MIRA INFORM REPORT

Report No. :	320566
Report Date :	09.05.2015

IDENTIFICATION DETAILS

Name :	SAUDI BINLADIN GROUP CO LTD (SBG)

Registered Office :	Abdullah Bin Abdul Rashid Street, Al Rawadah District, P O Box: 105, Riyadh 11411, 86984, Riyadh 11632, Riyadh

Country :	Saudi Arabia

Date of Incorporation :	24.12.1990

Com. Reg. No.:	1010081126, Riyadh

Legal Form :	Limited Liability Company

Line of Business :	Subject is engaged as general construction contractors.

No. of Employees :	400

RATING & COMMENTS

MIRA’s Rating :

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

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, 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.

Source : CIA

SUMMARY

Company Name : SAUDI BINLADIN GROUP CO LTD (SBG)

Country of Origin : Saudi Arabia

Legal Form : Limited Liability Company

Registration Date : 24^th December 1990

Commercial Registration Number : 1010081126, Riyadh

Chamber Membership Number : 2096

Issued Capital : SR 220,000,000

Paid up Capital : SR 220,000,000

Total Workforce : 400

Activities : General construction contractors

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

COMPANY NAME

SAUDI BINLADIN GROUP CO LTD (SBG)

ADDRESS

Registered & Physical Address

Street : Abdullah Bin Abdul Rashid Street

Area : Al Rawadah District

PO Box : 105, Riyadh 11411

86984, Riyadh 11632

Town : Riyadh

Country : Saudi Arabia

Telephone : (966-11) 4932320 / 4932337 / 4761427

Facsimile : (966-11) 496463

Email : info@sbg.com.sa

Premises

Subject operates from a large suite of offices that are rented and located in the Central Business Area of Riyadh.

KEY PRINCIPALS

Name Position

· Bakri Mohamed Binladin Managing Director

· Yahia Mohamed Binladin Director

· Omar Mohamed Binladin Director

· Hassan Mohamed Binladin Director

· Shafiq Mohamed Binladin Director

· Ahmed Mohamed Binladin Director

· Ghaleb Mohamed Binladin Director

· Mahrous Mohamed Binladin Director

· Thabit Mohamed Binladin Director

· Tarek Mohamed Binladin Director

· Haider Mohamed Binladin Director

· Faris Al Hamzi General Manager

· Ahmed Abdul Jalil Accounts Manager

· Mohamed Saleh Financial Controller

LEGAL FORM & OWNERS

Date of Establishment : 24^th December 1990

Legal Form : Limited Liability Company

Commercial Reg. No. : 1010081126, Riyadh

Chamber Member No. : 2096

Issued Capital : SR 220,000,000

Paid up Capital : SR 220,000,000

Name of Partner (s)

· Bakri Mohamed Binladin

· Yahia Mohamed Binladin

· Omar Mohamed Binladin

· Hassan Mohamed Binladin

· Shafiq Mohamed Binladin

· Ahmed Mohamed Binladin

· Ghaleb Mohamed Binladin

· Mahrous Mohamed Binladin

· Thabit Mohamed Binladin

· Tarek Mohamed Binladin

· Haider Mohamed Binladin

AFFILIATED COMPANIES

Subject is a member of the well-known Binladin Group of Companies whose operations date back to 1931 when Mohamed Binladin founded the company. From its humble beginnings as a general contractor the group has grown and prospered. Over the years the company has been entrusted with many major construction projects that have helped Saudi Arabia to develop its resources and expand its infrastructure.

Under the leadership of the late Mohamed Binladin, the company diversified into other areas and became an international conglomerate with interests ranging from its traditional construction business through to industrial and power projects, petroleum, chemicals and mining, telecommunications, operations and maintenance, manufacturing and trading to satellite communications.

The Binladin Group of Companies includes the following concerns:

Construction

· Mohamed Binladin Organisation

· Huta-Hegerfeld Saudi Ltd

· National Company for Foundations

· Project Management & Development Co

· Binladin Contracting & Trading Co

Manufacturing

· Adhesive Manufacturing Company Limited

· Art Company for Crystal Industry

· Artificial Stone Factory

· Al Salem Air Conditioning Co

· Al Salem Light Industries

· Jeddah Electrical Distribution Assemblies Ltd

· Metal Artwork Saudi Co

· Modern Factory for Casting Sanitary Fittings (MOFAC)

· Mimar Industrial Group

· A Metal

· Casareen Contract Manufacturing

· Palwa Beleuchtungs GmbH

· Palwa Iberica SA

· Precast Manufacturing Co

· Saudi Company for Development

· The Gypsum & Glass Reinforced Concrete

· The Woodwork Factory

· Drapery & Upholstery Factory

· Marble & Granite International Company

· United Spare Parts Co

· Binladin Losinger Ltd

· Binladin Saudi Marble Co Ltd

· Binladin G.N.B. Ltd

Media

· Dunia Multi Media

· Hazar Media Group

· Dar Al Reisha for Publishing & Distribution Co

· Editions Hazar

· Focus Press

· Hazar Advertising & Hazar Graphics

· Hazar Graphics

· Hazar Licensing

· Hazar Productions

· Hazar Publishing Dar El Reisha

· Morooj Advertising

· Reisha Information Systems

· Young Future Publishing

Operation & Maintenance

· United Saudi Maintenance & Services Co

· Saudi Services Co Ltd

Retail

· Casareen Retail International (Caj Shop)

· The Studio

Services

· Al Salem York Services Co

· Arabian Elevator and Escalator Co (Areeco)

· Forship Limited

· Canareen Inc

· United Transport Company

· Lotus Residential Compounds

· Salhia Lotus Beach Resort

Telecommunications

· Binladin Telecommunication Company

Trading

· Al Salem Agencies & Services Co

· Al Salem for Industrial Kitchens

· Building Products Company

· General Food & Consumer Goods Sal (GFC)

· International Food & Consumable Goods Co Ltd

· Arrow Food Distribution

· GFC Limited

· International Co for Importing Food & Consumable Goods

· United Foodstuffs & Catering Co Sal

· United Foodstuffs & Consumer Products Co

· Golden Fields Limited

· Mimar Trading Group

· Arabian Rootes Ltd for Trading

· Mimar General Trading Ltd Sd

· Mimar Trading

· Mimar Sri

· Kuala Lumpur

· Sidra Trading

· Unimar Trading

· Binladin Brothers

· Binladin Industrial Co Ltd

Petroleum, Chemical and Mining

· National Heavy Industries (Abraj)

Others

· Al Mihdar Binladin Development Co Ltd

· Al Fadl Binladin & J&P Ltd

· Saudi Aircraft Services Ltd

· Saudi Traffic Safety Co Ltd

· BSW Electric Power Contracting Co Ltd

· Binladin for Contracting and Trading Co

· Saudi Ceramic Co

· United Medical Group

· Saudi Bin Ladin Group Co Ltd

Prince Abdullah Street

Al Rawdah District

PO Box: 8918 & 9887

Jeddah 21492

Tel: (966-12) 6400004 / 6312280 / 6322200 / 6643033

Fax: (966-12) 6209813 / 6697221 / 6643221 / 6643225

CR No. 4030068284

OPERATIONS

Activities: Engaged as general construction contractors.

Subject has a workforce of approximately 400 employees.

FINANCIAL DATA

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.

BANKERS

· National Commercial Bank

Airport Road

PO Box: 2800

Riyadh 11461

Tel: (966-11) 4772281

Fax: (966-11) 4730322

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

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.64.05
UK Pound	1	Rs.99.04
Euro	1	Rs.71.76

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	NIT

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.