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Report No. : |
338876 |
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Report Date : |
03.09.2015 |
IDENTIFICATION DETAILS
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Name : |
AL BADER AL GHARBI TRADING EST |
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Registered Office : |
Al Adama Street, PO Box 9730, Dammam 31423 |
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Country : |
Saudi
Arabia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
02.10.2013 |
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Com. Reg. No.: |
2050094710 |
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Legal Form : |
Sole Proprietorship |
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LINE OF BUSINESS : |
ENGAGED
IN THE IMPORT AND DISTRIBUTION OF STATIONERY, OFFICE SUPPLIES AND SCHOOL
ITEMS. |
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No. of Employees : |
12 |
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 : |
No Complaints |
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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.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Saudi Arabia |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source
: CIA |
Company Name :
AL BADER AL
GHARBI TRADING EST
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
2nd October 2013
Commercial Registration Number :
2050094710, Dammam
Chamber Membership Number :
107965
Invested Capital :
SR 10,000
Total Workforce :
12
Activities :
Distributors of stationery, office supplies and school items
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Person Interviewed :
Ayub Khan, Sales Manager
AL BADER AL GHARBI TRADING EST
Registered & Physical
Address
Location : Al Adama
Street
PO Box :
9730
Town : Dammam 31423
Country : Saudi Arabia
Telephone : (966-13)
8266142
Facsimile : (966-13)
8291976
Email : ayub22@gmail.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Suburban Business Area of Dammam.
Name Position
Saeed Suwaid Al Rashedy Proprietor
& General Manager
Ayub Khan Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2nd
October 2013
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 2050094710, Dammam
Chamber Member No. : 107965
Invested Capital : SR 10,000
Mr Saeed Suwaid Al Rashedy is the sole proprietor of the business.
Activities: Engaged in the import and distribution of stationery, office supplies
and school items.
Import Countries: Europe and the Far East
Subject has a workforce of 12 employees.
Financial highlights provided by local sources are given below:
Currency: Saudi Riyals (SR)
Year
Ending 31/12/14:
Total Sales SR
7,225,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Arab National Bank (ANB)
King Street
PO Box: 18
Dammam 31411
Tel: (966-13) 8323440
Fax: (966-13) 8337829
No complaints regarding subject’s payments have been reported.
Please note that the correct name of the subject is “Al Bader Al Gharbi
Trading Est” and not “Al Bader Al Awadi
Trading Est”.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.16 |
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|
1 |
Rs.101.22 |
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Euro |
1 |
Rs.74.61 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared by
: |
TPT |
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.