MIRA INFORM REPORT

Report No. :	347842
Report Date :	06.11.2015

IDENTIFICATION DETAILS

Name :	TAUFEEQ AHMED AL MOHSIN TRADING EST
Registered Office :	Imam Ali Street Al Owmaiah District, Dammam 31911, PO Box 553
Country :	Saudi Arabia
Financials (as on) :	31.12.2014
Date of Incorporation :	22.08.2006
Com. Reg. No.:	2053016957, Dammam
Legal Form :	Sole Proprietorship (1)
Line of Business :	Distributors of foodstuffs and general spare parts. Subject also acts as general building maintenance contractors
No. of Employees :	12

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:

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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

Company Name TAUFEEQ AHMED AL MOHSIN TRADING EST
ORDER DETAILS
Business/ Subject Name	:	TAUFEEQ AHMED AL MOHSIN TRADING EST
Country	:	Saudi Arabia
PO Box	:	553 DAMMAM 31911
Phone (s)	:	00966-3-8354836
Facsimile	:	00966-3-8335404
IDENTIFICATION & CONTACT DETAILS
1) Name (s):
Organization Official Name	:	TAUFEEQ AHMED AL MOHSIN TRADING EST
2) Registered Address:
Address	:	Imam Ali Street Al Owmaiah District
Town	:	Dammam 31911
Country	:	Saudi Arabia
PO Box	:	553
Phone (s)	:	(966-13) 8354836
		(966-13) 8511646
Facsimile	:	(966-13) 8335404
Mobile		(966-50) 6836172
3) Operational Address & Contact Details:
Address	:	Imam Ali Street Al Owmaiah District
Town	:	Dammam 31911
Country	:	Saudi Arabia
PO Box	:	553
Phone (s)	:	(966-13) 8354836
		(966-13) 8511646
Facsimile	:	(966-13) 8335404
Mobile		(966-50) 6836172
:
LEGAL FORM & INCORPORATION (REGISTRATION) DETAILS
Legal Form - Category	:	Sole Proprietorship (1)
Date of Registration	:	22nd August 2006
Commercial Registration Number	:	2053016957, Dammam
Note: 1
Mr Taufeeq Ahmed Al Moshin is the sole proprietor of the business.
OTHER REGISTRATION/ MEMBERSHIPS
Chamber Membership Number	:	150024
KEY FACTS
Operational Status	:	Steady
Financial Condition	:	Fair
Primary Business Activity	:	Distributors of foodstuffs and general spare parts. Subject also acts as general building maintenance contractors
Number of Employees	:	12
Invested Capital	:	SR 50,000
CAPITAL DETAILS
Issued Capital:
NO OF SHARES		VALUE OF SHARE		AMOUNT
N/A		N/A
Paid Up Capital:
NO OF SHARES				AMOUNT
N/A		N/A
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 9,200,000		SR 9,600,000
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
	PO Box		13 Dammam 31411
	Tel		(966-13) 8331188
	Fax		(966-13) 8336058
SENIOR MANAGEMENT
Sr.No	Name			Dsignation
1	Taufeeq Ahmed Al Moshin			Proprietor & General Manager
2	Jawad Al Bouri			Sales 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 Suburban Business Area of Dammam.
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
According to local sources, subject meets its payment obligations in a timely manner and the business is considered to be a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.65.67
UK Pound	1	Rs.101.02
Euro	1	Rs.71.35

INFORMATION DETAILS

Analysis Done by :	RAS
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
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%)

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