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Report No. : |
319281 |
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Report Date : |
02.05.2015 |
IDENTIFICATION DETAILS
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Name : |
DAR ALSHWAKAN COMPANY |
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Registered Office : |
Bin Salama Street, Al Amal District, PO Box 12065, Riyadh 11689 |
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Country : |
Saudi
Arabia |
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Date of Incorporation : |
08.06.2011 |
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Com. Reg. No.: |
1010310386 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the import and distribution of automotive accessories |
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No. of Employees : |
3 |
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 |
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Status : |
Moderate |
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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) |
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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 :
DAR ALSHWAKAN COMPANY
Country of Origin :
Saudi Arabia
Legal Form :
Limited Liability Company
Registration Date :
8th June 2011
Commercial Registration Number :
1010310386, Riyadh
Membership Number :
254144
Issued Capital :
SR 500,000
Paid up Capital :
SR 500,000
Total Workforce :
3
Activities :
Distributors of automotive accessories
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
DAR ALSHWAKAN COMPANY
Registered &
Physical Address
Street : Bin Salama
Street
Area : Al Amal
District
PO Box : 12065
Town : Riyadh 11689
Country : Saudi Arabia
Telephone : (966-11)
4010722
Facsimile : (966-11)
4081783
Mobile : (966-56)
8188267
Premises
Subject operates from a small suite of offices and showroom that are rented
and located in the Central Business Area of Riyadh.
Name Position
Khalil Soliman Al Shwakan Chairman
Mohamed Hassane Managing
Director
Date of Establishment : 8th
June 2011
Legal Form : Limited Liability
Company
Commercial Reg. No. : 1010310386,
Riyadh
Membership No. : 254144
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Name of Shareholder (s)
Khalil Soliman Al Shwakan
Mohamed Hassane
Activities: Engaged in the import and distribution of automotive accessories
Import Countries: Europe and the
Far East.
Subject has a workforce of 3 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
King Abdul Aziz Road
PO Box: 22622
Riyadh 11416
Tel: (966-11) 4013030
No complaints regarding subject’s payments have been reported.
Please note that we were unable to contact the subject directly during
our investigation.
During the course of this investigation nothing detrimental was
uncovered regarding subject’s operating history or the manner in which payments
are fulfilled.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.57 |
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1 |
Rs.97.99 |
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Euro |
1 |
Rs.70.53 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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Report Prepared
by : |
TPT |
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.