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Report No. : |
320578 |
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Report Date : |
12.05.2015 |
IDENTIFICATION DETAILS
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Name : |
ABDUL RAHMAN ALI
ABDUL RAHMAN AL TURKI FOR TRADING & CONTRACTING (ATCO) |
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Registered Office : |
Dammam Road 718 Al Khobar 31421 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
1979 |
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Com. Reg. No.: |
2051001363, Al
Khobar |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Subject’s operations are performed through the following divisions:
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No. of Employee : |
300 |
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 : 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 :
2051001363, Al Khobar
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)
Location : Dammam Road
PO Box : 718
Town : Al Khobar 31421
Country : Saudi Arabia
Telephone : (966-13) 8335588 / 8332460 / 6672616
Facsimile : (966-13) 8339881
Email : info@atco.com.sa
Subject operates
from a large suite of offices that are rented and located in the Central Business
Area of Al Khobar.
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. : 2051001363,
Al Khobar
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. 1010008018
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.85 |
|
|
1 |
Rs.98.47 |
|
Euro |
1 |
Rs.71.51 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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|
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Report Prepared
by : |
ANK |
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.