|
Report No. : |
320239 |
|
Report Date : |
02.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
MOHAMED ABDUL WAHAB ABU BAKR AL TAYIB FOR TRADING ESTABLISHMENT |
|
|
|
|
Registered Office : |
Al Eshreen Street, Al Faysaliyah District, PO Box 39807, Riyadh 11489 |
|
|
|
|
Country : |
Saudi
Arabia |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
01.01.1989 |
|
|
|
|
Com. Reg. No.: |
1010070022 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Engaged in the wholesale and retail of electrical tools. |
|
|
|
|
No. of Employees : |
3 |
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 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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. 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.
|
Source
: CIA |
Company Name :
MOHAMED ABDUL WAHAB ABU BAKR AL TAYIB FOR TRADING
ESTABLISHMENT
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
1st January 1989
Commercial Registration Number :
1010070022, Riyadh
Chamber Membership Number :
16208
Invested Capital :
SR 15,000
Total Workforce :
3
Activities :
Wholesalers and retailers of electrical tools
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Mohamed Abdel Wahab Abu Bakr Altayib, Proprietor
MOHAMED ABDUL WAHAB ABU BAKR AL TAYIB FOR TRADING ESTABLISHMENT
Registered &
Physical Address
Street : Al Eshreen
Street
Area : Al
Faysaliyah District
PO Box :
39807
Town : Riyadh 11489
Country : Saudi Arabia
Telephone : (966-11)
2708121
Facsimile : (966-11)
2708266
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Suburban Business Area of Riyadh.
Name Position
Mohamed Abdel Wahab Abu Bakr Altayib Proprietor
Eshad Ibrahim Sales
Manager
Date of Establishment : 1st January 1989
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 1010070022,
Riyadh
Chamber Member No. : 16208
Invested Capital : SR 15,000
Mr Mohamed Abdel Wahab Abu Bakr Altayib is the sole proprietor of the
business.
Activities: Engaged in the wholesale and retail of electrical tools.
Import Countries: China
Operating Trend: Steady
Subject has a workforce of 3 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 Sales SR
6,100,000 SR
6,540,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Al Rajhi Banking & Investment Corporation
PO Box: 28
Riyadh 11411
Tel: (966-11) 4054647 / 4054244
Fax: (966-11) 4044753 / 4052950
No complaints regarding subject’s payments have been reported.
Please note that the correct name of the subject is “Mohamed Abdul Wahab
Abu Bakr Al Tayib for Trading Establishment” and not “MAW Altayib for Trading Est”.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.97.99 |
|
Euro |
1 |
Rs.70.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
|
|
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 |
|
|
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.