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Report No. : |
339891 |
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Report Date : |
09.09.2015 |
IDENTIFICATION DETAILS
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Name : |
ABDUL WAHAB MULLA
FOR TRADING EST |
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Registered Office : |
Al Bukhariya Street Al Hindawiya District 6240 Jeddah 21442 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
1974 |
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Com. Reg. No.: |
4030011035,
Jeddah |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Subject’s
operations are performed through the following divisions: ·
General Trading Division Engaged in the wholesale and retail of ready made garments, carpets
and rugs. ·
Toy Division Engaged in the wholesale and retail of toys and novelties. |
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No. of Employee : |
25 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
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.
|
Source
: CIA |
Company Name : ABDUL
WAHAB MULLA FOR TRADING EST
Country of Origin : Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date : 1974
Commercial
Registration Number :
4030011035, Jeddah
Chamber Membership
Number : 2202
Invested Capital :
SR 3,500,000
Total Workforce :
25
Activities :
Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed
Mojeeb, Financial Controller
ABDUL WAHAB MULLA FOR
TRADING EST
Street : Al Bukhariya Street
Area : Al Hindawiya District
PO Box : 6240
Town : Jeddah 21442
Country : Saudi Arabia
Telephone : (966-12) 6432781 / 6472241
Facsimile : (966-12) 6436817 / 6480261
Mobile : (966-50) 1378179
Email : mulla_gsa@yahoo.com / mulla@saudi.net.sa / mullacarpet@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
·
Al
Balad Area Rented
showroom & warehouse
Jeddah
Tel: (966-12) 6446242
Fax: (966-12) 6436817
Name Position
·
Abdul
Wahab Mulla Mamour Proprietor
& General Manager
·
Kamal
Abdul Wahab Mulla Mamour Assistant
General Manager
·
Nematullah
Jan Commercial
Manager
·
Ahmed Jan
Mohideen Sales
Manager
·
Mohamed
Mojeeb Financial
Controller
Date of Establishment : 1974
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 4030011035,
Jeddah
Chamber Member No. : 2202
Invested Capital
: SR 3,500,000
Mr Abdul Wahab
Mulla Mamour is the sole proprietor of the business.
Activities: Subject’s operations are performed through
the following divisions:
·
General Trading Division
Engaged in the wholesale and retail
of ready made garments, carpets and rugs.
·
Toy Division
Engaged in the wholesale and
retail of toys and novelties.
Import
Countries: Belgium, United
Kingdom, Turkey, Bahrain, India and China.
International
Suppliers:
·
Marqiues Belgium
·
Contes Belgium
·
Royal Turkey
· Atlantic Turkey
· Qabalan Turkey
· Bakhara Rug Belgium
· Debos Belgium
Operating Trend: Steady
Subject has a
workforce of 25 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 18,400,000 SR 18,915,000
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)
Madinah Road
PO Box: 9463
Jeddah 21413
Tel: (966-12) 6600272
Fax: (966-12) 6650202
·
Al
Rajhi Banking & Investment Corporation
King Abdulaziz Street
PO Box: 605
Jeddah 21421
Tel: (966-12) 6447790 / 6447676
Fax: (966-12) 6434022
·
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.66.61 |
|
|
1 |
Rs.102.30 |
|
Euro |
1 |
Rs.74.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
|
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 |
|
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.