|
Report No. : |
347361 |
|
Report Date : |
03.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
AL TAHADON FOR TRADING SERVICES |
|
|
|
|
Registered Office : |
3873 Dali, Unit No 1, Al Morooj District, P O Box: 330, Riyadh 11351 |
|
|
|
|
Country : |
Saudi Arabia |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
21.04.2010 |
|
|
|
|
Com. Reg. No.: |
1010249683, Riyadh |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Import and Distribution of Raw Materials for Steel and Others Metals. |
|
|
|
|
No. of Employees : |
5 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Saudi Arabia |
A2 |
A2 |
|
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, telecommunications, 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 |
AL TAHADON FOR TRADING SERVICES
IDENTIFICATION
& CONTACT DETAILS
|
||||
|
|
||||
|
1) Name (s): |
||||
|
Organization Official Name |
: |
AL TAHADON FOR TRADING SERVICES |
||
|
|
||||
|
2) Registered Address: |
||||
|
Address |
: |
3873 Dali, Unit No 1, Al Morooj District |
||
|
Town |
: |
Riyadh 11351 |
||
|
Country |
: |
Saudi Arabia |
||
|
PO Box |
: |
330 |
||
|
Phone (s) |
: |
(966-11) 4601311 |
||
|
Facsimile |
: |
(966-11) 4601311 |
||
|
Email |
: |
|||
|
Mobile |
|
(966-50) 5720936 |
||
|
|
||||
|
3) Operational Address & Contact Details: |
||||
|
Address |
: |
3873 Dali, Unit No 1, Al Morooj District |
||
|
Town |
: |
Riyadh 11351 |
||
|
Country |
: |
Saudi Arabia |
||
|
PO Box |
: |
330 |
||
|
Phone (s) |
: |
(966-11) 4601311 |
||
|
Facsimile |
: |
(966-11) 4601311 |
||
|
Email |
: |
|||
|
Mobile |
|
(966-50) 5720936 |
||
|
|
||||
LEGAL FORM & INCORPORATION
(REGISTRATION) DETAILS
|
||||
|
|
||||
|
Legal Form - Category |
: |
Sole Proprietorship (1) |
||
|
Date of Registration |
: |
21st April 2010 |
||
|
Commercial Registration Number |
: |
1010249683, Riyadh |
||
|
Note: (1) |
||||
|
Mr Ibrahim Tashkandi is the sole proprietor of the business. |
||||
|
|
||||
KEY
FACTS
|
||||
|
|
||||
|
Operational Status |
: |
Normal |
||
|
Financial Condition |
: |
Fair |
||
|
Primary Business Activity |
: |
Distributors of raw materials for steel and others metals (1) |
||
|
Number of Employees |
: |
5 |
||
|
Invested Capital |
: |
SR 25,000 |
||
|
Note: (1) |
||||
|
Engaged in the import and distribution of raw materials for steel and
others metals. |
||||
|
|
||||
|
|
||||
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 Revenue |
SR 12,725,000 |
SR 13,150,000 |
||
|
Local sources consider subject’s financial condition to be Fair. |
||||
|
The above financial figures are based on estimations by our local
sources. |
||||
|
|
||||
|
|
||||
BANKER
|
||||
|
|
||||
|
1 |
Name |
National Commercial Bank |
||
|
|
Address |
Malaz Branch |
||
|
|
PO Box |
42536 Riyadh 11551 |
||
|
|
Tel |
(966-11) 4776450 |
||
|
|
Fax |
(966-11) 4769502 |
||
|
|
||||
|
|
||||
SENIOR
MANAGEMENT
|
||||
|
|
||||
|
Sr.No |
Name |
Dsignation |
||
|
1 |
Ibrahim
Tashkandi |
Proprietor & General Manager |
||
|
|
||||
INTERNATIONAL TRADE ACTIVITY MARKETS
|
||||
|
|
||||
|
Sr.No |
Country |
Activity |
||
|
1 |
Europe |
Import |
||
|
2 |
Far East |
Import |
||
|
|
||||
|
|
||||
PREMISES
|
||||
|
|
||||
|
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Riyadh. |
||||
|
|
||||
|
|
||||
PAYMENT
|
||||
|
|
||||
|
No complaints regarding subject’s payments have been reported. |
||||
|
|
||||
|
|
||||
ADVERSE
DATA
|
||||
|
|
||||
|
Performance Defaults |
: |
No record found |
||
|
Payment Defaults |
: |
No record found |
||
|
Adverse Press Coverage |
: |
No record found |
||
|
Litigations |
: |
No record found |
||
|
Former Business Relationships |
: |
No record found |
||
|
|
||||
|
|
||||
INVESTIGATOR'S
COMMENTS
|
||||
|
|
||||
|
Person Interviewed : Ibrahim
Tashkandi, Proprietor & General Manager |
||||
|
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.65.45 |
|
|
1 |
Rs.101.06 |
|
Euro |
1 |
Rs.72.22 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.