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Report No. : |
314114 |
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Report Date : |
23.03.2015 |
IDENTIFICATION DETAILS
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Name : |
SAPPHIRE TRADING
EST |
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Registered Office : |
Khalidiya Industrial Area, Dammam 31516 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
24.01.2012 |
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Com. Reg. No.: |
2050051175, Dammam |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import and distribution of general foodstuffs,
including rice and spices. |
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No of Employees : |
12 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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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 :
SAPPHIRE TRADING EST
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
24th January 2012
Commercial Registration Number :
2050051175, Dammam
Chamber Membership Number :
76698
Invested Capital : SR 50,000
Total Workforce :
12
Activities :
Distributors of general foodstuffs
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Choudary Mohamed Amjad, Assistant General Manager
SAPPHIRE TRADING
EST
Location : Khalidiya Industrial
Area
PO Box :
63323
Town : Dammam 31516
Country : Saudi Arabia
Telephone : (966-3) 8323511
Facsimile : (966-3)
8324137
Mobile : (966-50)
5655723
Email : sapphire.amjad@gmail.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dammam.
Branch Offices
Location Description
· Jeddah Office
premises
Tel: (966-2)
2685245 / 6355051
Fax: (966-2)
2684055 / 6368515
· Petromin Street,
Al Noojom Roundabout Office
premises
Jeddah
Name Position
· Fahd Ali Abdullah
Al Bibi Proprietor
& General Manager
· Choudary Mohamed
Amjad Assistant
General Manager
Date of Establishment : 29/02/1433 Hijri (corresponding to 24th
January 2012)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 2050051175, Dammam
Chamber Member No. : 76698
Invested Capital : SR 50,000
Mr Fahd Ali Abdullah Al Bibi is the sole proprietor of the business.
Activities: Engaged in the
import and distribution of general foodstuffs, including rice and spices.
Import Countries: India
and Pakistan
International
Suppliers:
· Mahveer Rice India
· Mahvir Global India
· Bhart Industries India
· Ghoufia Food Pakistan
· Aftan Food Pakistan
· Manzoor & Co Pakistan
· Kas Commodities Pakistan
Subject has a workforce of 12 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.
·
National Commercial Bank
PO Box: 13
Dammam 31411
Tel: (966-3) 8331188
Fax: (966-3)
8336058
Unknown
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.62.49 |
|
|
1 |
Rs.92.26 |
|
Euro |
1 |
Rs.66.80 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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.