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Report No. : |
311576 |
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Report Date : |
17.03.2015 |
IDENTIFICATION DETAILS
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Name : |
RIYADH MODERN
FACTORY FOR LEATHER INDUSTRY |
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|
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Registered Office : |
Villa No. 15, Al Sitteen Street, Al Malaz District, P O Box: 8903,
Riyadh 11492 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
22.05.1406
Hijri (corresponding to 1st February 1986) |
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Com. Reg. No.: |
1010061852,
Riyadh |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Subject
is engaged in the Processing of Sheep Leather and Hides. |
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No. of Employees : |
475 |
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 |
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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
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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, telecommunications,
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. Riyadh has substantially boosted spending on
job training and education, most recently with the opening of the King Abdallah
University of Science and Technology - Saudi Arabia's first co-educational
university. As part of its effort to attract foreign investment, Saudi Arabia
acceded to the WTO in 2005. The government has begun establishing six
"economic cities" in different regions of the country to promote
foreign investment and plans to spend $373 billion between 2010 and 2014 on
social development and infrastructure projects to advance Saudi Arabia's
economic development.
|
Source
: CIA |
Company Name : RIYADH
MODERN FACTORY FOR LEATHER INDUSTRY
Country of Origin : Saudi
Arabia
Legal Form :
Sole Proprietorship
Registration Date : 1st February 1986
Commercial
Registration Number : 1010061852, Riyadh
Chamber Membership
Number : 3612
Invested Capital :
SR 3,175,000
Total Workforce : 475
Activities :
Processing of sheep leather and hides
Financial Condition : Undetermined
Payments : Nothing
detrimental uncovered
Person Interviewed : Yahya Ali Abdo Rabo,
Production Manager
RIYADH MODERN
FACTORY FOR LEATHER INDUSTRY
Building : Villa No. 15
Street : Al
Sitteen Street
Area :
Al Malaz District
PO Box : 8903
Town : Riyadh 11492
Country : Saudi Arabia
Telephone : (966-11) 4764621 / 4788293
Facsimile : (966-11) 4774448
Email : rmfli@hotmail.com
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Riyadh.
Branch Office
(s)
Location Description
·
Al
Hayer Area Owned
factory premises
Riyadh
Tel: (966-50) 5418347
Name Position
·
Homoud
Abdul Rahman Al Hazimi Proprietor
& General Manager
·
Bander
Homoud Abdul Rahman Al Hazimi Assistant
General Manager
·
Yahya Ali Abdo Rabo Production
Manager
·
Yousef Mansour Financial
Controller
·
Khaldi
Abdulaziz Chief
Financial Officer
·
Adel Yousef Administrative
Officer
Date of Establishment : 22/05/1406 Hijri (corresponding to 1st February
1986)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010061852, Riyadh
Chamber Member No. : 3612
Invested Capital
: SR 3,175,000
Mr. Homoud Abdul
Rahman Al Hazimi is the sole proprietor of the business.
·
Al Hazimi Trading Est
PO Box: 8903
Riyadh 11492
CR No. 1010006574
Activities: Engaged in the
processing of sheep leather and hides.
Clients include Tata International, India.
Import
Countries: India, Pakistan,
Sudan, Belgium and the United Kingdom
Subject has a
workforce of approximately 475 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.
·
Arab
National Bank (ANB)
King Faisal Street
North Morabbaa
PO Box: 56921
Riyadh 11564
Tel: (966-1) 4029000
Fax: (966-1) 4027747
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.62.82 |
|
|
1 |
Rs.92.83 |
|
Euro |
1 |
Rs.66.17 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
|
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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 |
|
|
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 |
|
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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 |
|
|
<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.