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Report No. : |
339466 |
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Report Date : |
10.09.2015 |
IDENTIFICATION DETAILS
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Name : |
SAHTAIN WATER CO
(MOYA) |
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Registered Office : |
Al Khobar Street, P O Box: 21767 & 1498, Riyadh 11431 |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
27.06.1996 |
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Com. Reg. No.: |
1010237577,
Riyadh |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject is
engaged in the processing, bottling and marketing of mineral water. |
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No. of Employees : |
150 |
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 |
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Risk Category |
ECGC
Classification |
|
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 : SAHTAIN
WATER CO (MOYA)
Country of Origin : Saudi
Arabia
Legal Form :
Limited Liability Partnership
Registration Date : 27th
June 1996
Commercial
Registration Number :
1010237577, Riyadh
Membership Number : 78492
Issued Capital : SR
3,575,000
Paid up Capital : SR
3,575,000
Total Workforce : 150
Activities :
Processing, bottling and marketing of mineral water.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
SAHTAIN WATER CO
(MOYA)
Location : Al Khobar Street
PO Box : 21767 & 1498
Town : Riyadh 11431
Country : Saudi Arabia
Telephone : (966-11) 4169363 / 4658061 / 4645855
Facsimile : (966-11) 2884557
Mobile : (966-55) 5208550
Email : info@moyawater.com
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Riyadh.
Branch Offices
Location Description
·
Al
Qassim Factory
premises
CR No. 1132005287
·
Al Ras Office
premises
Name Position
·
Mashoor Al Assaf Managing
Partner
·
Assaf Al Assaf Partner
·
Ajlan
Al Ajlan General
Manager
·
Ahmed
Abd Motlib Finance
Manager
Date of Establishment : 27th
June 1996
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 1010237577,
Riyadh
Membership
No. : 78492
Issued Capital : SR 3,575,000
Paid up Capital : SR 3,575,000
·
Mashoor Al Assaf
·
Assaf Al Assaf
Activities: Engaged in the processing, bottling and
marketing of mineral water.
Import
Countries: Europe and the
Far East.
Brand Names: MOYA
Operating Trend: Steady
Subject has a
workforce of 150 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 33,735,000 SR 37,500,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Saudi
Investment Bank
Riyadh
·
Saudi
American Bank
Malaz Branch
PO
Box: 3388
Riyadh 11471
Tel: (966-1) 4774770
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
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
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Analysis Done by
: |
TRI |
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Report Prepared by
: |
NIT |
RATING EXPLANATIONS
|
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.