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Report No. : |
345172 |
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Report Date : |
23.10.2015 |
IDENTIFICATION DETAILS
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Name : |
AHMED MOHAMED
SALEH BAESHEN & CO TEA INDUSTRIES |
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Registered Office : |
Prince Salam Street, Hay Al Rawada, P O Box: 9822 & 18, Jeddah 21423 |
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Country : |
Saudi Arabia
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Date of Incorporation : |
01.01.1920 |
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Com. Reg. No.: |
4030000083,
Jeddah |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Import and
distribution of general foodstuffs, tea packaging, frozen food and related
products. |
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No. of Employees : |
600 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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.
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.
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Source
: CIA |
Company Name : AHMED
MOHAMED SALEH BAESHEN & CO TEA INDUSTRIES
Country of Origin : Saudi
Arabia
Legal Form :
Joint Stock Company
Registration Date : 1st
January 1920
Commercial
Registration Number :
4030000083, Jeddah
Issued Capital : SR
148,800,000
Paid up Capital : SR
148,800,000
Total Workforce : 600
Activities :
Distributors of general foodstuffs, tea packaging, frozen food
and related products.
Financial Condition : Undetermined
Payments :
Unknown
AHMED MOHAMED SALEH
BAESHEN & CO TEA INDUSTRIES
Street : Prince Salam Street
Area : Hay Al Rawada
PO Box : 9822 & 18
Town : Jeddah 21423
Country : Saudi Arabia
Telephone : (966-12) 6379000 / 6376091 / 6531760
Facsimile : (966-12) 6374656 / 6531536
Subject operates from
a large suite of offices and a warehouse that are rented and located in the
Industrial Area of Jeddah.
Name Position
·
Khaled
Ahmed Mohamed Saleh Chairman
·
Ahmed
Abdul Kader Baeshen Director
·
Oussama
Ahmed Baeshen Director
·
Mohamed
Hassan Abu Dawood Director
·
Hassan
Shakib Al Jabiri Director
Date of Establishment : 1st
January 1920
Legal Form :
Joint Stock Company
Commercial Reg. No. : 4030000083,
Jeddah
Issued Capital : SR 148,800,000
Paid up Capital : SR 148,800,000
·
Khaled
Ahmed Mohamed Saleh
·
Ahmed
Abdul Kader Baeshen
·
Oussama
Ahmed Baeshen
·
Mohamed
Hassan Abu Dawood
·
Hassan
Shakib Al Jabiri
Activities: Engaged in the import and distribution of
general foodstuffs, tea packaging, frozen food and related
products.
Import
Countries: Europe and the
Far East
Export
Countries: GCC countries
Subject has a
workforce of approximately 600 employees.
Companies registered
in Saudi Arabia are not legally required to make their accounts public and no
financial information was released by the company or submitted by outside
sources.
·
Al Bank
Al Saudi Al Fransi
Al Sharafiya Branch
Madinah Road
PO Box: 7888
Jeddah 21472
Tel: (966-12) 6605863
Unknown
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 company
is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.64.89 |
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1 |
Rs.100.39 |
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Euro |
1 |
Rs.73.52 |
INFORMATION DETAILS
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Analysis Done by
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KAS |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.