MIRA INFORM REPORT

Report No. :	344078
Report Date :	14.10.2015

IDENTIFICATION DETAILS

Name :	HIGH SKY ADVERTISING FACTORY
Registered Office :	2nd Industrial City, Dammam 1764
Country :	Saudi Arabia
Date of Incorporation :	01.01.2014
Com. Reg. No.:	2050097042, Dammam
Legal Form :	Sole Proprietorship
Line of Business :	Providers of event and exhibition services, web designing, corporate identity 3D designs and animations, printing services, outdoor printing, indoor printing, offset printing, signage branding, promotional and corporate gifts, laser cutting and engraving, interior decoration, photography and video shooting.
No. of Employee :	22

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 :	Slow but correct
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 anOIL -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

IDENTIFICATION & CONTACT DETAILS
1) Name (s):
Organization Official Name		:	HIGH SKY ADVERTISING FACTORY
2) Registered Address:
Address		:	2nd Industrial City, Dammam
PO Box		:	1764
Phone (s)		:	(966-13) 8023136
Facsimile		:	(966-13) 8023135
Email		:	info@highsky.com.sa
Country		:	Saudi Arabia
3) Operational Address & Contact Details:
Address		:	2nd Industrial City, Dammam
PO Box		:	1764
Phone (s)		:	(966-13) 8023136
Facsimile		:	(966-13) 8023135
Email		:	info@highsky.com.sa
Country		:	Saudi Arabia
LEGAL FORM & INCORPORATION (REGISTRATION) DETAILS
Legal Form - Category		:	Sole Proprietorship
Date of Registration		:	1st January 2014
Trade License Number		:	n/a
Expiry Date		:	n/a
Commercial Registration Number		:	2050097042, Dammam
KEY FACTS
Operational Status		:	Normal
Financial Condition		:	Fair
Primary Business Activity		:	Providers of event and exhibition services, web designing, corporate identity 3D designs and animations, printing services, outdoor printing, indoor printing, offset printing, signage branding, promotional and corporate gifts, laser cutting and engraving, interior decoration, photography and video shooting.
Number of Employees		:	22
Invested Capital		:	SR 10,000
CAPITAL DETAILS
Invested Capital:
NO OF SHARES					AMOUNT
N/A			N/A		SR 10,000
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Saudi Riyals (SR)
					Year Ending 31/12/14
Total Sales					SR 10,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Mansour Omran, Factory Manager
BANKER
1	Name			Saudi Investment Bank
	Address			Main Branch Dammam
SENIOR MANAGEMENT
S. No.	Name			Nationality	Dsignation
1	Fahd Zaid Hassan Hamzi			n/a	Proprietor & General Manager
2	Mansour Omran			n/a	Factory Manager
INTERNATIONAL TRADE ACTIVITY MARKETS
Sr.No	Country			Activity
1	Europe			Import
2	Far East			Import
International Suppliers:
	Name			Country
1	P & G			n/a
2	Marafiq			n/a
3	Tulip Inn			n/a
4	STC			n/a
5	Mobily			n/a
6	KFC			n/a
7	Procare			n/a
8	Satorp			n/a
9	Isaac			n/a
10	Sherton			n/a
PREMISES
Subject operates from a small suite of offices and a factory that are rented and located in the Industrial 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
Person Interviewed : Mansour Omran, Factory 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.65.02
UK Pound	1	Rs.99.89
Euro	1	Rs.73.92

INFORMATION DETAILS

Analysis Done by :	KIN
Report Prepared by :	ANK

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