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Report No. : |
324996 |
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Report Date : |
02.06.2015 |
IDENTIFICATION DETAILS
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Name : |
SAUDI CRAWFORD DOORS FACTORY LTD |
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Registered Office : |
Industrial Area, Phase II, PO Box 25960, Riyadh 11476 |
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Country : |
Saudi
Arabia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
07.07.2007 |
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Com. Reg. No.: |
1010068540 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the manufacture of overhead sectional doors, folding doors,
high speed doors and vertical lifting fabric doors, as well as docking
systems. |
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No. of Employees : |
60 |
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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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, 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 :
SAUDI CRAWFORD DOORS FACTORY LTD
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Company
Registration Date :
7th July 2007
Commercial Registration Number :
1010068540, Riyadh
Chamber Membership Number :
14508
Issued Capital :
SR 2,000,000
Paid up Capital :
SR 2,000,000
Total Workforce :
60
Activities :
Manufacturers of overhead sectional doors, folding doors, high speed
doors and vertical lifting fabric doors, as
well as docking systems.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Qwais Iqbal, Finance Manager
SAUDI CRAWFORD DOORS FACTORY LTD
Registered &
Physical Address
Location : Industrial
Area, Phase II
PO Box : 25960
Town : Riyadh 11476
Country : Saudi Arabia
Telephone : (966-11)
2652225
Facsimile : (966-11)
2652226
Email : doors@crawforddoor.com.sa
Premises
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of Riyadh.
Branch Office (s)
Location Description
Takhassusi Street Office
premises
Riyadh
Tel: (966-11) 4162075
Jeddah Office
premises
Tel: (966-12) 6511248
Al Khobar Office
premises
Tel: (966-13) 8955100
Name Position
Mahmoud Noor Al Maliki Chief
Executive Officer
Abdulrahman Abdullah Abdulrahman Al Mohaisen General Manager
Qwais Iqbal Finance
Manager
Mostafa Al Shalaby Commercial
Manager
Date of Establishment : 21/06/1428 Hijri
(corresponding to 7th July 2007)
Legal Form : Limited Liability
Company
Commercial Reg. No. : 1010068540,
Riyadh
Chamber Member No. : 14508
Issued Capital : SR 2,000,000
Paid up Capital : SR 2,000,000
Name of
Shareholder (s) Percentage
Heirs of the late Dr Abdullah
Abdulrahman Al Mohaisen 60%
Crawford Group AB 40%
Sweden
Activities: Engaged in the manufacture of overhead sectional doors, folding doors,
high speed doors and vertical lifting fabric doors, as well as docking systems.
Import Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a workforce of 60 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
50,000,000 SR
55,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Qwais Iqbal, Finance Manager
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 company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.61 |
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1 |
Rs.97.27 |
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Euro |
1 |
Rs.69.63 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
TPT |
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.