MIRA INFORM REPORT

 

 

Report No. :

330869

Report Date :

11.07.2015

 

IDENTIFICATION DETAILS

 

Name :

AL HASANIAH EST FOR CERAMIC & MARBLE

 

 

Registered Office :

Asir, PO Box 363, Khamis Mushait

 

 

Country :

Saudi Arabia

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

12.04.2001

 

 

Com. Reg. No.:

5855020392

 

 

Legal Form :

Sole Proprietorship

 

 

LINE OF BUSINESS :

ENGAGED IN THE IMPORT AND DISTRIBUTION OF CERAMICS, MARBLE AND SANITARY WARE PRODUCTS.

 

 

No. of Employees :

45

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

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

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Saudi Arabia

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

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, 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.

 

Source : CIA

 

SUMMARY

 

Company Name                                    : AL HASANIAH EST FOR CERAMIC & MARBLE

Also Known As                                     : ALI ABDULLAH RAFEA AL HASANIAH

Country of Origin                                   : Saudi Arabia

Legal Form                                           : Sole Proprietorship

Registration Date                                  : 12th April 2001

Commercial Registration Number           : 5855020392, Khamis Mushait

Chamber Membership Number               : 3892

Invested Capital                                    : SR 200,000

Total Workforce                                     : 45

Activities                                               : Distribution of ceramic and marble

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Person Interviewed                                : Salah Thawabata, Sales Manager

 

 

 

COMPANY NAME

 

AL HASANIAH EST FOR CERAMIC & MARBLE

 

 

ALSO KNOWN AS

 

ALI ABDULLAH RAFEA AL HASANIAH

 

 

ADDRESS

 

Registered & Physical Address

 

Location           : Asir

PO Box            : 363

Town                : Khamis Mushait

Country             : Saudi Arabia

Telephone         : (966-17) 2220952

Facsimile          : (966-17) 2230104

Email                : info@hasaniah.com

 

Premises

 

Subject operates from a medium sized suite of offices that are rented and located in the Suburban Business Area of Khamis Mushait.

 

Branch Office (s)

 

Location                                                                                               Description

 

Madinah                                                                                                Showroom premises

Tel: (966-14) 8360577

Fax: (966-14) 8346168

 

Jeddah                                                                                                 Showroom premises

Tel: (966-12) 6762372

Fax: (966-12) 6733182

           

Abha                                                                                                    Showroom premises     

Tel: (966-17) 2257733

Fax: (966-17) 2251999

 

Jizan                                                                                                     Showroom premises

Tel: (966-17) 3213904

Fax: (966-17) 3213903

 

KEY PRINCIPALS

 

Name                                                                                       Position

 

Ali Abdullah Rafea Al Hasaniah                                                  Proprietor & General Manager

 

Majid Ali Abdullah Rafie Al Hasaniah                                          Assistant General Manager

 

Salah Thawabata                                                                       Sales Manager

 

Samir Al Mutwali                                                                        Finance Manager

 

Fahd Al Qahtani                                                                        Administration Executive

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 12th April 2001

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.   : 5855020392, Khamis Mushait

 

Chamber Member No.  : 3892

 

Invested Capital           : SR 200,000

 

Mr Ali Abdullah Rafea Al Hasaniah is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of ceramics, marble and sanitary ware products.

 

Import Countries: Spain

 

Principal Suppliers:

 

TAU Ceramic                             Spain

Latina Ceramic                          Spain

Keros                                       Spain

Uniceramica                              Spain

Saudi Ceramic Co                     Saudi Arabia

 

Operating Trend: Steady

 

Subject has a workforce of 45 employees.

FINANCIAL DATA

 

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 19,000,000                           SR 19,645,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

Al Rajhi Banking & Investment Corporation

PO Box: 29

Khamis Mushait

Tel: (966-17) 2237425

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

According to local sources, subject meets its payment obligations in a timely manner and the business is considered to be a fair trade risk.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.38

UK Pound

1

Rs.97.65

Euro

1

Rs.70.43

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TPT

 

               

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

 

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

 

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.