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Report No. : |
314565 |
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Report Date : |
27.03.2015 |
IDENTIFICATION DETAILS
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Correct Name : |
MOHAMED AL NASHMI
FOR TRADING EST |
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Registered Office : |
Exit No. 9, Imam Saudi
Street, Al Shouhda District, P O Box 84953, Riyadh 11681 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2014 (Estimated) |
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Year of Establishments : |
1986 |
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Com. Reg. No.: |
1010209205, Riyadh |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import and distribution of building
and Waterproofing Materials as well as timber
and hardware |
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No of Employees : |
45 |
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
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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, 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 |
Concern Name : MOHAMED AL NASHMI FOR TRADING EST
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Start Date : 1986
Registration Date : 15th May 2005
Commercial Registration Number : 1010209205, Riyadh
Membership Number : 156579
Invested Capital : SR 100,000
Total Workforce : 45
Activities : Distributors of building and waterproofing materials as well as timber
and hardware.
Financial Condition : Fair
Payments : No Complaints
Operating Trend : Steady
MOHAMED AL NASHMI FOR TRADING EST
Registered &
Physical Address
Street : Exit No. 9, Imam Saudi Street
Area : Al Shouhda District
PO Box : 84953
Town : Riyadh 11681
Country : Saudi Arabia
Telephone : (966-11) 2491252
Facsimile : (966-11) 2785574
Email : alnashmi-est@alnashmi-est.com /
alnashmi-est@hotmail.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Riyadh.
Branch Offices
Location Description
·
Exit No
8, Al Qadissiya Area Office
premises
Riyadh
·
Exit No
17, Prince Salman Street Office
premises
Riyadh
·
Exit No
5, Al Amanah Area Office
premises
Riyadh
·
Exit No
26, Namar Area Office
premises
Riyadh
Subject also has branch offices located in Jeddah and Dammam.
Name Position
·
Mohamed
Al Nashmi Proprietor
& General Manager
·
Navid
Akram Sales
Manager
·
Mohamed
Al Amin Financial
Manager
·
Mohamed
Hadi Accountant
Date of Establishment : Subject’s operations
date back to 1986, however it was registered on 07/04/1426 Hijri
(corresponding to 15th May 2005)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010209205,
Riyadh
Membership
No. : 156579
Invested Capital
: SR 100,000
Mr. Mohamed Al
Nashmi is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
building and waterproofing materials as well as timber and hardware.
Import
Countries: China, Romania,
India, Indonesia and Malaysia.
International Suppliers:
·
Al Rajhi Steel Saudi
Arabia
·
SABIC Industries Saudi
Arabia
·
Qatar Steel Qatar
·
Gulf Steel United
Arab Emirates
Operating Trend: Steady
Subject has a
workforce of 45 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 Revenue SR 14,650,000 SR 15,500,000
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
Airport Road
PO Box: 2800
Riyadh 11461
Tel: (966-11) 4772281
Fax: (966-11) 4730322
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
concern is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.67 |
|
UK Pound |
1 |
Rs.93.26 |
|
Euro |
1 |
Rs.68.85 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
|
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Report Prepared
by : |
MNL |
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 |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.