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Report No. : |
320296 |
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Report Date : |
07.05.2015 |
IDENTIFICATION DETAILS
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Name : |
ALI ABDULLAH AL SHAMRANI TRADING & CONTRACTING ESTABLISHMENT |
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Registered Office : |
King Abdullah Street, Al Abama, P O Box: 2829, Dammam 31461 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2014 |
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Year of Establishment : |
1991 |
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Com. Reg. No.: |
2050073504,
Dammam |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and
Distribution of Electro Mechanical Products, Hardware, Light Tools Machinery and
Safety Items. |
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No. of Employees : |
20 |
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) |
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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 : ALI
ABDULLAH AL SHAMRANI TRADING & CONTRACTING
ESTABLISHMENT
Trade Name :
ASTACO
Country of Origin : Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date : 1991
Commercial
Registration Number :
2050073504, Dammam
Invested Capital :
SR 10,000
Total Workforce : 20
Activities :
Distribution of electro mechanical products, hardware, light tools
machinery and safety items.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
ALI ABDULLAH AL
SHAMRANI TRADING & CONTRACTING ESTABLISHMENT
ASTACO
Street : King Abdullah Street
Area : Al Abama
PO Box : 2829
Town : Dammam 31461
Country : Saudi Arabia
Telephone : (966-13) 8058491 / 8056041
Facsimile : (966-13) 8056042
Email : info@astacogroup.com / trade@astacogroup.com / babu@astacogroup.com
Subject operates
from a medium sized suite of offices that are rented and located in the
Suburban Business Area of Dammam.
Branch Office
(s)
Location Description
·
King
Faisal Street Office
and showroom premises
Jubail
Name Position
·
Ali
Abdullah Al Shamrani Proprietor
·
Babu
Warghis General
Manager
·
Zein
Babu Warghis Financial
Manager
·
Manoj
Saab Purchasing
Manager
Date of Establishment : 1991
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 2050073504,
Dammam
Invested Capital
: SR 10,000
Mr Ali Abdullah Al
Shamrani is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
electro mechanical products, hardware, light tools machinery and safety items.
Import
Countries: India
Sole Agencies:
·
Zolex
Local Clients:
·
Khaled Ajuril Est
·
Rawabi International
Operating Trend: Steady
Subject has a
workforce of 20 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 12,410,000 SR 12,835,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Saudi
British Bank
PO Box: 1618
Dammam 31411
Tel: (966-13) 8331553
·
National
Commercial Bank
PO Box: 13
Dammam 31411
Tel: (966-13) 8331188
Fax: (966-13) 8336058
No complaints
regarding subject’s payments have been reported.
Please note that
the correct name of the subject is “Ali Abdullah Al Shamrani Trading &
Contracting Establishment” and not “Al Shamrani”.
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.63.64 |
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|
1 |
Rs.96.81 |
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Euro |
1 |
Rs.71.51 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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.