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Report No. : |
339892 |
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Report Date : |
10.09.2015 |
IDENTIFICATION DETAILS
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Name : |
MOHAMED HAYEL MOUSLEH SEIF EST |
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Registered Office : |
East Charq Shamel Markets, Bin Saeed Warehouse, PO Box : 7925 & 16506 Jeddah 21474 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
09.06.1998 |
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Com. Reg. No.: |
4030124278, Jeddah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged in the import and distribution of stationery items |
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No. of Employee : |
5 |
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
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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 :
MOHAMED HAYEL MOUSLEH SEIF EST
Country of Origin :
Saudi Arabia
Legal Form :
Sole Proprietorship
Registration Date :
9th June 1998
Commercial Registration Number :
4030124278, Jeddah
Chamber Membership Number :
68839
Invested Capital : SR 20,000
Total Workforce :
5
Activities :
Distributors of stationery items
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
MOHAMED HAYEL MOUSLEH SEIF EST
Location : East Charq
Shamel Markets, Bin Saeed Warehouse
PO Box : 7925 & 16506
Town : Jeddah 21474
Country : Saudi Arabia
Telephone : (966-12) 6194116 / 6475744 / 6484631
Facsimile : (966-12) 6194115
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Suburban Business Area of Jeddah.
Name Position
· Mohamed Hayel Mousleh Seif Proprietor
& General Manager
Date of
Establishment : 13/02/1419 Hijri
(corresponding to 9th June 1998)
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 4030124278,
Jeddah
Chamber Member No. : 68839
Invested Capital : SR 20,000
Mr Mohamed Hayel Mousleh Seif
is the sole proprietor of the business.
Activities: Engaged in the import and distribution of stationery items.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 5 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
7,100,000 SR
7,300,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
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.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.29 |
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1 |
Rs.101.89 |
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Euro |
1 |
Rs.73.98 |
INFORMATION DETAILS
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Analysis Done by
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KAS |
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Report Prepared
by : |
ASH |
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.