MIRA INFORM REPORT
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Report No. : |
321426 |
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Report Date : |
12.05.2015 |
IDENTIFICATION DETAILS
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Name : |
TARIQ ABOUD
HELABI TRADING EST |
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Registered Office : |
Bab Shareef District 10319 Jeddah 21433 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
02.10.1997 |
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Com. Reg. No.: |
4030057047,
Jeddah |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Engaged in the import
and distribution of textiles, fabrics and readymade garments. |
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No. of Employee
: |
5 |
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) |
|
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 canFINANCE
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 |
SUMMARY
Company Name : TARIQ
ABOUD HELABI TRADING EST
Country of Origin : Saudi
Arabia
Legal Form :
Sole Proprietorship
Registration Date : 2nd
October 1997
Commercial
Registration Number :
4030057047, Jeddah
Membership Number : 26658
Invested Capital : SR 10,000
Total Workforce : 5
Activities :
Distributors of textiles, fabrics and readymade garments
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
COMPANY
NAME
TARIQ ABOUD HELABI
TRADING EST
ADDRESS
Registered & Physical
Address
Location : Bab Shareef District
PO Box : 10319
Town : Jeddah 21433
Country : Saudi Arabia
Telephone : (966-12) 6674326 / 6520960 / 6613441
/ 6433580
Facsimile : (966-12) 6433580
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Jeddah.
KEY
PRINCIPALS
Name Position
·
Tariq
Aboud Ali Helabi Proprietor
& General Manager
LEGAL
FORM & OWNERS
Date of Establishment : 30/05/1418
Hijri (corresponding to 2nd October 1997)
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030057047,
Jeddah
Membership No. :
26658
Invested Capital
: SR 10,000
Mr Tariq Aboud
Ali Helabi is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of
textiles, fabrics and readymade garments.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 5 employees.
FINANCIAL
DATA
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 8,325,000 SR 8,710,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
National
Commercial Bank
PO Box: 3555
Jeddah 21481
Tel: (966-12) 6446644
Fax: (966-12) 6446644
PAYMENT
HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL
COMMENTS
Please note that the
commercial registration number 1010198274 was issued by the Riyadh Chamber of
Commerce to a company called “Mohamed Yousef Al Qarni Est“ and has not been
renewed for 11 years.
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
: |
DIV |
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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.