|
Report No. : |
332636 |
|
Report Date : |
28.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
DAR AL NASSARA TRADING EST |
|
|
|
|
Registered Office : |
Al Sitteen Street, Al Malaz District, PO Box : 335276, Riyadh 11341 |
|
|
|
|
Country : |
Saudi Arabia |
|
|
|
|
Date of Incorporation : |
12.02.2009 |
|
|
|
|
Com. Reg. No.: |
1010225995, Riyadh |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Subject is engaged in the import and distribution of sanitary ware
products and ceramics. |
|
|
|
|
No. of Employee : |
8 |
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 |
Company Name :
DAR AL NASSARA TRADING EST
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
12th February 2009
Commercial Registration Number :
1010225995, Riyadh
Membership Number :
173233
Invested Capital :
SR 40,000
Total Workforce : 8
Activities :
Distributors of sanitary ware products and ceramics.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
DAR AL NASSARA TRADING EST
Street : Al Sitteen
Street
Area :
Al
Malaz District
PO Box : 335276
Town : Riyadh 11341
Country : Saudi Arabia
Telephone : (966-11)
4027425 / 4090754
Facsimile : (966-11)
4027425
Mobile : (966-50)
6466751
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Riyadh.
Name Position
· Mutaher Hassan
Al Guari Proprietor
& General Manager
· Faris Mohamed Sales
Manager
Date of
Establishment : 16/02/1430 Hijri
(corresponding to 12th February 2009)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 1010225995, Riyadh
Membership No. : 173233
Invested Capital : SR 40,000
Mr Mutaher Hassan Al Guari is the sole proprietor of the business.
Activities: Engaged in the import and distribution of sanitary ware products and
ceramics.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 8 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
9,200,000 SR
9,750,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local sources.
·
National Commercial Bank
Malaz Branch
PO Box: 42536
Riyadh 11551
Tel: (966-11)
4776450
Fax: (966-11)
4769502
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.64.00 |
|
|
1 |
Rs.99.43 |
|
Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ASH |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.