MIRA INFORM REPORT

 

 

Report No. :

343727

Report Date :

12.10.2015

 

IDENTIFICATION DETAILS

 

Name :

AAL HASSAN TRADING EST

 

 

Registered Office :

Al Haji Street, PO Box 7811, Makkah

 

 

Country :

Saudi Arabia

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

21.12.2004

 

 

Com. Reg. No.:

4031038645

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Engaged in the wholesale and retail sanitary ware products and plumbing accessories.

 

 

No. of Employees :

15

 

 

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, 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

 

SUMMARY

 

Company Name                                    : AAL HASSAN TRADING EST

Country of Origin                                   : Saudi Arabia

Legal Form                                           : Sole Proprietorship

Registration Date                                  : 21st December 2004

Commercial Registration Number           : 4031038645, Makkah

Invested Capital                                                : SR 100,000

Total Workforce                         : 15

Activities                                               : Wholesalers and retailers of sanitary ware products and plumbing

   accessories.

Financial Condition                                : Fair

Payments                                             : No Complaints

Operating Trend                                    : Steady

Person Interviewed                                : Nadeem Abbass, Sales Manager

 

COMPANY NAME

 

AAL HASSAN TRADING EST

 

 

ADDRESS

 

Registered & Physical Address

 

Location           : Al Haji Street

PO Box            : 7811

Town                : Makkah

Country : Saudi Arabia

Telephone         : (966-12) 5729666 / 5729555

Facsimile          : (966-12) 5729444

Mobile              : (966-55) 5524722

Email                : allhasanest@yahoo.com

 

Premises

 

Subject operates from a small suite of offices and a showroom that are rented and located in the Central Business Area of Makkah.

 

Branch Offices

 

Location                                                                                               Description

 

Express Highway                                                                                  Rented showroom premises      

Al Nakheel District

PO Box: 9285

Jeddah 21188

Tel: (966-12) 6290333

Fax: (966-12) 6273999

 

 

KEY PRINCIPALS

 

Name                                                                                       Position

 

Misfer Ahmed Hassan Ganal Al Ghamdi                                     Proprietor & General Manager

 

Marwan Naif Al Otaibi                                                                Assistant General Manager

 

Nadeem Abbass                                                                       Sales Manager

 

Sabir Ali                                                                                    Sales Executive

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 09/11/1425 Hijri (corresponding to 21st December 2004)

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.   : 4031038645, Makkah

 

Invested Capital           : SR 100,000

 

Mr Misfer Ahmed Hassan Ganal Al Ghamdi is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail sanitary ware products and plumbing accessories.

 

Import Countries: Italy, Spain, India and Pakistan.

 

International Suppliers:

 

Bosini                           Italy

Bonini                           Italy

Idrospania                     Spain

Tocai                            Spain

Kajaria Manhole India

NIF Cast Iron                 India

Sawawa                        India

El Namah Co                 Pakistan

 

Operating Trend: Steady

 

Subject has a workforce of 15 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 10,400,000                           SR 11,000,000

 

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

Masfalah Branch

Makkah

Tel: (966-12) 5367051

Fax: (966-12) 5345457

 

 

PAYMENT HISTORY

 

Subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Please note that the correct name of the subject is “Aal Hassan Trading Est” and not “All Hasan Trading Est”

 

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.64.78

UK Pound

1

Rs.99.54

Euro

1

Rs.73.08

 

 

INFORMATION DETAILS

 

Analysis Done by :

HEE

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.