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Report No. : |
326201 |
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Report Date : |
16.06.2015 |
IDENTIFICATION DETAILS
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Name : |
ARMACELL ZAMIL
MIDDLE EAST COMPANY LTD |
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Registered Office : |
Intersection of Street 4 and 7, 1st Industrial City, P O Box: 8265, Dammam 31482 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
May, 2008 |
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Com. Reg. No.: |
2050062967,
Dammam |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Import,
Manufacture and Distribution of Elastomeric Rubber as a Thermal and Acoustic
Insulation. |
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No. of Employees : |
200 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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
|
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 : ARMACELL
ZAMIL MIDDLE EAST COMPANY LTD
Country of Origin : Saudi
Arabia
Legal Form : Limited
Liability Company
Registration Date : May 2008
Commercial
Registration Number :
2050062967, Dammam
Issued Capital : SR
100,000,000
Paid up Capital : SR
100,000,000
Total Workforce : 200
Activities :
Manufacture and distribution of elastomeric rubber.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
ARMACELL ZAMIL
MIDDLE EAST COMPANY LTD
Street : Intersection of Street 4 and 7
Area : 1st Industrial
City
PO Box : 8265
Town : Dammam 31482
Country : Saudi Arabia
Telephone : (966-13) 8471888
Facsimile : (966-13) 8471363
Mobile : (966-55) 9226931
Email : info@armacell.com / csddammam@armacell-zamil.com
Subject operates
from a large suite of offices, a warehouse and a production unit that are
rented and located in the Industrial Area of Dammam.
Name Position
·
Abdullah
Mohamed El Zamil Chairman
·
Mesbah
Khan General
Manager
·
Raghuram
Gorthi Finance
Manager
Date of Establishment : May 2008
Legal Form :
Limited Liability Company
Commercial Reg. No. : 2050062967,
Dammam
Issued Capital : SR 100,000,000
Paid up Capital : SR 100,000,000
·
Armacell
International Holding 51%
Germany
·
Zamil
Industrial 49%
Activities: Engaged in the import, manufacture and
distribution of elastomeric rubber as a thermal and acoustic
insulation.
Subject is ISO 9001:2008 accredited.
Import
Countries: Italy
Brand Names: ARMAFELX AC, ARMAFLEX AP and ARMASOUND
Subject has a
workforce of 200 employees.
Companies
registered in Saudi Arabia are not legally required to make their accounts
public and no financial information was released by the company or submitted by
outside sources.
·
Riyad
Bank
Prince Mohammed Street
PO Box: 2123
Dammam
Tel: (966-13) 8323440
Fax: (966-13) 8337829
·
Al
Rajhi Banking & Investment Corporation
PO Box: 176
Dammam 31411
Tel: (966-13) 8328419
Fax: (966-13) 8331882
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.64.09 |
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|
1 |
Rs.99.57 |
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Euro |
1 |
Rs.71.84 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
NIT |
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.