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Report No. : |
320573 |
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Report Date : |
11.05.2015 |
IDENTIFICATION DETAILS
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Name : |
ABDUL RAHMAN ALI ABDUL RAHMAN AL TURKI FOR TRADING & CONTRACTING
(ATCO) |
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Registered Office : |
Istanbul Street, Mshael
District, Al Sulay Area, PO Box 8077, Riyadh |
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Country : |
Saudi
Arabia |
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Date of Incorporation : |
1979 |
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Com. Reg. No.: |
1010008018 |
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Legal Form : |
Sole Proprietorship |
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|
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Line of Business : |
Subject’s
operations are performed through the following divisions:
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No. of Employees : |
300 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 |
Company Name :
ABDUL RAHMAN ALI ABDUL RAHMAN AL TURKI FOR TRADING &
CONTRACTING (ATCO)
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
1979
Commercial Registration Number :
1010008018, Riyadh
Invested Capital :
SR 1,000,000
Total Workforce : 300
Activities :
Subject operates several divisions (see below for details)
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
ABDUL RAHMAN ALI ABDUL RAHMAN AL TURKI FOR TRADING & CONTRACTING
(ATCO)
Registered &
Physical Address
Street : Istanbul
Street
Area :
Mshael District, Al Sulay Area
PO Box : 8077
Town : Riyadh
Country : Saudi Arabia
Telephone : (966-11)
4777678
Facsimile : (966-11)
4763485
Email : info@atco.com.sa
Premises
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Riyadh.
Name Position
Abdul Rahman Ali Abdul Rahman Al Turki Proprietor
& General Manager
Zyarat Hassan Finance
Manager
Shik Aslam Human
Resources Manager
Riza Habbib Secretary
Date of Establishment : 1979
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 1010008018,
Riyadh
Invested Capital : SR 1,000,000
Mr Abdul Rahman Ali Abdul Rahman Al Turki is the sole proprietor of the
business.
East & West Express
ATCO Ports Management and Marine Services (APMMS)
ATCO Commercial
Construction Materials
East & West Factory (EWF)
East & West Express Travel
ATCO Food & Beverage
CR No. 2050015851
Saudi Company for Chemical Products (SCCP)
Abdulrahman Al Turki Al Turki Corp for Trading & Contracting
CR No. 2050002046
Abdulrahman Ali Abdulrahman Turki Corporation for Trading &
Contracting
CR No. 2050014409
Abdul Rahman Ali Abdul Rahman Al Turki for Trading & Contracting
(ATCO)
CR No. 2051001363
Activities: Subject’s operations are performed through the following divisions:
Commercial Trading
and Services:
Provides equipment, materials, supplies, and services for, among others,
the Kingdom’s electric, oil and gas, petrochemical, and construction
industries. The subject sells the products and services of leading
international firms (many exclusively) such as 3M, ABB, Bently Nevada, Broyce
Control, CESI, Clipsal, Compressor Controls Corporation, General Electric,
Govan, Honeywell, Sinopec, T.D. Williamson, and Weed Instruments. Our largest
customers include Saudi Electricity Company, the Saudi Arabian Oil Company
(SAUDI ARAMCO) and Saudi Basic Industries Corporation (SABIC).
Port Management
& Marine Services:
Provides port terminal and marine operations and services, offshore
support logistics, onshore and offshore repair and overhaul, hazardous waste
removal, ship management, safety and industrial security services, and ship
agency services. The subject operates among the largest fleet of oil field
service vessels in the Kingdom. Under various outsourcing contracts, the group
handles the marine services for the Saudi government-owned ports of Jeddah and
Jizan, as well as for Saudi Aramco’s private ports on the west and east coasts
of the Kingdom.
Engineering and
Contracting:
Handles large scale electrical, mechanical, civil, and construction
projects for residential, commercial and industrial facilities. The group is
considered the pre-eminent hi-rise engineering firm in the Eastern Province of
the Kingdom. The subject’s joint venture with Keller is one of the Arabian
Gulf’s leading soil and foundation engineering specialist contractors, handling
drilling and grouting, groundwater lowering, soil improvement, and piling.
Retail Services:
The subject engages in numerous consumer retail activities including insurance
services, office supplies and equipment, travel, apparel, furniture, gifts, and
china. The subject is the exclusive distributor of the GAP, Banana Republic,
and Old Navy brands in Saudi Arabia and the United Arab Emirates.
Industrial
Services:
Offers numerous industrial services, including, but limited to, chemical
cleaning, waste management, tank cleaning, tank repair and maintenance,
abrasive and water blasting, fibreglass lining, specialized coatings,
fireproofing, online high pressure leak sealing, and steam blows.
Manufacturing
Manufactures a wide range of products, including, but limited to,
construction chemicals, low voltage switchboards, package substations,
distribution and lighting panels, switch racks, metering cabinets, pull and junction
boxes, electro solar cell panels, and even stationary products.
Transportation
& Logistics Management:
Owns and operates one of the Kingdom’s largest logistics and
transportation companies, East & West Express.
Telecommunications
Products and Services:
Recently teamed with MCI International, Inc. and General Dynamics Saudi
Arabia Telecom Ltd. in an unsuccessful bid for a data telecommunications
license in Saudi Arabia. The group is pursuing other telecommunications
activities throughout the Arab world.
Import Countries: Germany, United Kingdom and the United States of
America.
Local Clients:
Saudi Aramco
Risal
Honeywell Turki Arabia Ltd
Arabian Equipment Rentals Ltd
Subject has a workforce of approximately 300 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.
Arab National Bank (ANB)
PO Box: 37
Al Khobar 31952
Tel: (966-13) 8948660
Fax: (966-13) 8942752
No complaints regarding subject’s payments have been reported.
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 |
|
US Dollar |
1 |
Rs.64.05 |
|
|
1 |
Rs.99.04 |
|
Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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|
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 |
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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 |
|
|
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 |
-- |
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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.