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Report No. : |
328475.2 |
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Report Date : |
06.07.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Talah Al Aidrous Street, Bab Sharif, Al Zahara District, 118062 Jeddah 21432 & 21484 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
25.03.2002 |
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Com. Reg. No.: |
4030137653 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import and distribution of general foodstuffs and consumer goods and providers of commissioning and brokerage services |
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No. of Employees : |
6 |
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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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, telecommuncations, 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. In 2014 the
Kingdom ran its first budget deficit since 2009, and faces budget deficits for
the foreseeable future because it requires an oil price greater than $100 per
barrel to balance its budget. Although the Kingdom can finance high deficits
for several years by drawing down its considerable foreign assets or borrowing,
it probably will begin to reduce capital spending if oil prices stay low
through the next year.
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Source
: CIA |
Company Name : SAOUD NAHAR BIN KHALAF AL GHUBAINI EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 25th March 2002
Commercial Registration Number : 4030137653, Jeddah
Chamber Membership Number : 83605
Invested Capital : SR 20,000
Total Workforce : 6
Activities : Distributors of general foodstuffs and consumer goods and providers of
commissioning and brokerage services
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
SAOUD NAHAR BIN
KHALAF AL GHUBAINI EST
Street : Talah Al
Aidrous Street
Area : Bab Sharif,
Al Zahara District
PO Box : 118062
Town : Jeddah 21432 & 21484
Country : Saudi Arabia
Telephone : (966-12) 6921409
Facsimile : (966-12) 6921409
Mobile : (966-55) 5847751 / 3300088
Subject operates
from a small suite of offices that are rented and located in the Suburban
Business Area of Jeddah.
Name Position
·
Saoud
Nahar Bin Khalaf Al Ghubaini Proprietor
& General Manager
·
Badar
Al Ghubaini Sales
Manager
Date of Establishment : 11/01/1423 Hijri
(corresponding to 25th March 2002)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030137653,
Jeddah
Chamber Member No. : 83605
Invested Capital
: SR 20,000
Mr Saoud Nahar Bin
Khalaf Al Ghubaini is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
general foodstuffs and consumer goods and providers of
commissioning and brokerage services.
Import
Countries: Europe and GCC
countries.
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 Sales SR 8,310,000 SR 8,850,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local 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.
Please note that
the correct name of the subject is “Saoud Nahar Bin Khalaf Al Ghubaini Est” and
not “Saoud Nahar K Al Ghurbani 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 63.39 |
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1 |
Rs. 98.94 |
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Euro |
1 |
Rs. 70.33 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
DPT |
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 |
-- |
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.