|
Report No. : |
343718 |
|
Report Date : |
12.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAAD A AL HARBI EST |
|
|
|
|
Registered Office : |
Bin Yaqoob Complex, Madinah Road, Express Highway, Al Nakheel District PO Box : 40833,
Jeddah 21551 |
|
|
|
|
Country : |
Saudi Arabia |
|
|
|
|
Date of Incorporation : |
08.07.1973 |
|
|
|
|
Com. Reg. No.: |
4030007807, Jeddah |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Subject is engaged in the wholesale and retail of building materials,
bathroom fittings, ceramics and tiles. |
|
|
|
|
No. of Employee : |
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 :
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 |
Company Name :
SAAD A AL HARBI EST
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
8th July 1973
Commercial Registration Number :
4030007807, Jeddah
Chamber Membership Number :
1033
Invested Capital :
SR 40,000
Total Workforce :
12
Activities :
Wholesale and retail of building materials, bathroom fittings, ceramics and
tiles.
Financial Condition :
Fair
Payments :
No Complaints
Operating Trend :
Steady
ARIC Credit Rating :
BB
SAAD A AL HARBI EST
Building :
Bin Yaqoob Complex
Street : Madinah
Road, Express Highway
Area : Al Nakheel
District
PO Box : 40833
Town : Jeddah 21551
Country : Saudi Arabia
Telephone : (966-12)
6293842 / 6293877
Facsimile : (966-12)
6294311
Mobile : (966-50)
6650644
Email : harbi333@yahoo.com
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Jeddah.
Branch Office (s)
Location Description
· Express Highway Showroom
premises
Jeddah
Tel: (966-12)
6116625
Name Position
· Saad Abdulrahman
Saad Al Hamzi Al Harbi Proprietor
& General Manager
· Ahmed Saad
Abdulrahman Saad Al Hamzi Al Harbi Assistant
General Manager
· Ali Bedawi Financial
Controller
· Amajd Saad
Abdulrahman Saad Al Hamzi Al Harbi Commercial
Manager
· Hamad Al Sayed Sales
Manager
Date of
Establishment : 07/06/1393 Hijri
(corresponding to 8th July 1973)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 4030007807, Jeddah
Chamber Member No. : 1033
Invested Capital : SR 40,000
Mr Saad Abdulrahman Saad Al Hamzi Al Harbi is the sole proprietor of the
business.
Activities: Engaged in the wholesale and retail of building materials, bathroom
fittings, ceramics and tiles.
Import Countries: Germany, Spain, United Kingdom, India, China and
Italy.
International Suppliers:
· GS Italy
· Hezant Germany
· Yara China
· Domas United Kingdom
· Dugi Italy
· ARCO Spain
· Layatm Spain
· Idrospania Spain
· Smrurti Pottery Work India
· Al Mustaneer Co India
· Bharat Impex China
Operating Trend: Steady
Subject has a workforce of 12 employees.
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
23,500,000 SR
35,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Ali Bedawi, Financial Controller
·
National Commercial Bank
Al Balad Branch
King Abdulaziz
Street
PO Box: 5066
Jeddah 21422
Tel: (966-12)
6434777
Fax: (966-12)
6441686
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.64.78 |
|
|
1 |
Rs.99.54 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ASH |
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.