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Report No. : |
314822 |
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Report Date : |
31.03.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Balsharaf Building, King Fahad Street, Al Olaya District 31116, Riyadh 11497 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
08.06.2009 |
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Com. Reg. No.: |
1010026803 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import and distribution of general foodstuffs and cleaning materials. |
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No of Employees : |
2,600 |
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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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.
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Source
: CIA |
Company Name : OMAR ALI BALSHARAF TRADING ESTABLISHMENT
Country of Origin : Saudi Arabia
Legal Form : Sole Proprietorship
Registration Date : 8th June 2009
Commercial Registration Number : 1010026803, Riyadh
Invested Capital : SR 11,150,000
Total Workforce : 2,600
Activities : Distributors of general foodstuffs and cleaning materials.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
OMAR ALI BALSHARAF
TRADING ESTABLISHMENT
Building : Balsharaf Building
Street : King Fahad Street
Area : Al Olaya District
PO Box : 31116
Town : Riyadh 11497
Country : Saudi Arabia
Telephone : (966-11) 8809999
Facsimile : (966-11) 4632656
Mobile : (966-50) 5770509
Email : info@balsharaf.com.sa
Subject operates from
a large suite of offices that are owned and located in the Central Business
Area of Riyadh.
Branch Office
(s)
Location Description
·
Al
Rayan, Al Bandak 5 Office
premises
Riyadh
Tel: (966-11) 492125
·
Al
Mahgar Office
premises
Jeddah
Tel: (966-12) 6376866
·
Al Haj
Street Office
premises
Makkah El Mokarama
Tel: (966-12) 5731702
·
Abu
Nemr Street Retail
outlet
Shraf District
Hael
Tel: (966-16) 5322214
·
King
Abdullah Road Retail
outlet
Flowers District
Yanbou
Tel: (966-14) 392222
·
Wholesale
Market Retail
outlet
Sakaka
Tel: (966-14) 624681
·
Al
Maabog Retail
outlet
Jizan
Tel: (966-17) 2233485
·
Abha
Road Retail
outlet
Khamis Mashet
Tel: (966-17) 2233485
·
Akershah
District Retail
outlet
Borida
Tel: (966-16) 4577214
Name Position
·
Omar
Ali Obaid Omar Balsharaf Proprietor
·
Mohamed
Ali Balsharaf Chief
Executive Officer
·
Abdullah
Ali Balsharaf Agency
General Manager
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Amer
Khan Finance
Manager
·
Ahmed
Talaat Accountant
·
Saged
Riyaz Human
Resources Manager
Date of Establishment : 8th
June 2009
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010026803,
Riyadh
Invested Capital
: SR 11,150,000
Mr Omar Ali Obaid
Omar Balsharaf is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
general foodstuffs and cleaning materials.
Subject is ISO 22000:2005 accredited
Import
Countries: Korea, India,
Spain, Italy, United Kingdom, Japan and Turkey.
International
Suppliers:
·
Dairy
Ian United Kingdom
·
Gullon Spain
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Lotte Japan
·
Freddi Italy
Local
Suppliers:
·
Wafrah
Local Clients:
·
Al
Wassim
·
Panda
Supermarket
·
Carrefour
Brand Names: BEBETO, AL BUSTAN, HAPPY MOMENTS, ABU
QUILADA, SWEET HOUSE, DAN CAKE,
CONSUL, FREDDI, TELEPHONE RICE, AL
MITHALI, BAITY, LOTTE, SAMLA and SUFANA
Subject has a
workforce of approximately 2,600 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.
·
Al
Rajhi Banking & Investment Corporation
PO Box: 28
Riyadh 11411
Tel: (966-11) 4054647 / 4054244
Fax: (966-11) 4044753 / 4052950
·
Al Bank
Al Saudi Al Hollandi
Al Dhabab Street
PO Box: 1467
Riyadh 11431
Tel: (966-11) 4067888
No complaints
regarding subject’s payments have been reported.
Please note that
the correct commercial registration number is 1010026803 and not 1010013899.
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 |
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US Dollar |
1 |
Rs. 62.63 |
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|
1 |
Rs. 92.94 |
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Euro |
1 |
Rs. 68.06 |
INFORMATION DETAILS
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Analysis Done by
: |
KRN |
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Report Prepared
by : |
DPT |
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 |
-- |
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.