered Office : |
Mina Port Road,
Al Khaldiya, P O Box 9691, Dammam 31423 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2014 (Estimated) |
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Date of Incorporation : |
01.01.1988 |
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Com. Reg. No.: |
2050017235, Dammam |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the
import, export and maintenance of tents and shades |
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No of Employees : |
06 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 : KADI TRADING COMPANY
Country of Origin : Saudi Arabia
Legal Form : Limited Liability Company
Registration Date : 1st January 1988
Commercial Registration Number : 2050017235, Dammam
Issued Capital : SR 100,000
Paid up Capital : SR 100,000
Total Workforce : 6
Activities : Import, export and maintenance of tents and shades
Financial Condition : Fair
Payments : No Complaints
Operating Trend : Steady
KADI TRADING COMPANY
Registered &
Physical Address
Street : Mina Port Road
Area : Al Khaldiya
PO Box : 9691
Town : Dammam 31423
Country : Saudi Arabia
Telephone : (966-13) 8321834
Facsimile : (966-13) 8322578
Email : info@kadiholding.com
Premises
Subject operates
from a small suite of administrative offices, warehousing facilities and retail
outlet that are rented and located in the Industrial Area of Dammam.
Name Position
·
Ryad
Mohamed Al Kadi Chairman
·
Abd El
Salam El Hamad General
Manager
·
Abd El
Halim Hagag Human
Resources Manager
·
Fakhry
El Manea Sales
Manager
·
Abdallah
El Shemry Secretary
Date of Establishment : 1st
January 1988
Legal Form :
Limited Liability Company
Commercial Reg. No. : 2050017235,
Dammam
Issued Capital : SR 100,000
Paid up Capital : SR 100,000
Name of
Shareholder (s)
·
Ryad
Mohamed Al Kadi
·
Essam Ryad Mohamed Al Kadi
·
Yasser Ryad Mohamed Al Kadi
·
Journey
Kingdom
·
Zajil
·
Kadi
Shades
·
Kadi
Real Estate
·
Occasions
Trading Company
·
Hat-Ex
·
Kadi
Agriculture & Poultry Company
Activities: Engaged in the import, export and
maintenance of tents and shades.
Local Clients:
·
Saudi
Aramco
·
Sabic
·
King
Faisal University
·
University
of Dammam
·
Bahrain
Defence Force
·
Ministry
of Finance of Saudi Arabia
·
Saudi
Ministry Of Transport And Communications
·
Saudi
Defence Ministry
·
Pan Gulf
Products
·
Association
El Folk-Qatif
Import
Countries: China, Pakistan,
Germany and the United Kingdom
Principal
Suppliers:
·
El Bakr
Factory Saudi
·
Hild United
Kingdom
Export
Countries: Gulf Countries, Middle East, Iraq and Libya
Operating Trend: Steady
Subject has a
workforce of 6 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 Revenue SR 11,200,000 SR 11,465,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Al
Rajhi Banking & Investment Corporation
King Saud Street
PO Box: 176
Dammam 31411
Tel: (966-3) 8338387 / 8346189
Fax: (966-3) 8323843
·
National
Commercial Bank
PO Box: 13
Dammam 31411
Tel: (966-3) 8331188
Fax: (966-3) 8336058
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.61.61 |
|
UK Pound |
1 |
Rs.93.49 |
|
Euro |
1 |
Rs.71.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
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Report Prepared
by : |
MNL |
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 |
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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 |
|
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 |
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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 |
|
-- |
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.