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Report No. : |
340119 |
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Report Date : |
10.09.2015 |
IDENTIFICATION DETAILS
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Name : |
MALAKAIT COMPANY
LTD |
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Registered Office : |
Sahara Mall, Shop No. N 33-34, Gate No. 2 King Abdullah Road 41057 Riyadh 11521 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
09.04.2011 |
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Com. Reg. No.: |
1010306057,
Riyadh |
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Legal Form : |
Limited Liability
Partnership |
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Line of Business : |
Subject is engaged in
the import and distribution of jewellery and gold. |
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No. of Employee : |
18 |
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.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 $100 per barrel to balance its budget. Although the Kingdom can finance high deficits for several years by drawing down its considerable foreign assets or borrowing, it probably will begin to reduce capital spending if oil prices stay low through the next year.
|
Source
: CIA |
Company Name : MALAKAIT
COMPANY LTD
Country of Origin : Saudi
Arabia
Legal Form : Limited
Liability Partnership
Registration Date : 9th
April 2011
Commercial
Registration Number :
1010306057, Riyadh
Membership Number : 244058
Issued Capital : SR
250,000
Paid up Capital : SR
250,000
Total Workforce : 18
Activities :
Distributors of jewellery and gold
Financial Condition : Undetermined
Payments :
Unknown
ARIC Credit Rating : BB
Recommended Credit
Limit : US$ 150,000
Person Interviewed : M Hamid,
Accountant
MALAKAIT COMPANY
LTD
Location : Sahara Mall, Shop No. N 33-34, Gate
No. 2
Street : King Abdullah Road
PO Box : 41057
Town : Riyadh 11521
Country : Saudi Arabia
Telephone : (966-11) 4520285 / 4770721
Facsimile : (966-11) 4520285
Mobile : (966-55) 4454908
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Riyadh.
Name Position
·
Ahmed
Saleh Bin Jobair Managing
Partner
·
Jibreen
Ahmed Saleh Bib Jobair Partner
·
Saeed
Awad Bin Saibah Partner
·
Omar Al
Salahi Sales
Manager
·
M Hamid Accountant
Date of Establishment : 9th
April 2011
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 1010306057,
Riyadh
Membership
No. : 244058
Issued Capital : SR 250,000
Paid up Capital : SR 250,000
·
Ahmed
Saleh Bin Jobair
·
Jibreen
Ahmed Saleh Bib Jobair
·
Saeed
Awad Bin Saibah
Activities: Engaged in the import and distribution of
jewellery and gold.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 18 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.
·
National
Commercial Bank
Batha Branch
PO Box: 34
Tel: (966-11) 4010076 / 4025084
Fax: (966-11) 4034625
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.29 |
|
|
1 |
Rs.101.89 |
|
Euro |
1 |
Rs.73.98 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
|
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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 |
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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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.